Mubadala revealed on Thursday that it had sold its shares in Petrofac Emirates to Nama Project Services for an undisclosed fee.
In a separate announcement, Petrofac said it had increased its interest in Petrofac Emirates from 50% to 75%, with Nama to hold the remaining 25% interest in the joint venutre.
“Mubadala Petroleum, in partnership with Petrofac International, established Petrofac Emirates five years ago as a major provider of, and centre of excellence for, engineering, procurement and construction services to the oil and gas sector in the UAE and the region,” Mubadala chief executive Maurizio La Noce said.
