Latest Petrofac News & Updates

See the latest news and media coverage for Petrofac. We track all announcements, press releases, and industry mentions in real time, all in one place.

Petrofac

International energy engineering and services company

petrofac.com

Headquarters: London, United Kingdom
Founded year: 1981
Company type: Public company
Number of employees: 10,000–15,000
Industry: Construction & Engineering

Last updated August 7

Latest news about Petrofac

In short: Petrofac slid from strong 2012 results into restructuring, administration, asset sales, and legal challenges.

Company announcements

August 6 Petrofac

Petrofac completes strategic investment from Al Mazrui

Al Mazrui International joined existing investors, strengthening Petrofac Emirates' ownership structure and supporting regional growth in the energy sector.

May 26 Petrofac

Petrofac completes sale of Petrofac Emirates to Mason Capital and Pearlstone

Mason Capital and Pearlstone acquired the UAE division. Tareq Kawash becomes CEO, while CFO Afonso Reis e Sousa steps down.

April 3 Petrofac

Petrofac begins Northern Endeavour decommissioning

The FPSO arrives at MARS in Denmark for dismantling, reinforcing Petrofac's leadership in late-life asset management and decommissioning.

October 27, 2025 Petrofac

Petrofac seeks administration for holding company

Targeted restructuring follows TenneT's termination of Dutch work. Operations continue while exploring M&A solutions.

Media coverage

August 7 Yahoo Finance

Al Mazrui Invests in Petrofac

Al-Mazrui International has completed an investment in Petrofac Ltd (Petrofac), a boost for the British energy engineering company following an insolvency process. The Emirati investor...

May 27 Rigzone

Petrofac Emirates Sold to Mason-Led Consortium

Petrofac, under administration since 2025, said it had completed the divestment of its core engineering and construction business in the UAE to a consortium of...

May 27 Yahoo Finance

Petrofac Emirates Sold to Mason-Led Consortium

British energy engineering company Petrofac Ltd, under administration since 2025, said Tuesday it had completed the divestment of its core engineering and construction business in...

March 17 Upstream Online

Petrofac sells key business unit to US-based investor group | Upstream

UK-based contractor said deal should help Petrofac Emirates emerge as 'strong, self-sustaining company' with better balance sheet...

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