Author Archives: Maryam Pasha

  1. Penspen Reports $104 Million Worth of New Contracts Awarded in Second Half of 2023

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    Penspen today announces a strong finish to the fiscal year with $104 million awarded in new contracts during the second half of 2023 – – a 28% increase from the first half of 2023.

    Contract Highlights:

    • 34 new contracts with a total value of $90.8 million from our Middle East & Africa and Kingdom of Saudi Arabia Regions, including project management supervision and consultancy services for major national oil companies, asset integrity consultancy services for onshore and offshore energy assets, and engineering design consultancy services for new and existing onshore and offshore energy assets.
    • 97 new contracts with a total value of $11.1 million from the European Regions, including engineering design services for hydrogen and carbon capture infrastructure, gas network maintenance services, gas transmission pipeline integrity frameworks, and fuel management engineering services.
    • 32 new contracts with a total value of $2.1 million from the North American and Latin American Regions, including asset integrity inspection services, risk-based inspection services, corrosion management services, operations management for brownfield assets, and electrical interference studies.

    “As we close the chapter on 2023, we are pleased to announce we have had another strong year of sales across all our regions, with 30% year-on-year sales growth. Our team’s dedication to providing high-quality engineering services and innovative solutions to meet our clients’ requirements has not only fuelled our growth but has also enabled our clients to get the most from their assets in a very dynamic energy marketplace,” said Peter O’Sullivan, Penspen CEO.

    “Our dual focus on maximising the life of existing infrastructure to ensure the security of energy supply today, whilst also helping to build new infrastructure to deliver the sustainable energy of the future means we are well positioned to support our clients as they navigate the energy transition.”

    Neale Carter, Executive Vice President for the Middle East, Africa and Asia Pacific Regions, added: “The MEA and KSA Region teams have delivered continued strong commercial and operational execution during the second half of the year, resulting in another period of outstanding sales performance. Our clients know that they can trust our strong engineering capabilities and our proven ability to deliver best-in-class quality to demanding timelines. In 2024, we reaffirm our commitment to helping our clients develop new energy assets, improve the productivity and efficiency of existing assets, and ensure maximum returns on their investments.”

    For media enquiries, please contact:

    • Roxie Nilsson, Global Director of Marketing & Communications, Penspen: r.nilsson@penspen.com

     

  2. Penspen Reports $65 Million Worth of New Contracts Secured in Second Half of 2022

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    Company supports global access to cleaner energy and enhances infrastructure for energy companies

    Penspen, a leading global energy consultancy dedicated to improving access to cleaner energy for worldwide communities, today reported new contract sales of $65 million during the second half of 2022. 

    Penspen’s sales performance for H2 2022 maintains the company’s strong growth from last year with a positive outlook for the year ahead. 

    With worldwide demand for accessible and affordable energy increasing amid high commodity prices, Penspen’s expertise continues to make a positive impact across the rapidly changing global energy industry. 

     The company’s latest financial results demonstrate that its experience in designing, maintaining, and optimising the infrastructure of energy operators, utilities, and power providers, from initial concept through to sustainable operations, is in strong demand. 

    “Our skilled teams have delivered a very strong performance across all of our regions and service lines and have helped our clients meet the challenges they face in a dynamic market.” said Peter O’Sullivan, Penspen CEO. 

    “The outlook for 2023 is positive. We are growing our team in order to respond to our clients’ increasing requests to help them invest in the essential infrastructure required to respond to the challenges of both high commodity demand and the acceleration of the energy transition.” 

    Neale Carter, Executive Vice President for the Middle East, Africa and Asia Pacific Regions, added: “The MEA team is further solidifying its position as a trusted advisor for deep engineering knowledge on energy projects, delivering real value and consistent success across engineering and project management services in the region. This has resulted in several new framework agreements with major national oil companies.” 

    Key Contract Highlights: 

    • 77 new contracts in the UK and Europe across the Asset Integrity, Asset Management, and Engineering service lines including a hydrogen assessment, gap analysis and blending facility design for a national gas system in Europe 
    • 28 new contracts in the Middle East across the Project Management Consultancy, Detailed Engineering, and Asset Integrity service lines, including double-digit project management and consultancy for onshore services, engineering services for a CO2 recovery and injection project, risk-based asset integrity implementation for refining, and several multi-year framework agreements across all services for a major national oil company 
    • 27 new contracts in North America and Latin America across the Asset Management and Asset Integrity service lines, including structural analysis services for inspection of transportation infrastructure in Colombia, and multi-year asset management agreements for one of the largest exploration and production companies in the US

    For media enquiries:

    • Roxie Nilsson, Global Director of Marketing & Communications, Penspen: r.nilsson@penspen.com
    • Andy Groundwater, Fifth Ring: andy.groundwater@fifthring.com