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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Norman Murray, Petrofac Chairman Quits

Petrofac, the international oil & gas facilities service provider, today announces that Norman Murray, who has been Chairman since May 2011, has resigned from

MN 100: AEP River Operations

16150 Main Circle Drive, Suite #400 St. Louis, MO 63017 Tel: (636) 530-2100  Email: info@aepriverops.com Website: www.aepriverops.com President: Keith Darling The

MN 100: Caterpillar Marine

Neumühlen 9 22763 Hamburg/Germany Tel: (713) 895-1449 Email: cat_power@cat.com Website: www.marine.cat.com Managing Director: Nigel Parkinson The Company: Caterpillar

Finance

Polynesian Shipping Sold to Neptune Pacific Line

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited.

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

W.Africa Crude Slow to Trade; Nigerian Glut Fading

Angolan cargoes for October loading are so far finding buyers slowly, traders said on Friday, while there were further signs that an overhang of September-loading Nigerian cargoes is being absorbed.

News

Mexican Alfa Tie-up with Pemex for Onshore Exploration

Mexican conglomerate Alfa He is interested in participating in association with the state oil company Pemex Exploration Projects in fields on earth, aunque también

YPF Oil Extends Operating Agreement with Sinopec to 2027

Argentina's state oil company YPF agreed Friday to extend its operation until 2027 in partnership with a local unit of China's Sinopec oil in an area of ​​a

Polynesian Shipping Sold to Neptune Pacific Line

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited.

Consulting

EBDG Completes Repower of COLUMBIA

Elliott Bay Design Group (EBDG), a leading naval architecture and marine engineering firm with offices in Seattle, New Orleans and Ketchikan, Alaska today announced

Watson Named VP of Meridian Global Consulting

William H. Watson has been appointed as Vice President of Meridian Global Consulting, LLC, a Mobile, Alabama-based scalable risk mitigation specialist consultancy.

ST Engineering Singapore's Sole Ranker in Forbes' List

Singapore Technologies Engineering Ltd (ST Engineering) announced that it is the only company in Singapore to make it to Forbes’ list of The World’s Most Innovative Companies.

Offshore Energy

Norman Murray, Petrofac Chairman Quits

Petrofac, the international oil & gas facilities service provider, today announces that Norman Murray, who has been Chairman since May 2011, has resigned from

Ferguson Norge Unveils New NORSOK Workshops

As a result of market demand for NORSOK workspace modules, Ferguson Norge, specialists in the rental of DNV 2.7-1 / EN 12079 certified offshore containers, refrigeration/freezer modules,

Bureau Veritas to Class, Certify FPSOs for Saipem

Bureau Veritas has been awarded a contract by Saipem to provide classification and certification services for the two Kaombo FPSOs for service off Angola. The

 
 
Maritime Security Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3489 sec (3 req/sec)