CB&I to Acquire Petrofac Asset Solutions: 3,000 Jobs, Aberdeen Hub, and a Q1 2026 Target Close
ABERDEEN, Scotland / THE WOODLANDS, Texas — CB&I has agreed to acquire Petrofac’s Asset Solutions business in a Christmas Eve deal that both companies say will secure the future of a major operations, maintenance, and decommissioning provider serving onshore and offshore energy assets. The transaction is expected to bring roughly 3,000 Petrofac employees into CB&I when it closes, currently targeted for the first quarter of 2026, subject to creditor approvals anticipated by the end of January 2026. CB&I+2Petrofac+2 The acquisition is significant not only for its workforce impact, but for what it signals about the North Sea’s industrial direction: as mature basins shift from expansion to late-life operations and decommissioning, the services market is consolidating around companies that can deliver long-duration, safety-critical work with predictable cash flow and global reach.
