BP PLC has awarded Add Power Group AS a 10-year contract for nicely help providers together with emergency management.
“Below the Grasp Companies Settlement, Add Power will present nicely management engineering modeling providers”, the Stavanger, Norway-based firm mentioned in a press launch this week.
It didn’t disclose the worth of the contract, which will probably be executed by way of Add Power’s groups in Norway and the USA.
“Our organizations have an extended – time period enterprise relationship and we sit up for collaborating once more over the following decade to always improve preventive nicely management measures”, Morten Haug Emilsen, Add Power supervisor for nicely management, mentioned in a press release.
“With a observe document of roughly 85 reside nicely incidents evaluated and mitigated, and having delivered greater than 1,800 blowout contingency research, we think about ourselves to be one in every of world’s main firms throughout the area of nicely management”, Emilsen added.
Add Power is presently engaged on a way to standardize blowout evaluation.
On July 20 it mentioned it has gained funding to give you “a way to standardize blowout occasion consequence evaluation to help constant threat measurement of undesirable nicely management occasions”. The $354,160 grant from the USA government-backed Ocean Power Security Institute is a part of an award to enhance security requirements within the oil and fuel trade.
“Standardization of such methodology will permit the trade to higher put together for, stop and reply to nicely management occasions”, Ray Tommy Oskarsen, Add Power senior vice-president for nicely management and blowout help, mentioned in a press release.
Add Power introduced earlier it’s combining providers with power consultancy and software program agency AGR, a fellow firm underneath the ABL Group ASA.
” Multi-disciplinary power and software program specialists AGR and Add Power are combining their knowledgeable providers in drilling, wells, and reservoirs, and power transition applied sciences, CCUS [carbon capture, utilization and storage], and geothermal, underneath the AGR model”, Add Power mentioned in a media launch July 4.
That leads to a partnership with over 70 years of mixed trade expertise, 9 places of work throughout the globe and greater than 400 specialists, it mentioned.
“The elevated international footprint will allow AGR to higher serve its current purchasers whereas additionally pursuing new alternatives in rising markets”, the announcement mentioned.
“This transfer follows the current acquisition of AGR and Add Power by international power, marine and engineering consultants ABL Group ASA. Each strategic acquisitions have bolstered the group’s complete suite of providers to drive optimization and efficiencies throughout oil & fuel operations and the broader worth chain”, the announcement famous.
ABL introduced the acquisition of Add Power July 11, 2022, saying the transfer “broadens ABL Group’s service providing inside renewables, enhances providers within the opex part and good points entry into digital optimization, carbon storage and power effectivity providers which can be essential to the power transition”.
“ABL Group has historically been extra uncovered to the capex-driven area improvement a part of offshore power industries. We’re by way of this acquisition gaining further publicity to the opex-driven aspect of offshore oil and fuel and the ability industries, together with decarbonization and life extension work”, ABL chief govt Reuben Segal mentioned in a press release. “This displays our dedication to transitioning all areas of power and oceans to net-zero.”
The announcement didn’t disclose the worth of the transaction, a 100% shares buy that was accomplished July 2022, in keeping with ABL’s quarterly report printed November 3, 2022.
AGR in the meantime was acquired by ABL this yr for $25.1 million in money at present charges.
“The acquisition bolsters ABL Group’s providing inside nicely and reservoir consultancy, enhances the group’s place supporting operators’ digitalization and decarbonization plans, and expands its opex-driven offshore power publicity”, ABL mentioned in a press launch April 18, 2023.
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