Sector News

LR Senergy reveals north-east job losses, raft of new deals

August 4, 2015
An Aberdeen-based energy service firm said yesterday it is targeting opportunities in regions “less affected” by the low oil price after revealing 17 north-east job losses.
LR Senergy said it was forced to cut costs after many of the projects it expected to win were postponed of abandoned amid the energy sector downturn.
The firm laid off 37 members of its global workforce in the first quarter of the year, 17 of whom were based in the north-east, while 10 to 15 employees were transferred to operations outside the UK.
But in better news, the company yesterday said it had been awarded of 10 contracts worth £4.5million.
Most of the new deals commit Senergy to providing a range of services for clients in the Middle East and the Asia Pacific region.
Three of the recent wins cover engineering and geomechanical work in the Middle East and Caspian Sea for the Abu Dhabi Marine Operating Company, Kuwait Energy Company and Dragon Oil.
Senergy − part of global engineering, technical and business services organisation Lloyds Register Group − is also delivering wells project management for Dana Gas on its Middle East Zora gas field development project, as well as supporting subsurface projects in Kuwait.
Other clients include Gas Natural Fenosa of Spain, VietGazProm of Vietnam and M3nergy, which is headquartered in Malaysia.
Steve Gilbert, vice president of operations with LR Senergy, said the North Sea’s struggles, brought on by low oil prices and high operating costs, had convinced the company to cast a wider net in search of work.
But the company’s expansionist strategy does not mean it will overlook the North Sea completely.
Senergy, which employs more than 600 across its bases in the UK, the US, the Middle East and Asia Pacific, has been contracted by Chrysaor and JX Nippon work on exploration well projects west of Shetland.
Furthermore, it is continuing to work closely with HSE on the assessment of UK onshore gas storage sites after its contract was renewed for a second time.
Mr Gilbert added: “We continue to have a significant presence in the North Sea and are working to expand into other areas which can be serviced from our hubs in Kuala Lumpur, Dubai and Abu Dhabi.
“While we look forward to consolidating our geographical reach, we remain fully committed to the energy industry in the North Sea and it is very pleasing to have secured two significant projects west of Shetland.”
By Mark Lammey

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