CB&I has signed a sale settlement to amass Petrofac’s Asset Options enterprise, a serious supplier of operations, upkeep and decommissioning companies for offshore and onshore vitality property. The deal will add a reimbursable contracting mannequin to CB&I’s primarily lump-sum EPC portfolio, broadening income streams and offering steadier money circulate.
The transaction will even increase CB&I’s presence in worldwide markets and deepen relationships with upstream and midstream operators. Publish-close, anticipated in Q1 2026 pending creditor approvals, roughly 3,000 Petrofac workers will transition to CB&I.
Following integration, CB&I’ll function two world enterprise items: CB&I Asset Options, headquartered in Aberdeen, Scotland, and CB&I Storage Options in The Woodlands, Texas.
CB&I President and CEO Mark Butts mentioned the mixture brings “cultural alignment, diversification advantages and alternatives to reinforce efficiency,” whereas Petrofac Asset Options COO John Pearson emphasised that the transfer will permit the enterprise to “reaffirm vital buyer relationships and ship operational excellence” underneath new possession.
