OFFSHORE equipment firm OEG Offshore has bought two Western Australian oilfield services providers, bolstering its Australian presence and giving it new services to offer.
In an announcement, OEG said the acquisition of Oilfield & Resource Rentals (ORR) and Offshore Cryogenic Services (OCS) gave it new offerings in the offshore aviation services and cryogenic tanks markets.
OEG Offshore chief executive John Heiton said ORR and OCS’s experience and dedicated teams were what attracted the company to the acquisition.
“(We) in particular noted that all of the technical staff are accredited with the National Australian Testing Association to provide the highest level of competence to the oil and gas industry, which allows us to offer an excellent service to our Australian and overseas customer base,” he said.
Established in 2012, ORR and OCS have operations in Perth, Karratha, Broome and Darwin providing a range of products and services – including DNV 2.7-1 offshore equipment for sale and rental alongside certified inspections of heli-decks, helifuel tanks, ISO tanks and offshore chemical tanks.
ORR managing director Patrick Hanna said he was excited about being part of a bigger company with a broader revenue base.
“Over the last 15 years the offshore oil and gas industry has grown from zero investment in DNV rental equipment to one worth $500 million on the ground in Australia,” he said.
“I expect this to expand even further as Perth becomes a strategic hub for supplying services to the North West Shelf and Browse basin.”
OEG Offshore’s range of DNV 2.7-1 transportable offshore chemical and heli-tanks, containers, baskets, waste units and A60 cabins are available across Australasia. They offer the same varied range of equipment for sale as well as rental, alongside a bespoke design service.
Other recent Australian acquisitions undertaken by OEG Offshore include OPC Australia and Fuel Installation Services, trading as Tank and Pump Services, enabling the OEG group to provide a truly Australia wide offering with depots in Perth, Darwin, Melbourne and Barry Beach in Gippsland.
The company is currently employing a growth strategy funded by investment firm Kohlberg Kravis Roberts – associated companies of which are its major shareholders.
The group was expanding across Europe, Africa, Caspian, Asia Pacific, North America as well as Australia, it said in an Announcement.