North Sea Oil Giant Petrofac’s Shocking Collapse Puts 2,000 Jobs at Risk
Petrofac, a leading services provider to the oil, gas and renewable energy industry, filed for administration on 27 October 2025, after last-ditch restructuring talks fell apartireland-live.ie. The company confirmed it has applied to court to appoint administrators, effectively admitting it cannot meet its obligations without protection from creditorsireland-live.ie. Petrofac stressed that the insolvency filing affects only its top holding entity – all operating subsidiaries will continue to trade while “alternative options” are exploredireland-live.iereuters.com. In an announcement, the firm said administrators will work with management to “preserve value, operational capability and ongoing delivery” across Petrofac’s projectsnews.sky.com. Over 2,000 jobs – mostly in Scotland – hang in the balance as the company collapsesireland-live.ie. Petrofac’s UK business, based in Aberdeen, supports offshore platforms for majors like BP and Shellireland-live.ie. It employs around 7,300 people globally, including ~2,000 at its North Sea hubireland-live.ie. For those workers and their families, the sudden move into administration has unleashed uncertainty. However, there is a glimmer of hope: people close to Petrofac say they are “hopeful a buyer can be found swiftly” for its North Sea operations, possibly within daysnews.sky.com. A quick sale of key assets to a rival or investor could preserve jobs and critical services in
