Proserv grabs brace of North Sea deals

By GARETH MACKIE
Published on 12/02/2013 00:00

OIL and gas technology firm Proserv has picked up two deals worth more than £15 million to install communication and control systems in the North Sea.

The Aberdeenshire company, which last month secured a £133m refinancing with a syndicate of six banks, said Abu Dhabi’s national oil company, Taqa, had chosen it to supply a high-speed data network to control three wells near its Tern platform off Shetland. Westhill-based Proserv will also provide a fibre-optic communications system for wells operated by an undisclosed firm.

Chief executive David Lamont said the company is able to call on a global pool of talent that grew by about 600 to more than 1,600 employees last year, boosted by two acquisitions. The most recent deal was the takeover in December of US rival Total Instrumentation & 
Controls. In April, the firm bought the subsea controls subsidiaries of Swiss-based oilfield services company Weatherford.

Lamont added: “Proserv continues to expand both globally and particularly in the North Sea where our strong and expanding client base is testament to our levels of technology and service. We look forward to working with two leading operators in the region.”

Turnover at Proserv, which operates from 30 sites around the world, rose from £112m in 2011 to around £196m last year.