Petrex Developments offer due diligence support

Source: Petrex

Petrex Developments, an Aberdeen-based subsea engineering and project management specialist, is working on behalf of an undisclosed global oil giant and new client providing due diligence for a potential merger and acquisition in the UKCS market.

Petrex Developments, an Aberdeen-based subsea engineering and project management specialist, is working on behalf of an undisclosed global oil and gas giant and new client providing due diligence for a potential merger and acquisition in the UKCS market.

With the increase in oil and gas assets currently on the market Petrex has seen several operators looking to gain acreage whether it is to acquire existing discoveries or to farm into exploration prospects. Some operators are reportedly talking about the sale of certain assets whilst potentially retaining the decommissioning liability. This could turn out to be one of the greatest financial incentives offered in recent years.

Petrex Developments is presently assisting the undisclosed international operator to challenge costs and create further value to their business.

“It’s great to welcome new clients, especially at this time. We look forward to supporting and maximising their future opportunities” said Ian Pithie, speaking on behalf of Petrex Developments.

Petrex Developments is an independent Subsea Engineering and Project Management Specialist headquartered in Aberdeen. Capabilities range from early conceptual design, FEED and associated economic models, tender and specification generation, evaluation and recommendation, through to package or complete project management for onshore, site and offshore phases of projects through to completion and support.  Also assistance with operations/integrity management, geotechnical and dive expertise whilst our Visualisation Service can offer 3D Animations/3D Modelling and CAD Drafting.

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