Petrofac
Petrofac Limited is a Jersey-incorporated energy services company providing EPC, operations and maintenance, and training services to oil and gas companies globally. Now in UK court-supervised administration after the October 2025 TenneT contract termination, it has divested Asset Solutions and Petrofac Emirates.
- Company typePrivate
- Founded1981
- HeadquartersLondon, United Kingdom
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Petrofac does
Petrofac Limited is a Jersey-incorporated, London-based energy services company founded in 1981 that historically provided engineering, procurement, construction (EPC), operations and maintenance (O&M), and consulting services to the international oil and gas industry. The company served national oil companies (ADNOC, Sonatrach, KNPC, Basra Oil Company), international oil companies (BP), and energy transition developers across more than 20 countries, executing over 200 major projects spanning upstream oil and gas, refining, petrochemicals, offshore wind (HVDC platforms), hydrogen, and carbon capture. Its core technology stack comprises integrated EPC/EPCI delivery, an Emergency Response Service Centre (ERSC) handling 12,000+ emergency calls, the pioneering Service Operator Model on Anasuria, asset life extension techniques, and an AI-enabled asset maintenance product called Petrolytics.
The company's revenue model combined large multi-year fixed-price EPC contracts (typically $100M to $1.5B+, e.g., $1.5B Algeria petrochemical, $1.2B ADNOC Das Island, $700M Habshan gas compressor) with managed services (O&M, Duty Holder, Service Operator contracts), training services via joint ventures, and FEED/consulting. It sold through direct enterprise sales and competitive tendering to a concentrated base of state-owned energy majors, supported by regional offices in the Middle East, UK, North Africa, APAC, India, and CIS. Petrofac went into UK court-supervised administration on 28 October 2025 following TenneT's termination of a 2 GW Dutch offshore wind contract, with reported debts approaching $4 billion, and has since divested its two largest operating businesses: Asset Solutions to CB&I (completed April 2026, ~3,000 employees) and Petrofac Emirates to a Mason Capital Management-led consortium (completed May 2026, ~3,000 employees). Existing shareholders were wiped out in the restructuring.
Petrofac firmographics
Firmographics- Name
- Petrofac
- Legal name
- Petrofac Limited
- Website
- https://petrofac.com
- Company type
- Private
- Founded year
- 1981
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Petrofac Limited is a Jersey-incorporated energy services company providing EPC, operations and maintenance, and training services to oil and gas companies globally. Now in UK court-supervised administration after the October 2025 TenneT contract termination, it has divested Asset Solutions and Petrofac Emirates.
- Ownership category
- akta.pro rank
Petrofac industry classification
Industry- Product category
- Oil and Gas EPC and Energy Services
- NAICS
- Petroleum Refineries (32411)
- SIC
- Petroleum Refining (2911)
- akta.pro primary industry
- Chemical & Petrochemical Plant Construction (IMAFADAA)
- akta.pro secondary industries
- Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA)
Keywords
Where Petrofac is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices8 records
Markets served
Petrofac business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- EPC Contracts: Engineering, Procurement and Construction contracts for oil, gas, and energy infrastructure projects. Petrofac secured major contracts including $1.2 billion ADNOC Gas Das Island project, $700 million Habshan gas compressor plant, $330 million Habshan project, and $1.5 billion Algeria petrochemical project.
- Operations and Maintenance Services: Ongoing operations, maintenance, and asset management services for onshore and offshore energy facilities. Includes Service Operator contracts, Duty Holder services, and inspection, repair and maintenance services.
- Training and Competence Services: National workforce development, training centre design and management, and vocational training courses delivered through joint ventures like Takatuf Petrofac Oman.
- Project Development and Consulting: Front end engineering design (FEED), concept selection, and project development consultancy services for energy projects.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Large-scale EPC contracts for energy infrastructure projects |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
Petrofac product offering
Product offeringCore offering
Petrofac is an integrated energy services company that designs, builds, and operates onshore and offshore energy infrastructure for the oil and gas, refining, petrochemicals, and new/renewable energy sectors. Its core offerings include engineering, procurement, construction and commissioning (EPC/EPCC/EPCI) services, operations and maintenance, asset management, training and workforce development, decommissioning, and emergency response. The company serves national oil companies, international oil companies, governments, and asset operators across the full energy asset lifecycle.
Product overview
Petrofac is an energy services company offering a comprehensive portfolio of integrated services for designing, building, and operating energy infrastructure. The company's offerings span four main categories: Engineering and Construction (EPC/EPCC/EPCI) services for upstream oil and gas, refining and petrochemicals, and renewable energy projects; Operations and Asset Management services including maintenance, integrity management, and performance optimization; Training and Competence services for workforce development; and specialized Decommissioning and Emergency Response services. Petrofac's offerings also include technology-enabled solutions such as Petrolytics (AI-powered asset maintenance) and digital twin capabilities. The company operates across the full energy asset lifecycle from project development through execution to operations and eventual decommissioning.
Differentiator
Problem solved
Functional benefit
Products and services
- Upstream Oil and Gas Services
- Refining and Petrochemicals Services
- New and Renewable Energy Services
- Project Development
- Project Execution Services
- Training and Competence Services
- Asset Management Services
- Decommissioning Services
- Emergency Response Services
- Petrolytics
Quantifiable outcome
- 55 million work-hours without LTI on Kuwait Clean Fuels Project
- +5 more outcomes
Companies that use Petrofac
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
Petrofac technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Petrofac partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered major.
