ABERDEEN-BASED TSMarine (Contracting) has named Roy Franklin as its first non-executive chairman.
The subsea oil and gas service company has achieved major growth since its formation in 2004. Turnover is expected to increase to £110million this year.
TSMarine said yesterday Mr Franklin’s appointment was designed to help drive this growth, positioning it as a key player in the global market.
Mr Franklin is non-executive chairman of Bateman Litwin and Novera Energy. He is also a non-executive director of StatoilHydro, Australian-listed energy company Santos and Keller Group, a specialist ground-engineering company.
He was previously chief executive of Paladin Resources from 1997-2005 and managing director of Clyde Petroleum from 1993-97.
Prior to this, Mr Franklin was with BP for 18 years, latterly heading up BP Exploration’s acquisitions and divestments group.
In 2004, he was made an OBE in recognition of his services to the British oil and gas industry.
Alasdair Cowie, chief executive of TSMarine, said: “Roy has over 35 years’ experience in the industry and his proven ability to identify business-development and growth opportunities in the international marketplace, along with his extensive track record of managing and growing companies, will be invaluable to TSMarine.”
Mr Franklin said: “Since the early 1990s there has been a high demand for subsea well-intervention services. The market is now maturing, meaning that there are requirements for additional tonnage and services, which TSMarine can provide.
“As demand in the subsea market increases, TSMarine has established itself as a leading global player in the subsea rigless-intervention and decommissioning sector. The recent investment in TSMarine by two of Europe’s leading private-equity investors, 3i and ABN Amro, underlines the confidence in TSMarine’s continued growth prospects and I am delighted to be in a position to help guide the global development of such a dynamic company.”
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