Petrofac executives will face the SFO next as probe widens

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The UK's Serious Fraud Office (SFO) will widen its probe of oil and gas services company Petrofac, the company today announced.

Shares in Petrofac edged four per cent lower after the firm said the SFO's investigation into suspected bribery, corruption and money laundering would involve interviews with the company's directors, including its chairman, and employees.

Petrofac said it "continues to engage with the SFO", but no further comment or updates would be made on the matter.

In May 2017, Petrofac suspended its chief operating officer Marwan Chedid as the SFO opened its investigation.

The company's share price crashed in the wake of the news, and it has yet to recover.

Read more: Petrofac says it's seen a "recovery" in new orders this year