Petrofac's operations business secures $500 million in contracts

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

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

“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.," commented John Pearson, Chief Operating Officer of Petrofac's Asset Solutions. 

“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,” Pearson continued.