Oilfield services provider Petrofac has applied to the High Court of England and Wales to appoint administrators after grid operator TenneT's termination of its involvement in a major offshore wind project in the Netherlands.
In 2023, Petrofac and Hitachi Energy were awarded a €13 billion ($15.16 billion) contract by Dutch-German electricity grid operator TenneT to deliver six 2-gigawatts offshore wind grid connection projects in the Netherlands and Germany.
