A well-known name in the oil and gas and energy markets, Petrofac says it sees its role as helping customers to "unlock the potential of their assets". It has a 32-year track record and has grown significantly to become a mainstay of the FTSE 100 share index; it has 31 offices and more than 18,000 staff worldwide, but has never owned a vessel, until now. So why is it acquiring one, and investing so much in doing so? Its decision to move into owning and operating vessels for the first time has not been without its critics. Some investors and analysts say the offshore oil and gas market is already crowded with players with vessels and is too 'risky'. They point to the presence of existing specialists such as Saipem and Subsea 7. Such was the concern among investors that the company's shares fell steeply when the plan to build the vessel - and invest a huge sum in doing so - was first announced.
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