Proserv books £4million loss but hails “considerable financial resources”
Oilfield services group Proserv measured the effects of the oil price downturn as it revealed a slump in revenues and profits in its most recent financial accounts.
Oilfield services group Proserv measured the effects of the oil price downturn as it revealed a slump in revenues and profits in its most recent financial accounts.
Energy service firm Proserv has teamed up with a UK-based equipment company to offer a souped-up oil-spill prevention package in the Middle East. Proserv, whose corporate headquarters are in Westhill, Aberdeenshire, will offer goods made by Klaw Products across the region while also delivering in-country technical support. Klaw, based in Wiltshire, supplies breakaway couplings and emergency release systems for the safe transfer of hazardous and non-hazardous materials.
A senior oil boss who claimed he had been unfairly dismissed has been awarded nearly £80,000 in compensation.
With more than 250 subsea wells and over 500 platform wells to be decommissioned in the UKCS by 2022, all must be permanently abandoned by setting the required barriers (plugs), severing all casings and conductor 10ft below mudline.
The burgeoning decommissioning sector will bring technical challenges and opportunities that the North Sea supply chain are well placed to exploit.
Energy services company Proserv has been awarded a multi-million dollar contract from Apache Corporation for work on the UK Continental Shelf.
Energy services company Proserv has been awarded a multi-million pound contract with Statoil for the provision of production control equipment in Norway.
Oil and gas investor Riverstone Energy Limited (REL) said yesterday it was profiting from industry distress and looking forward to taking advantage of emerging opportunities driven by lower commodity prices.
Aberdeen marine technology firm Nautronix had fallen £1million into the red ahead of it being bought out by Proserv, accounts posted at Companies House have shown.
New figures showing a big jump in annual turnover capped an eventful week for north-east energy service firm Proserv.
The industry's built-in desire to deliver over-engineered solutions has to end if the North Sea is to enjoy a long and profitable future, a leading industry figure has claimed.
Proserv’s acquisition of Nautronix signals a vote of confidence in the subsea sector, according to energy sector corporate finance advisors Simmons & Company International.
Energy services company Proserv has acquired Aberdeen-based subsea digital accoustic specialist Nautronix for an undisclosed sum.
Proserv and hazardous environment specialist JCE Group are to join forces in the Middle East and Africa. The deal between the firms will allow Proserv to supply JCE’s products and services to the region, as well as providing engineering support Andy Anderson, Proserv’s president for the Middle East and Africa, said the firms had already been working on projects together for at least two years.
The UK energy sector’s attempts to pull itself out of the mire are being hindered by a lack of collaboration, urgency, and boldness, industry leaders said at Europe’s largest subsea event yesterday.