Petrofac

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.

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

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

• Oil and gas EPC
• Energy infrastructure services
• Offshore construction services
• Asset management services
• Energy project management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. Training and Competence Services: National workforce development, training centre design and management, and vocational training courses delivered through joint ventures like Takatuf Petrofac Oman.
4. Project Development and Consulting: Front end engineering design (FEED), concept selection, and project development consultancy services for energy projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core 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

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered major.

• China Huanqiu Contracting & Engineering CorporationmajorStrategic or Co-development Partner · 26 May 2026Joint 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 ConsortiummajorChannel Partner/ Reseller/ Distributor · 14 January 2025Egyptian contractor consortium awarded $1.24 billion EPC contract for LNG pre-conditioning plant as part of ADNOC Gas Ruwais LNG terminal infrastructure.
• SiemensmajorTechnology or Integration · 1 January 2018Consortium partner for BorWin3 offshore wind grid connection project. Siemens provided HVDC technology for the platform while Petrofac handled EPCI. Project completed in 2019.
• BechtelmajorStrategic or Co-development Partner · 1 January 2015Integrated 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 BVmajorStrategic or Co-development Partner · 1 January 2014Joint 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

Broad 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

• Xx.com/PetrofacGroup
• YouTubeyoutube.com/PetrofacGroup
• LinkedInlinkedin.com/company/petrofac_3
• Instagraminstagram.com/petrofacgroup
• Facebookfacebook.com/PetrofacGroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A13 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petrofac