Aberdeen energy service company PSN said last night a report that two rivals were bidding for the business was only speculation.
An Australian newspaper had claimed that Granite City firm Wood Group and Australia’s WorleyParsons were pursuing PSN for a price of about £500million.
A spokeswoman for PSN said: “We are not in a position to comment on speculation.
“We are a private-equity-backed business and it is a fact at some point we will look for an appropriate exit strategy; we’ve always been open about this.
“Over the years, we have had several interested parties approaching us, and have even considered a stock market flotation, but right now there is no pressure on timing (for an exit).
“We will choose, in due course, what we consider to be the best option for the future of the business, our customers and our people.”
A Wood Group spokesman said he could not comment on rumours or speculation.
There has been talk about many possible deals in the oil service sector recently.
Wood Group said on Tuesday it was not in takeover talks following speculation it was a target for US oilfield service giant Halliburton.
It had been claimed that the American group was on the verge of bidding £3.1billion, or 595p a share, for the Aberdeen business.
PSN was formed in 2006 when management of KBR Production Services took ownership of the operation.
The unit was sold to its bosses by Halliburton in a deal worth more than £150million.
PSN – led by managing director Bob Keiller – has expanded to now employ 8,500 across 28 countries. Earlier this month, it beat Petrofac and Wood Group to win a £300million-plus contract with Shell UK.
PSN is to provide integrated services to eight Shell assets – seven platforms and one floating production vessel – in the central and northern North Sea.
The contract is held by the Sigma 3 joint venture, which involves PSN, Wood Group and AMEC, but it emerged in February that Shell was re-tendering Sigma 3 work in an attempt to cut costs.
More than 1,000 people are employed by Sigma 3 and they are expected to transfer across to PSN when the contract changes hands in May.
PSN said the Shell deal was one of the largest it had been awarded in the UK to date.
It was the second big North Sea contract PSN had landed from Shell in less than four months. It was announced in July that the Aberdeen company was to carry out a near-£200million contract for decommissioning work in the Brent field.
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