- China Huanqiu Contracting & Engineering CorporationmajorJoint venture partner for approximately US$1.5 billion petrochemical EPC contract in Algeria with Sonatrach subsidiary STEP Polymers SPA. Petrofac's share exceeds US$1 billion, building on 25-year track record in Algeria.
- Enppi and Petrojet ConsortiummajorEgyptian contractor consortium awarded $1.24 billion EPC contract for LNG pre-conditioning plant as part of ADNOC Gas Ruwais LNG terminal infrastructure.
- SiemensmajorConsortium partner for BorWin3 offshore wind grid connection project. Siemens provided HVDC technology for the platform while Petrofac handled EPCI. Project completed in 2019.
- BechtelmajorIntegrated joint venture for Al Taweelah Alumina Refinery. Petrofac provided local knowledge, suppliers, and construction practices complementing Bechtel's minerals expertise. More than 80% of project spend remained in UAE.
- Samsung Engineering Co Ltd and CB&I Nederland BVmajorJoint venture partnership for Kuwait Clean Fuels Project. Petrofac served as lead partner managing nine new process units and upgrading six existing units.
Scale indicators10 records
Recent moves9 records
Expansion highlights4 records
Petrofac competitors and assessment
Company assessmentBroad incumbents
- Fluor Corporation: US-headquartered global EPC firm serving refining, petrochemical, LNG, and mining clients. Comparable on large lump-sum refining and petrochemical EPC scopes that historically anchor Petrofac's project pipeline.
- KBR: US-based government services and sustainable technology solutions provider with a sizable energy EPC, ammonia/hydrogen, and consulting franchise. Overlaps with Petrofac on refining/petrochemical EPC, FEED, and energy transition project work.
- Worley: Australian-headquartered global energy project services and consulting firm delivering engineering, procurement, construction management, and operations support. Broader portfolio than Petrofac but directly competes on refining, petrochemical, and energy transition EPC scopes.
- Bechtel: Global mega-project EPC contractor with which Petrofac has partnered (Al Taweelah Alumina Refinery JV). Overlaps with Petrofac on large refining, petrochemical, LNG, and infrastructure EPC tenders for sovereign and NOC clients.
Direct peers
- Saipem: Italian-headquartered global oil & gas EPC and offshore contractor with a comparable portfolio of upstream, refining, petrochemical, and renewable energy projects. Direct competitor for ADNOC, Sonatrach, and other NOC tenders that Petrofac has historically pursued.
- TechnipFMC: Global subsea, onshore/offshore, and surface EPC contractor serving the same upstream and midstream oil & gas customers. Competes head-to-head with Petrofac on EPCI scopes for offshore platforms, gas processing, and LNG-related infrastructure.
- Subsea 7: Subsea engineering, construction, and services contractor for offshore oil & gas and renewables. Competes with Petrofac on SURF scopes and offshore wind foundations/grid connection packages in the North Sea and globally.
- John Wood Group: Aberdeen-based energy services and engineering consultancy providing EPC, project management, and operations support across upstream, midstream, refining, and renewables — directly comparable to Petrofac's UK and Middle East engineering and asset services franchises.
- McDermott: Houston-based EPC specialist for offshore and onshore energy projects, including platforms, jackets, pipelines, and offshore wind. Direct overlap with Petrofac's offshore wind (e.g., BorWin3) and Middle East EPCI work.
- CB&I: US-based EPC and storage tank specialist that acquired Petrofac's Asset Solutions business (~3,000 employees) in April 2026, deepening its presence in operations, maintenance, and decommissioning. Competes directly with Petrofac's O&M and decommissioning offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Petrofac social profiles
Digital presencePetrofac financial estimates
Financial estimateRevenue estimate
Valuation estimate
Petrofac leadership team
Management profileNumber of profiles
Profiles4 records
Petrofac subsidiaries and ownership
Company hierarchySubsidiaries3 records
Petrofac funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Petrofac M&A and investment
M&A and investmentM&A13 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Petrofac
What does Petrofac do?
Petrofac is an integrated energy services company that designs, builds, and operates onshore and offshore energy infrastructure for the oil and gas, refining, petrochemicals, and new/renewable energy sectors. Its core offerings include engineering, procurement, construction and commissioning (EPC/EPCC/EPCI) services, operations and maintenance, asset management, training and workforce development, decommissioning, and emergency response. The company serves national oil companies, international oil companies, governments, and asset operators across the full energy asset lifecycle.
Is Petrofac a public or private company?
Petrofac is a private company. It is classified as unknown and is currently operating.
When was Petrofac founded?
Petrofac was founded in 1981. It employs 5,001 to 10,000 people.
Where is Petrofac based?
Petrofac is headquartered in London, United Kingdom, in the Europe region.
How does Petrofac make money?
Four revenue lines are on record. EPC Contracts are the primary driver. The others are operations and Maintenance Services, training and Competence Services and project Development and Consulting.
Who are Petrofac's main competitors?
Broad incumbents on record are Fluor Corporation, KBR, Worley and Bechtel. Direct peers are Saipem, TechnipFMC, Subsea 7, John Wood Group, McDermott and CB&I.
Does Petrofac have an API?
No public API is recorded for Petrofac.
What industry is Petrofac in?
Petrofac's product category is Oil and Gas EPC and Energy Services. Its primary akta.pro industry code is IMAFADAA, Chemical & Petrochemical Plant Construction, with a secondary code of EUAEAAAF, Wind Power Plant EPC (Onshore/Offshore). Its NAICS code is 32411 and its SIC code is 2911.