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. These awards represent growth in Asset Solutions’ core markets and target growth geographies, including the UK, Europe, Middle East, Africa, Asia Pacific, and the United States. The contracts span late-life asset management, decommissioning, and integrated services.
John Pearson, Chief Operating Officer of Petrofac’s Asset Solutions, commented on the achievement: “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.”
Pearson further noted that these awards, secured with a range of clients, demonstrate the strength in their mature asset management and decommissioning offering. They form part of Petrofac’s strategy to expand services into selected new geographies, with expectations to continue this trajectory throughout the remainder of 2025 and beyond.
Source: World Oil
