Aberdeen-based offshore group Three60 Energy has acquired well and pipeline operator and well management specialist, Fraser Well Management.
Three60 says the deal for the Norfolk-headquartered company will hugely strengthen its position as a strategic services partner to the oil industry as it will be able to work as an outsourced installation officer, a pipeline operator and as a well operator across the asset life cycle
All of Fraser's workers will transfer to Three60 and its offices in Aberdeen, Great Yarmouth and Rotterdam will stay in operation.
Walter Thain, group CEO at THREE60 Energy, said: “The capabilities and expertise that Fraser Well Management has accumulated will greatly benefit the integrated solutions we offer our customers throughout the asset life cycle. We are immensely proud to have our new team members join THREE60 Energy, as we can continue to provide better energy together.
“As we continue to transition into sustainable and renewable energies alongside traditional means of energy production and storage, there has never been a more pertinent time to invest in the future of our business and our place in the energy supply chain.”
Lasse Hermansson, managing director at THREE60 Energy Norway, added: “The breadth of transferrable knowledge across THREE60 Energy is crucial for capitalising on the synergies across disciplines, and the addition of Fraser Well Management’s skills and people will greatly add to our expertise.
“This not only enhances our UK capabilities, but provides additional competencies and services to our Norwegian and global business. We are extremely excited about the acquisition and see a great cultural and collaborative fit with the excellent team at Fraser Well Management.”
Nick Ford, managing director at Fraser Well Management said: “We have watched the rapid and sustained growth of THREE60 Energy alongside our own development and can see the synergies that the integration of Fraser Well Management’s service offerings combined with that currently provided by THREE60 Energy will provide our clients better solutions to their energy needs.
"This deal is a natural progression for our services and people, as both can continue to grow and expand under THREE60 Energy.
“As late life, CCUS and decommissioning play an ever more significant role, we are proud to be part of THREE60 Energy Group as the company delivers in these key areas.”
Three60 also has offices in Bergen, Stavanger, Oslo, Kuala Lumpur, Singapore, Jakarta, Taipei and Brisbane.
