LR Invests in Senergy to Build Energy Sector Service

MarineLink.com
Tuesday, September 03, 2013
left to right: Senergy group CEO, James McCallum and John Wishart, Energy Director, Lloyd's Register

Lloyd’s Register (LR) announced a significant investment in global services company Senergy to create an industry-leading offering - from the reservoir to refinery and beyond.

The deal will see LR and Senergy provide a unique and comprehensive portfolio of services to the upstream sectors of exploration, production and transportation through to refinery and beyond.

The combined business will also provide life of field services from inception to decommissioning and offer unparalleled opportunities for technical and consulting staff to work with leaders in the industry by providing cutting edge services to customers.

London-headquartered LR provides independent assurance and expert advice to companies operating high-risk, capital-intensive assets in the energy and transportation sectors. Helping clients to ensure the quality of construction and operation of critical infrastructure – from ships and oil platforms to power plants and trains, it also provides business assurance services it helps companies manage their systems and risks across a wide range of sectors.

The company also provides a range of technical assurance and consulting services to the drilling industry through LR Energy – Drilling, created from the acquisitions of ModuSpec and West Engineering Services.

Formed in 2005, Senergy applies expertise and technology to assist the development and management of oil and gas fields and alternative energy projects. Its suite of core technical services centre on subsurface, well engineering and operations, site survey and geo-engineering, facilities development solutions and power engineering which are complemented by software and training products.

Headquartered in Aberdeen, Senergy has more than 650 employees and a further 100 associates, operating from offices in the U.K., Norway, Middle East, Malaysia, Australia, U.S. and Indonesia. Its turnover in the last financial year was £121 million, making the investment the largest the Lloyd’s Register Group has made to date.

Senergy will continue to operate as an independent company for three years, by which time LR will have acquired the balance of its shares. However, Senergy will become a member of the Lloyd’s Register Group and will work with LR to provide a broad service portfolio to the oil and gas and broader energy market. LR will have representation on the board of Senergy.

John Wishart, energy director at Lloyd’s Register said, “The investment in Senergy further expands our range of technical assurance services to the oil and gas sector, building on the complementary capabilities we have built up through the acquisitions of West Engineering, ModuSpec, ODS and Scandpower. The combined entity is now the industry’s leading provider in supporting safe operations in the discovery of new energy resources.”


Senergy group CEO James McCallum said, “Lloyd’s Register provides the perfect fit for our business. We strongly support the group’s mission to uphold the safety of life, property and the environment, and see a strong alignment in terms of objectives, culture, excellence and management style.”

LR was advised by PwC Corporate Finance in relation to its investment. Trowers and Hamlins acted as legal advisors to LR.Senergy was supported by HBJ Gately and Ernst & Young Corporate Finance in the transaction.

lr.org

senergyworld.com
 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Taiwan's Yang Ming Marine to Add Bigger Vessels to its Fleet

Yang Ming Marine Transport Corporation, Taiwnanese global shipping and logistics services company,  will take delivery of 14 large-sized ships over the next two years,

Hapag-Lloyd Adds North Europe-USEC Service

Hapag-Lloyd will open a new weekly service between North Europe and the US East Coast, the company said in its press release.     The new route – to be christened

Khamenei Says Iran Nuclear Weapons are a U.S. "Myth"

Iran's Supreme Leader Ayatollah Ali Khamenei told military commanders on Sunday the United States had created the "myth" of nuclear weapons to portray Iran as a threat,

Finance

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

News

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Termination of Seadrill Unit's and Rosneft Deal Extended

North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement,

Taiwan's Yang Ming Marine to Add Bigger Vessels to its Fleet

Yang Ming Marine Transport Corporation, Taiwnanese global shipping and logistics services company,  will take delivery of 14 large-sized ships over the next two years,

Consulting

Krill Systems Partners with Six Maritime

In recognition of the growing demand for Krill Vessel Fuel Management Systems (VFMMS) worldwide, including certain regions that are currently experiencing political instability, Krill Systems Inc.

RT to Frame Guidelines against Cyber Attacks

The Round Table of international shipping associations (RT) comprising BIMCO, ICS, Intercargo and INTERTANKO announced today that they are developing standards

Fugro Expertise for Wind Farm Developers in Netherlands

Fugro has been contracted by the Netherlands Enterprise Agency, part of the Ministry of Economic Affairs, to execute the geotechnical site investigation and

Offshore Energy

Termination of Seadrill Unit's and Rosneft Deal Extended

North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement,

Chevron Hires Norce Endeavour for Thailand Ops

Solstad Offshore ASA (SOFF) has fixed the 2011-built 18,000 dwt crane barge Norce Endeavour to Chevron for work in Thailand next year for around 200 days.   Solstad

PSV Launching Ceremony at Gondan

At high tide today at Gondan Shipyard in Figueras, the New PSV (TBN) for the Norwegian Ship-Owner, Simon Møkster Shipping, was launched. Different personalities

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3396 sec (3 req/sec)