Circle and Tytan merge operations as part of reorganisation of global business
Two long established (North-east) oil sector companies are merging their operations as part of a reorganisation aimed at creating the world’s most comprehensive abandonment and decommissioning contractor.
Circle Technical Services Ltd. and Tytan Jetting Ltd. Have joined forces as Proserv Abandonment and Decommissioning Ltd, based at Circle’s headquarters in Kintore, near Aberdeen. Tytan’s premises in Ellon, north of Aberdeen, will be retained as a base for research and development, manufacturing and specialist tooling.
The move is the latest step in creating the £40 million Proserv Abandonment and Decommissioning strategic business unit, which has its international headquarters in Kintore. The new unit brings together the combined expertise of seven leading international companies in this sector.
Commenting on the plans, Arve Sem-Henriksen, CEO of the Proserv Group, said:
“When we established the Proserv Abandonment and Decommissioning SBU, we said we were determined to become a major player in the decommissioning market. Less than a year later, it is clear we are well on our way to achieving that objective.”
David Dent, formerly Managing Director of Circle and now Senior Vice President of the Abandonment and Decommissioning SBU, adds:
“The merger of Circle and Tytan to form Proserv Abandonment and Decommissioning Ltd. is the latest step in creating Proserv’s worldwide Abandonment and Decommissioning SBU. We have brought together some of the best international names in the abandonment and decommissioning business.
“As a result we are now the leading supplier in this sector, with a geographical spread from Australia and Malaysia to the North Sea and the Gulf of Mexico. We have more than 170 personnel providing or supporting our engineering skills and have assets strategically placed around the world to tackle international projects.”
The increased workload experienced throughout 2007 and into 2008 has highlighted the need for a larger HQ for Proserv Abandonment and Decommissioning. The search is continuing for a suitable new base in the local area, with increased recruitment targets for 2008.
ends
For further information:
Ken McEwen
The PR Partnership
Tel 01224 248007
DD 01224 216067
Mobile 07768 105449
ken@prpartnership.co.uk
ISSUED ON BEHALF OF THE PROSERV GROUP BY
THE PR PARTNERSHIP (SCOTLAND) LTD
Notes for Editors:
Proserv Abandonment and Decommissioning is a global leader in the removal of mature and/or damaged offshore structures and wells. Proserv provides flexible and reactive solutions from engineering planning to project management and downhole services.
Proserv Abandonment and Decommissioning offers its services across three main areas of expertise:
Well abandonment and decommissioning
- Consulting services and engineering
- Downhole service and contracting
- Project management
Subsea and marine technology
- Cold cutting and coatings removal
- Dredging systems
- Friction stud welding
High and ultra-high pressure pump services
- Specialised HP/UHP water jetting cleaning systems
- Topside UHP cold cutting systems and UHP surface preparation systems
- Flushing units and hot water washers
Proserv Group
Established for more than 30 years, The Proserv group of companies offers wide-ranging yet niche technical expertise to international oil and gas markets.
Focusing our services and products on the evolving challenges of the industry we offer international leadership across five Strategic Business Units:
- Test and Control Systems
- Instrumentation and Calibration
- Oil and Gas Sampling
- Abandonment and Decommissioning
- Speciality Machining
In April 2006 the Proserv Group was bought by the private equity player, Northern Industries, with support from leading Norwegian investors. Last year the company’s turnover was £87.7 million (NOK 950 million), with an expanding workforce of over 560.