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Andrew Reid News

12 Nov 2013

Well Intervention System to be Reviewed in Aberdeen

The AX-S system, a world first in light well intervention, will be the topic of discussion at a major oil and gas industry event in Aberdeen next week. Following over £120 million of investment and eight years of research and development, the AX-S well intervention system used remote-controlled subsea tools and was the first technology in this field that could be deployed from a construction vessel and operate in depths of up to 10,000ft. The business which developed the system subsequently went into administration on September 1, 2012, with the loss of 40 jobs.

21 Dec 2012

Douglas-Westwood Provides Commercial Assistance

Douglas-Westwood has enjoyed an active autumn providing market and commercial insight to both trade and private equity firms in the process of buying and selling oilfield services, engineering and equipment companies. “With focused and timely provision of our core service offering in market sizing, client consultations, competitive analysis and business plan reviews, our clients have completed a number of transactions in the last quarter. With one of the largest focused teams of commercial and strategy consultants, all our core  global offices have been busy on some flagship deals in the sector that have completed, while they have also been working on a high number that our clients decided to withdraw from” commented Andrew Reid, group CEO.

05 Oct 2011

Unconventional Gas: Strong Growth in Drilling & Production Forecast

Chart: Production Excluding America

Douglas-Westwood has published the first edition of its Unconventional Gas: World Production & Drilling Forecast – a study which details the multi-billion dollar opportunities in this rapidly developing energy sector through to 2020. Andrew Reid, CEO, commented, “Douglas-Westwood forecast strong and continual development in the unconventional gas sector in Europe and Asia-Pacific, following the success of the now well established shale gas  sector in North America.” Reid continued…

15 Jun 2011

Emerging Markets Have Drillers in Deep Water

Speaking at the IADC World Drilling Conference in Copenhagen, Douglas-Westwood’s CEO, Andrew Reid, outlined the impact emerging markets will have on global drilling activity in the coming years. The Arctic is the next frontier in offshore discovery. Reid commented: “More than 400 fields have been discovered to date in the Arctic, providing reserves in excess of 240 billion boe. There is no doubt that further drilling activity in this region could have a major impact on offshore production in the foreseeable future”. Estimates suggest that a further 412 billion boe in undiscovered resources may be lurking beneath the surface, 84% of which are in offshore fields.

18 May 2011

Douglas-Westwood Discusses UK’s Offshore Wind Industry

Speaking at All Energy 2011, Andrew Reid, Douglas-Westwood’s Managing Director, today describes the prospects for the offshore wind market and outlines potential challenges for businesses looking to capitalize on the opportunity. Putting the market in context, Reid commented, “The majority of global offshore wind installations have taken place over the last few years with the UK undoubtedly representing the key market. Growth in the UK market has benefited from a structured leasing process, generous financial incentives and strong political commitment”.

21 Mar 2011

Douglas-Westwood Opens in Singapore

Leading international energy business advisors Douglas-Westwood today opened a new office in Singapore. Located at 1 Fullerton in Singapore’s central business district, the new facility will manage the Douglas-Westwood group’s Advisory and Research business across the Asia Pacific region. Group CEO Andrew Reid said “Establishing in Singapore is core to our continued internationalisation strategy and provides our organisation with a global presence, building on the investment in expanding our European and North American offices in previous years.