Petrofac Jobs Saved as CB&I Buys Key Business Out of Administration

Petrofac jobs saved after a major rescue deal brought hope to workers across the UK. The energy services firm has secured a buyer for part of its business. As a result, thousands of roles will continue.

Rescue Deal Brings Relief for Workers

US-based company CB&I confirmed the agreement this week. It plans to buy Petrofac’s asset solutions division. The deal should complete in early 2026.
Petrofac employs around 3,000 people in the UK. About 2,000 of those roles sit in Aberdeen. Therefore, the announcement matters deeply to local communities.

What Led to Administration

The company entered administration in October. A failed renewables contract in the Netherlands triggered the collapse. In addition, a broader downturn weakened its finances. Despite those challenges, core operations remained strong. Industry experts say the asset solutions unit stayed attractive. That strength helped secure the sale.
CB&I said the purchase fits its long-term strategy. It wants to expand energy and infrastructure services. Therefore, the deal benefits both firms. Union leaders welcomed the news. They said workers faced months of uncertainty. However, the agreement now offers stability and confidence.
Local officials also praised the outcome. They highlighted the importance of energy jobs to the regional economy. Aberdeen relies heavily on skilled engineering roles. Petrofac’s administrators said talks will continue on remaining assets. They hope to find further buyers. As a result, more jobs could still be protected.
For employees, the announcement brings breathing space. Families can plan ahead again. Moreover, teams can focus on delivering projects. The Petrofac jobs saved deal shows how targeted investment can protect livelihoods. It also highlights ongoing demand for energy expertise. Many will now watch closely as the transition unfolds.