Petrofac's ECOM division already logged orders of $8.8bn for 2015

Petrofac’s Engineering, Construction, Operations & Maintenance (ECOM) division has already logged orders of $8.8bn (£5.8bn) for the year.

In a trading update released on Tuesday, the company said it was driven by a major milestone on the Laggan-Tormore project.

It revealed that all main construction activities on the project had been completed in preparation for the introduction of gas, which is currently targeted before the end of the year.

Petrofac said it expects to close out the final commercial position by our full year results.

Backlog in the ECOM division stood at record levels of US$18.5bn on 30 November 2015 and the company said operationally, its portfolio continues to perform in line with expectations.

The division’s net profit for the year to 31 December is expected to be broadly in line with expectations of approximately $460m, while group net debt is expected to be flat over the second half of the year, from $1bn in the first half.

In a bid to maintain its cost-effectiveness and sustain its strong competitive position, Petrofac also is implementing a group reorganisation, effective from 1 January 2016.

As a result, its ECOM division will have two external reporting segments - Engineering & Construction, which will include Onshore Engineering & Construction and Offshore Capital Projects, and Engineering & Production Services, which will include our reimbursable businesses as well as Petrofac Training, SPD and Caltec, which will be transferred from Integrated Energy Services.