What exactly is being sold in the CB&I Petrofac acquisition?

CB&I is set to acquire Petrofac’s Asset Solutions unit, which provides reimbursable operations and maintenance, brownfield projects, and decommissioning. The business includes around 3,000 staff and a strong North Sea presence. It offers steadier cash flows than lump-sum projects and should maintain service continuity for clients while moving under CB&I’s ownership.

How much money will Petrofac receive and who gets it?

Administrators currently guide to US$45–$55 million of net proceeds from the sale, quoted in US dollars. They expect those proceeds to go to secured creditors rather than equity. Final outcomes depend on approvals and closing conditions, so investors should follow official updates and filings for confirmation.

When will the transaction close and what approvals are needed?

The parties target completion in Q1 2026. The process needs creditor approvals and customary reviews, plus contract consents or novations for certain customers. Investors should watch for creditor meetings, court filings, and regulatory notices through 2025, as these milestones will signal whether the transaction remains on track.

What does this mean for North Sea operations and service peers?

The sale keeps Asset Solutions active in North Sea operations under a larger owner. Expect continued focus on integrity, late-life work, and decommissioning. For peers, the deal highlights interest in reimbursable O&M within oilfield services M&A, which could influence pricing and bidding. Customers should see continuity while integration planning proceeds.

Global Market Insights

PFC.L Stock Today, December 24: CB&I to Buy Petrofac Asset Solutions

ByHuzaifa Zahoor December 25, 2025December 25, 2025

The CB&I Petrofac acquisition puts Petrofac’s Asset Solutions unit on a new path and sharpens attention on London-listed PFC.L. CB&I agreed to buy the reimbursable operations and maintenance and decommissioning business, with administrators guiding to US$45–$55 million of net proceeds for secured creditors. About 3,000 employees are set to transfer, a big shift for UK and North Sea operations. Closing is targeted for Q1 2026, subject to creditor approvals. We break down what this means for GB investors today and what to watch next.