ABERDEEN, Scotland, July 16, 2026 /PRNewswire/ -- CB&I's Asset Solutions business (formerly part of Petrofac) has secured a further contract with EnQuest to continue managing the Kittiwake asset in the UK North Sea as Duty Holder through to cessation of production (COP) and decommissioning.

Extension of the duty holder contract reaffirms CB&I's team as an enduring part of Kittiwake's success story. The contract expands CB&I's scope of work beyond late-life asset management to deliver COP and facilitate decommissioning of the platform.

Having pioneered the outsourced duty holder model in 1997, CB&I's Asset Solutions team has fulfilled this role onboard Kittiwake since 2003 (supporting EnQuest since 2014, and Centrica and Venture prior). The platform operates as a production hub for several subsea tie-backs comprising the Greater Kittiwake Area.

To date, Asset Solutions' success onboard the platform has included enhancing operational performance and extending the asset's operating life. With a stellar safety record of over 20 years without a lost time incident (LTI), the team has demonstrated the strong safety culture and value of having a consistent and committed long-term crew onboard, supported by the onshore team in Aberdeen.

The award strengthens Asset Solutions' position as the partner of choice for outsourced asset operations, creating lasting value for operators. Through the optimisation of late life asset management, the team has unlocked greater economic value and extended safe operating life, through to cost-effective decommissioning.

John Pearson, Chief Operating Officer of CB&I Asset Solutions, commented: "Asset Solutions has been long associated with Kittiwake and it's fitting that our team has been selected by EnQuest to complete its journey. The award to extend our services as asset Duty Holder beyond COP, through decommissioning is testament to our productive and longstanding relationship with EnQuest and our unparalleled experience as an outsourced Duty Holder of the asset for nearly 23 years. Kittiwake is synonymous with strong team spirit and safe practices, showcasing the value our team adds as a trusted partner of choice. Whilst bittersweet to anticipate the end of life of the asset, we are honoured to support EnQuest during this final phase."

John Telford, Kittiwake Asset Manager, EnQuest commented: "CB&I's Asset Solutions team has been an integral part of the Kittiwake story for more than two decades, consistently demonstrating strong operational performance, an unwavering commitment to safety and a deep understanding of the asset. As Kittiwake approaches the next stage of its lifecycle, we are pleased to extend this longstanding partnership and leverage our 'one team' approach to support safe, efficient and responsible operations."

About CB&I

CB&I delivers integrated storage and asset‑management solutions that help customers operate safely, reliably, and efficiently across the lifecycle of their facilities. Through our two global business units - Storage Solutions, the world leader in tanks, terminals, and storage systems, and Asset Solutions, a leading provider of operations, management, wells and decommissioning services - we combine technical excellence with execution capability to extend asset life, optimize performance, and maximize value. CB&I is owned by a consortium of financial investors led by Mason Capital Management LLC. To learn more, visit www.cbi.com.

Forward-Looking Statements

CB&I cautions that statements in this communication that are forward-looking, and provide other than historical information, involve risks, contingencies, and uncertainties. These forward-looking statements include, among other things, statements about the expected timing and execution of projects, and statements that describe our business strategy, outlook, objectives, plans, intentions, or goals. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are based on various underlying assumptions and are subject to numerous risks, contingencies, and uncertainties, many of which are beyond our control, including, among others: adverse changes in the markets in which we operate or in credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope, or timing of contracts, contract cancellations, change orders, and other modifications or actions by our customers and other business counterparties; changes in industry norms or codes or applicable laws; actions by lenders, other creditors, customers, and other business counterparties of CB&I; and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of CB&I's management as of the date hereof. Except to the extent required by applicable law, CB&I undertakes no obligation to update or revise any forward-looking statement.

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