Story perspectives

CB&I to Acquire Petrofac, Preserving Thousands of UK Jobs

12/25/2025

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Summary

Story summary

Petrofac's asset solutions business is being bought by American company CB&I, with the acquisition expected to finalize in Q1 2026.
The sale comes as Petrofac seeks to preserve roles after administration in October linked to a failed Netherlands renewables contract and broader decline.
Petrofac employs about 3,000 people in the United Kingdom, including roughly 2,000 in Aberdeen.
The transaction could preserve thousands of UK jobs, particularly in Aberdeen.

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Story summary

Petrofac's asset solutions business is being bought by American company CB&I, with the acquisition expected to finalize in Q1 2026.
The sale comes as Petrofac seeks to preserve roles after administration in October linked to a failed Netherlands renewables contract and broader decline.
Petrofac employs about 3,000 people in the United Kingdom, including roughly 2,000 in Aberdeen.
The transaction could preserve thousands of UK jobs, particularly in Aberdeen.