CB&I Acquires Petrofac's Asset Solutions for Energy Growth

Introduction

CB&I Acquires Petrofac's Asset Solutions in a move that strengthens its position across the global energy services value chain.

The acquisition signals a strategic shift toward lifecycle-focused energy infrastructure, combining engineering expertise with long-term asset management capabilities.

As energy companies prioritize operational efficiency, reliability, and decarbonization readiness, the deal positions CB&I to capture growing demand for integrated solutions.

Overview of the Acquisition

The transaction brings Petrofac’s Asset Solutions business under the umbrella of CB&I, significantly expanding its service portfolio beyond engineering and construction.

Asset Solutions specializes in operations, maintenance, and integrity services for complex energy facilities.

The seller, Petrofac, continues to sharpen its focus on core engineering and project delivery, while CB&I gains a recurring-revenue, services-led business aligned with long-term energy trends.

What Is Petrofac’s Asset Solutions Business?

Petrofac’s Asset Solutions unit delivers end-to-end services that support the operational life of energy assets, including:

• Operations and maintenance (O&M)

• Asset integrity and reliability management

• Digital and performance optimization services

• Brownfield modifications and upgrades

These capabilities are critical as operators seek to extend asset life, reduce downtime, and meet stricter environmental and safety standards.

Strategic Rationale Behind the Deal

CB&I Acquires Petrofac's Asset Solutions to complement its strength in engineering, procurement, and construction (EPC) with downstream operational expertise. The combined offering allows CB&I to serve clients across the full asset lifecycle—from concept and build to operation and optimization.

Key strategic benefits include:

• Diversification into stable, service-based revenues

• Deeper, longer-term customer relationships

• Enhanced ability to support energy transition projects

• Improved resilience across commodity cycles

Energy Transition and Growth Opportunities

The acquisition aligns with shifting priorities in the energy sector. Operators are investing in efficiency improvements, emissions reduction, and digital monitoring rather than only greenfield builds.

With Asset Solutions onboard, CB&I can support:

• Decarbonization retrofits and efficiency upgrades

• Hydrogen, carbon capture, and energy transition assets

• Lifecycle optimization for existing infrastructure

• Digital asset performance and predictive maintenance

This positions the combined business to benefit from both traditional energy demand and transition-led investments.

Impact on Customers and Operations

For customers, the deal promises a more integrated service experience. Instead of coordinating multiple vendors, clients can rely on a single partner for engineering, construction, and ongoing operations.

Operationally, the integration is expected to unlock synergies in project execution, workforce utilization, and technology deployment—helping reduce costs and improve asset reliability.

Competitive Positioning

In a crowded energy services market, scale and breadth matter. CB&I Acquires Petrofac's Asset Solutions to differentiate itself as a full-lifecycle energy partner rather than a project-only contractor.

This expanded positioning strengthens CB&I’s competitiveness against global EPC and services firms, particularly in markets where long-term asset stewardship is becoming a priority.

Risks and Integration Considerations

As with any acquisition, execution will be critical. Challenges may include:

• Integrating teams, systems, and processes

• Retaining key technical talent

• Aligning safety, compliance, and delivery standards

• Managing client transitions smoothly

Successful integration will determine how quickly value is realized.

What’s Next for CB&I

Following the acquisition, CB&I is expected to focus on:

• Integrating Asset Solutions capabilities into its core offerings

• Expanding service-led contracts with existing clients

• Targeting energy transition and sustainability projects

• Leveraging digital tools for asset performance management

These steps will help solidify its transformation into a lifecycle energy solutions provider.

Conclusion

CB&I Acquires Petrofac's Asset Solutions as part of a strategic push to grow beyond project-based work into long-term energy asset services.

The deal reflects broader industry shifts toward efficiency, sustainability, and lifecycle value. If executed effectively, the acquisition could significantly enhance CB&I’s growth prospects and relevance in a rapidly evolving global energy landscape.