Norwich, UK, 24 May 2018: Aquaterra Energy, a leader in global offshore engineering solutions, today announced two pivotal senior management promotions to spearhead its continued growth strategy. George Morrison becomes Group CEO of parent company Aquaterra Energy Group, while James Larnder fills Morrison’s previous role as the new Managing Director of the Aquaterra Energy business.
The news follows last year’s multi-million-dollar investment from EV Private Equity, which initiated a period of rapid growth. In his new position, Morrison will focus on expansion within the oilfield market through strategic acquisitions while Larnder will drive further business growth and product innovation within Aquaterra Energy.
Morrison commented: “We’ve experienced growing demand for our offshore products and services, even when the oil price was stagnating. As the market accelerates, we’re set to expand our offerings and deliver intelligent engineering to a wider audience. Last year’s investment was a key business milestone, enabling us to realise our plans through both strategic acquisitions and organic growth.”
Aquaterra Energy will continue to develop its existing products and services such as its new Aquaterra Express tools and equipment rental service, which offers easy access to an essential range of in-demand, standardised solutions. In addition, Well Start, aimed at the early phases of platform well construction, will be rolled out globally after the excellent response from North Sea operators. The company also plans to expand its modular Sea Swift platform to include new designs to suit a greater breadth and depth of field developments worldwide.
Larnder added: “We believe great engineering is about applying experience to solve individual problems, which is why we’re always evolving new ways to help our customers. Aquaterra Express and Well Start are proving particularly popular and it’s an important focus for us going forward. It’s a prime example of how we can deliver a bespoke blend of tools and experience to meet different project needs.”
The company also plans to continue its expansion geographically, following on from the opening of its offices in Norway earlier this year. In addition, Aquaterra Energy will embark on a major recruitment drive to grow its global operations, sales and engineering teams, enabling it to fuel future innovations.
About Aquaterra Energy
Aquaterra Energy is a provider of equipment and solutions to the global oil and gas industry. The company provides services across the seabed-to-surface value chain, and specialises in riser systems and design analysis, tools and products needed during the first days of a well’s operation, and components for offshore structures, including the Sea Swift platform, which provides a technologically superior and more cost-effective alternative for subsea wells in shallow waters. Many of Aquaterra Energy’s most popular tools and products are available on either a rental or purchase basis.
The company was founded in 2005, and has supported customers in the North Sea, South East Asia, the Caribbean and Australia. Aquaterra Energy is headquartered in Norwich, UK, and has additional offices in the UK, Norway and Egypt.