Petrofac’s Asset Solutions division has been awarded a collection of scope expansions and new contracts in the first quarter of 2025, totalling US$500 million.

The awards – which realise growth in Asset Solutions’ core markets and target growth geographies, including the UK, Europe, Middle East, Africa, Asia Pacific and US – span late-life asset management, decommissioning and integrated services.

Commenting, Chief Operating Officer John Pearson said:

“Following a strong year for awards in 2024, our Asset Solutions business has had a great start to 2025 with half a billion dollars’ worth of scopes and contract expansions secured already, and a strong pipeline of opportunities across a range of geographies during the remainder of the year.

“These awards, with a range of clients, demonstrate the strength in our mature asset management and decommissioning offering, and form part of our strategy to expand our services into selected new geographies. We look forward to continuing this trajectory throughout the remainder of 2025 and beyond.”

About Petrofac

Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies. Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs. Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 8,500 employees based across 31 offices globally.