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Penspen acquires DPS Engineering

Media Release: 29 September

Energy services company Penspen has acquired the engineering division of DPS Group. The acquisition, which increases Penspen’s headcount by 10%, took place in mid-September, and supports Penspen’s strategic drive to grow the scope of services that it provides to its clients. This acquisition significantly strengthens Penspen’s oil and gas process facilities engineering capability, and brings access to the FPSO construction market in Asia Pacific.

The purchase includes all DPS engineering staff based in Singapore and Bristol, whose skills and experience will enable Penspen to support its clients throughout the full life cycle of their oil and gas assets.  The DPS Engineering team have an excellent track record in the design of topsides for fixed platforms and FPSOs, as well as for onshore process facilities.

This acquisition comes in the same month that Penspen has rebranded to bring all its existing sub-brands under a new, dynamic Penspen banner. This rebranding coincides with Penspen’s 60th anniversary year, and is aimed at raising the profile of the business, positioning it as one of the world’s leading energy services companies.

Penspen’s Chief Executive Peter O’ Sullivan said:

“This is a very exciting time for Penspen and DPS Engineering. We are confident that our new partnership will appeal to our clients and we look forward to working with them to develop high quality onshore and offshore production facilities for their oil and gas assets.”

Notes to Editors

About Penspen

Penspen has been providing engineering, project management, asset management and integrity services to the oil and gas industry worldwide for over 60 years. Originally founded in the UK in 1954 as Spencer & Partners, the company has now grown to include over 1,000 engineers with major offices in London, Aberdeen, Houston, Abu Dhabi, and Bangkok.

During its history, Penspen has undertaken over 10,000 projects, addressing a wide range of challenges from the economic evaluation of pipelines to complex integrated facilities design. Our heritage is onshore pipeline engineering, in which we have been involved in major pipeline projects around the world. However we have expanded to provide the full scope of engineering services for the life cycle of an asset. We have also developed an extensive range of training services covering engineering design, integrity, and operations and maintenance, for energy assets.

About DPS Engineering:

The engineering division of DPS undertakes the design of integrated oil and gas production facilities for both on and offshore projects. The company supports operators from the Field Development stage, through FEED, Detailed Design, to Construction and Commissioning Supervision. The company has built a particularly strong reputation in the Floating Production Storage and Offloading (FPSO) topsides market, having undertaken the detailed design of around 10 FPSO’s in recent years.

DPS’s main engineering centres in the UK and Singapore will complement Penspen’s existing international office locations.

About the acquisition:

The acquisition relates to all 86 DPS engineering staff, who will continue to operate under the name ‘DPS Engineering’ for the present time.

About the rebrand:

Penspen’s rebrand brings the following sub-brands, which were already part of the Penspen group, under the Penspen name. All of these sub brands are now trading as Penspen. Read more about the rebrand here.

Greystar Corporation:

GreyStar Corporation was founded in 1995 in Houston, Texas to provide asset management, operations and maintenance services in the Gulf of Mexico. The company currently incorporates about 150 employees across North America.

Greystar Europe:

Greystar Europe is Penspen’s European asset management, operations and maintenance division.

Andrew Palmer and Associates:

Andrew Palmer and Associates is the name by which some of Penspen’s offshore clients know it in Aberdeen.

The rebrand was carried out by Thompson Brand Partners.