Penspen has announced a record year, securing $500 million in new contract awards in 2025, up 120% 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.

The milestone reflects a year of strong global performance across engineering, project management consultancy (PMC) and asset integrity services, supporting national oil companies, utilities and infrastructure developers on complex energy projects worldwide.

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

Kingdom of 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

Energy transition momentum accelerates in Europe

In the UK and Europe, Penspen continued to grow its energy transition order book through hydrogen, CO2 and green ammonia projects, supporting the development of lower-carbon infrastructure at scale. This included two major contract wins: United Infrastructure�s Liverpool Bay project, where Penspen is delivering detailed engineering design for the development of onshore CO2 pipelines and above-ground installations to the Liverpool Bay CCS Storage Facility, and the Trans Adriatic Pipeline, where Penspen is supporting one of Europe�s most strategic energy infrastructure assets through hydrogen repurposing assessment and gap analysis services.

Penspen also secured a new three-year contract to continue the provision of operations and maintenance services for Uniper�s Isle of Grain and Enfield power stations, reinforcing its long-term role supporting critical energy assets.

Expansion in Latin America

In Latin America, Penspen expanded its service offering with the award of a major project management services contract by Grupo Carso, supporting the construction of a new pipeline in Mexico and helping secure access to energy for communities in the north of the country.

Additional asset integrity contracts were also awarded across Colombia, Peru and Chile, with clients including Sempra Infrastructure, ENAP and Perenco, strengthening Penspen�s delivery footprint across the region.

Middle East remains a strategic growth engine

The Middle East continued to be a cornerstone market for Penspen in 2025, with the UAE remaining its largest and most strategic country of operation, supported by deep engagements across the ADNOC Group.

During the year, Penspen secured and executed multiple high-value PMC assignments supporting critical gas infrastructure, including LNG pre-conditioning, compression facilities, utilities and production enhancement programmes, alongside multiple offshore and onshore PMC packages.

The breadth and scale of delivery across ADNOC Gas, Offshore, Onshore, Distribution and downstream entities firmly establish Penspen as one of the ADNOC Group�s top-20 energy sector contractors operating in the UAE.

In Saudi Arabia, Penspen continued to build momentum through its selection under a framework with ENOWA, executed through a joint venture with Dar Al Handasah and in collaboration with Technip, positioning Penspen at the heart of NEOM�s next-generation energy and water infrastructure.

Chief Executive Officer, Peter O�Sullivan, 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.

�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.