Exploration research and analytics firm Hannon Westwood has acquired Novas Consulting for an undisclosed sum.
Following the investment by energy specialist private equity company Energy Ventures in January 2015, Hannon Westwood has been looking to expand on its energy business intelligence and consulting offering through a combination of acquisitions and organic growth.
Novas will add new diversity, bringing a team of globally experienced geoscientists, engineers and other specialists to join the Scottish research company.
Hannon Westwood Aberdeen chief executive Ian Norbury, said: “The addition of Novas brings an international dimension and capability to the Hannon Westwood team and we are excited by the potential to offer our clients a broader range of expertise and international solutions.
“With the current market conditions it is more critical than ever to perform detailed due diligence and commercial assessments of target investments, and in Novas we have acquired a team with proven credentials and expertise in the global oil and gas market.”
Novas managing director Philip Clarke, said: “In addition to our competencies in conventional E&P, our proprietary studies on the unconventional markets in the UK and Europe offer a depth of insight which is highly complementary to the Hannon Westwood report offerings.”
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