British oil services firm Petrofac
posted a forecast-beating 25 percent jump in 2011 profit and said it was confident on winning new contracts this year despite significant competition in its core Middle East and North African market.

Petrofac, which designs and builds oil and gas infrastructure and also invests alongside oil firms in oil fields, on Monday posted full-year net profit of $539.4 million (341 million pounds) compared to the $433 million it made in 2010.

The consensus forecast was for $522 million from a company-supplied poll of 20 analysts.

Based on the large number of opportunities it was seeing, Petrofac said it expected profit to grow by at least 15 percent this year, putting it on track to meet its goal of more than doubling 2010 earnings by 2015, as it shrugged off what it called significant competition in many of our established markets.

The company, which is currently building major gas and oil facilities in Turkmenistan, Abu Dhabi and Algeria, said it planned to pay a final dividend of 37.20 cents per share, bringing the full-year total to 54.60 cents, 24.7 percent higher than last year's payout.

Shares in Petrofac, which have risen 9 percent in the last month, closed at 1,574 pence on Friday, valuing the firm at 5.5 billion pounds ($8.7 billion).

($1 = 0.6307 British pounds)

(Reporting by Sarah Young; Editing by Adveith Nair)