THREE60 Energy Group | December 21st, 2018
THREE60 Energy has acquired Aberdeen-based North Sea Construction and Commissioning (NSCC) for an undisclosed sum. This marks the fourth company to be added to the fast-developing energy services group in twelve months.
Established in 2016, NSCC specialises in the provision of construction, mechanical completion and commissioning support services for the offshore and onshore oil and gas industry, whose focus is on maximising safe and efficient delivery in both the North Sea and overseas. The company has established a track record covering all aspects of topsides infrastructure construction and campaign delivery covering heavy-lift, accommodation flotels, rig mobilisation and walk-to-work vessel supported campaigns.
The acquisition of NSCC represents the fourth constituent company of the THREE60 Group following the investments in LEAP Energy, Step Change Engineering and Ridge AS. The headquarters of NSCC will remain in Aberdeen and will be combined with THREE60’s Step Change Engineering during 2019. The existing management team will continue to lead business operations and will benefit from the support of the THREE60 leadership team.
Walter Thain, Group CEO said, “The acquisition of NSCC represents a key service addition to THREE60 as we continue to build our portfolio of excellent companies who, together, will provide customers with a complete suite of services across the whole asset life cycle. This addition to our overall service capability is extremely timely as we now establish an integrated engineering and construction offering with the combination of our existing expertise in Step Change Engineering. We believe we can grow this business through providing value-adding, efficient and customer focussed engineering and construction capability at a Tier 2 level.”
Iain Macdonald, Managing Director of NSCC, said: “We are delighted to join the THREE60 Group and look forward to leveraging and integrating our capability both locally and exporting our services across the other THREE60 geographies. The wider integrated offering, across the THREE60, will enable us to provide an enhanced service in field development, and lean EPC delivery.”
About THREE60 Energy
THREE60 is a fast-developing energy services group whose aim is to deliver value adding services for owners, developers and operators of energy assets. Offering lean, fit for purpose, technology driven solutions, in subsurface, wells and facilities from exploration through to decommissioning.
Its strategy is to build a portfolio of oilfield services operating across the entire asset life cycle within the oil and gas industry both onshore and offshore. THREE60 has already acquired capability across different geographies in Reservoir Engineering (Leap Energy), Well Engineering (Ridge), Facilities Engineering (Step Change Engineering) and is in active discussions with a number of companies interested in participating in the group.
About Step Change Engineering
Step Change Engineering was established in 2014 and provides design, engineering and project management services in relation to brownfield projects and the repair and minor modification of topside Oil and Gas facilities in the UKCS. It currently has a team of approximately 50 experts based in Aberdeen, covering all engineering and project management disciplines in the sector.
About LEAP Energy
LEAP Energy was founded in 2008, with operated offices in Malaysia and Australia. The core activity is to provide subsurface technical consulting and software development services globally to Independent Oil Companies, National Oil Companies and Government bodies. Through a team of 100 technical staff, the company offers expertise in difficult hydrocarbon recovery, fractured reservoirs, mature field production optimization, enhanced oil recovery and unconventional resources such as coal bed methane. Besides a core competence in reservoir studies, LEAP Energy is also active with Advisory Services, supporting M&A activities, asset and corporate valuation, and production optimisation and flow assurance. The company has established a capability in operational geoscience, seismic project management and technical HSE, supporting both oil & gas and renewables projects.
Ridge was established in 2011 and specialises in the provision of engineering and consultancy services in the subsurface, drilling & wells, subsea and facilities disciplines mainly in the Norwegian North Sea. The company has established a sound track record with its client base including around 20 major oilfield Operators, with projects delivered by a team of more than 110 specialist engineers. The business completed the acquisition of Ocean Maxwell in December 2017, adding engineers with subsea, subsurface and facilities capabilities and enabling Ridge to provide a wider spectrum of services to clients in Norway, Denmark, UK and Singapore.