Penspen has announced a record year, securing $500 million in new contract awards in 2025, up 120 per cent on 2024.

The performance was driven by strong growth across the Middle East, Africa, Europe and the Americas, supported by major energy infrastructure and energy transition programmes.

Penspen’s record year was underpinned by growth and delivery across its key operating regions:

  • Middle East and Africa: 65 new contracts worth $456million, spanning project management supervision and consultancy services, FEED, detailed design and integrity assessment
  • Saudi Arabia: 12 new agreements, covering studies, FEED, detailed design and project management supervision services
  • UK and Europe: 177 new contracts worth $16million, including fuelling terminal operations, pipeline maintenance and inspection, hydrogen repurposing and blending, carbon capture studies, gas compression upgrades and pipeline diversions
  • Americas: 54 new contracts worth $5million, including pipeline fitness-for-service, electrical interference and cathodic protection studies, gas pipeline project management, production operations support and environmental testing

Peter O’Sullivan, Chief Executive Officer, said: “2025 was a year marked by scale, complexity and geographic reach for Penspen, reinforcing our position as a trusted engineering, project management and asset integrity partner to national oil companies, utilities and infrastructure developers. With cumulative contract awards of $500 million, 2025 stands out as one of the strongest commercial and delivery years in Penspen’s history.”

He added: “While we continued to build momentum across Europe and the Americas – particularly in energy transition – our performance was anchored by exceptional delivery in core markets where demand for large-scale, complex energy infrastructure remains strong. This record year has been driven by our people’s unwavering commitment to quality delivery; in 2025, our headcount increased to over 1,700 talented people, with new offices opened in Aberdeen and Bogota.”

Neale Carter, Executive Vice President, Middle East, Africa and Asia Pacific Regions, added: “ The Middle East played a pivotal role in Penspen’s 2025 growth, contributing the largest share of new contract awards and reinforcing the region’s role as a strategic engine for the business. Our long-standing relationships across the UAE and Saudi Arabia, combined with our ability to deliver complex gas, LNG infrastructure and PMC programmes at scale, continue to differentiate Penspen in a highly competitive market. With sustained investment across gas, energy security, aviation, and transition-linked infrastructure, we see significant opportunity to build on this momentum in the years ahead.” 

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