CB&I has signed a sale settlement to amass Petrofac’s Asset Options enterprise, a serious supplier of operations, upkeep and decommissioning providers for offshore and onshore power belongings. The deal will add a reimbursable contracting mannequin to CB&I’s primarily lump-sum EPC portfolio, broadening income streams and offering steadier money movement.
The transaction may even increase CB&I’s presence in worldwide markets and deepen relationships with upstream and midstream operators. Put up-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 models: CB&I Asset Options, headquartered in Aberdeen, Scotland, and CB&I Storage Options in The Woodlands, Texas.
CB&I President and CEO Mark Butts stated the mix brings “cultural alignment, diversification advantages and alternatives to reinforce efficiency,” whereas Petrofac Asset Options COO John Pearson emphasised that the transfer will enable the enterprise to “reaffirm essential buyer relationships and ship operational excellence” below new possession.