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

People & Company News

World’s 1st LNG Hybrid Barge Christened "Hummel"

The world’s first LNG hybrid barge of Becker Marine Systems was christened with the name "Hummel" on October 18, 2014, at Grasbrook Quay in HafenCity Hamburg.

Shadrin is D.G. of Gazprom Investholding

On October 13 the Gazprom leadership acceded to Alisher Usmanov's request for releasing him from his position as Director General of Gazprom Investholding. At the meeting Alexey Miller,

A2SEA Signs for Dudgeon

Dudgeon Offshore Wind Limited has awarded the Charter for WTG transport and installation to A2SEA A/S. A2SEA shall provide the jack-up vessel Sea Installer

Finance

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

No Merger of Yara & CF Industrie

Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. "This has been a constructive process,

Hurricane Ana Heads towards Hawaii

Tropical Storm Ana strengthened into a hurricane on Friday and was moving in the direction of Hawaii but was not expected to make a direct hit on the islands, the U.

Energy

Saudi Oil Pipeline Set Alight

A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said.

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Hurricane Gonzalo Knocks out Bermuda Power

Power was knocked out to 80 percent of Bermuda's electricity grid due to Hurricane Gonzalo, the island's only power company, Bermuda Electric Light Co., said on Friday evening.

News

Saudi Oil Pipeline Set Alight

A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said.

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Long Beach Port Adds ‘Free Time’ for Cargo to Ease Congestion

The Port of Long Beach will add an extra three days to the time that overseas import containers can remain on the docks without charge, in order to grant some

Consulting

COWI NA Merges its Marine Companies

Ben C. Gerwick, Inc. and Ocean and Coastal Consultants, Inc. merger creates new player in the North American marine engineering market COWI North America, Inc.

EVPs of Petroleum Geo-Services Swap Responsibilities

From November 20th Magne Reiersgard, Executive Vice President (EVP) Operations, and Per Arild Reksnes, EVP Marine Contract of Petroleum Geo-Services, will change roles, with Mr.

Antwerp Port & Shanghai Sign MoU

The port of Shanghai, the largest in the world, and the port of Antwerp, the second-largest in Europe, are to collaborate more closely. A Memorandum of Understanding

Offshore Energy

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering

A2SEA Signs for Dudgeon

Dudgeon Offshore Wind Limited has awarded the Charter for WTG transport and installation to A2SEA A/S. A2SEA shall provide the jack-up vessel Sea Installer

GeoSea acquires HOCHTIEF Offshore Assets

DEME’s marine engineering specialist GeoSea acquires offshore assets of HOCHTIEF, one of Germany’s leading international construction groups. HOCHTIEF is selling

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.2354 sec (4 req/sec)