Specialist well decommissioning services provider Well-Safe Solutions has today announced the completion of its third investment round, raising £50 million for the company. Well-Safe Solutions will use the funds for the purchase of its third rig and to broaden the capabilities it offers to clients around the world. The funding round was led by MW&L Capital Partners, a London-based principal investment and financial advisory firm, with participation from a consortium of new …
23/06/2022
Motive Offshore and Hiretech bring enhanced decommissioning technology to the Middle East
Marine and lifting equipment specialists Motive Offshore Group and subsea and decommissioning equipment rental specialists Hiretech Limited have joined forces in the Middle East to bring superior technology and service solutions to a burgeoning market. Harnessing its UAE hub and existing catalogue of subsea marine and lifting equipment services, Motive is bolstering its current suite with Hiretech’s extensive rental fleet …
21/06/2022
Coast Renewable Services and Peterson Energy Logistics to form offshore-wind focused joint venture
International energy logistics provider Peterson and Coast Renewable Services have today announced that they have formed a joint venture company to provide integrated services to the offshore wind sector. The new company, Coast Offshore, will combine Peterson’s 50 years of energy logistics experience with Coast Renewable Services’ extensive experience in providing full turn-key solutions to the onshore wind sector. Coast …
Well-Safe Solutions have been contracted by Ithaca Energy to plug and abandon (P&A) six wells on the Anglia platform in the Southern North Sea, approximately 55km from the UK mainland. The contract – for an undisclosed sum – will see the Aberdeen-based well decommissioning specialists provide project management, well engineering and all managed delivery services for the project. The Well-Safe Protector harsh …
Rebranding unites divisions under one name, one company and one team Appointment of Tom Murdoch as MD provides clarity and direction for future Strong year-end results with turnover of £6million provides platform for growth Brimmond Group, the Aberdeenshire-based provider of hydraulic, lifting and mechanical equipment and services, has integrated the divisions of its business by absorbing sister company Rigrun Europe. The company, …
Move sees new roles for current Group CEO David Currie, Proserv Controls CEO Davis Larssen and arrival of former RenewableUK CEO Hugh McNeal. Global controls technology leader Proserv has announced a high-level senior management and corporate realignment as the business continues to evolve and pivot towards the future energy landscape. Present Group Chief Executive Officer David Currie will become Chairman …
Petrofac, a leading provider of services to the global energy industry, has been awarded an Integrated Services Provider (ISP) contract by Anasuria Operating Company (AOC). Under the contract, Petrofac will provide onshore and offshore personnel and a range of technical support services. The five-year contract, which has an option to extend, starts in June. The new contract follows a long …
Aberdeen-headquartered energy services giant Wood has signed a deal to sell its 7,000-employee built environment business to WSP Global. The deal, with gross proceeds of $1.9 billion, is expected to complete in the second half of this year to WSP, a Canadian engineering services firm. Wood said the proceeds from the sale would be used to reduce the group’s net …
Aberdeen-headquartered KCA Deutag has announced a $550m deal to acquire the onshore drilling business of Italian contractor Saipem. Expected to close in the fourth quarter of this year, the deal will also see Saipem also take a 10% stake in KCA Deutag. Once complete, the combination with KCA will create a “leading global onshore drilling business”, with 11,000 employees globally …
EnQuest has said its Kraken FPSO is “almost impossible to electrify” and is looking at creative alternatives to decarbonise the asset. The North Sea Transition Deal, signed last year, set out crucial emissions targets for the industry this decade: an initial 10% cut by 2025, then 25% by 2027 – which the industry is confident of achieving – and a more uncertain …