Energy logistics firm Peterson Offshore Group has hailed its “robust” performance and rising number of employees in Aberdeen last year despite slump in turnover and profits.
Its revenues, which includes vessel charters was down “sharply” on 2014, mainly driven by the reduction in vessel charter day rates with oversupply of vessels, the firm said.
The group’s UK based companies, including Peterson UK, 80:20 Procurement Services, Peterson Freight Management and Glasgow-based technology firm Streamba , contributed 50% of the group’s operating profit, the company said. North Sea revenue was down on 2014 at £207million generating profit before tax of £4.4million, down 32% on the prior year.
Peterson, which has operations in Shetland, Edzell, Yarmouth, Heysham also took over an operation in Kintore when it won a major contract with Abu Dhabi-owned oil and gas major, Taqa.
The Netherlands-owned company said it increased headcount by 5% in the last year and currently employs 400 people in the Aberdeen area.
It added: “We made a number of key appointments to further strengthen our management team and support the next phase of the company’s growth.”
John Bain, Peterson’s finance director said: “It has not been the best of times in the industry and a lot of people have been affected.
“It is a difficult time. But we have been quite fortunate, we have almost been driven by the low oil price. Our model tends to be working collaboratively on innovative solutions.
“Our technology business Streamba is attractive in this market to our clients.
“We find we are busier which is good.”
Erwin Kooij, chief executive of Peterson said the company invested £3.1million in new equipment including cranes, trucks and trailers.
“Peterson has remained profitable in what continues to be a challenging time for the energy sector,” he said.
“Throughout the downturn we continue to invest in the design of unique concepts, technology, equipment, infrastructure, and in our people.”
The firm said it also successfully retained existing contracts with Maersk, BP, ENI, Centrica, and were awarded new contracts with Taqa, Transocean and ONE.
Mr Kooij added: “We are working in close partnership with a number of operators to establish a vessel pool to share resources in the Central & Northern North Sea (CNNS), similar to our long-established and successful model in the Southern North Sea.
“We continue to invest to take our North Sea experience overseas. We opened new offices in Trinidad and Malta to support customers in these regions and we successfully secured a number of international logistics projects. “Significant investment has been made in expanding the geographic footprint of our procurement business 80:20 and we are now operating in Norway, the Netherlands, Houston and Malta.”
Peterson in the UK is part of the privately-owned Den Helder-based company, Peterson Control Union Group, which was established in 1920.
Mr Kooij said: “Our parent company approaches its centenary with a strong balance sheet, this enables us to take a long view, invest for the future and allows our clients to trust in Peterson.”
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