Petrofac Scoops $500M Worth of Contracts So Far in 2025

(Credit: Petrofac)

Oilfield services provider Petrofac, through its Asset Solutions division, has been awarded a collection of scope expansions and new contracts in the first quarter of 2025, totaling $500 million.

The awards – which realize growth in Asset Solutions’ core markets and target growth geographies, including the U.K., 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.

“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,” said John Pearson, Petrofac’s Chief Operating Officer.