News & Events

03-10-2016

International energy logistics group delivers robust performance in challenging market

Peterson has remained profitable in what continues to be a challenging time for the energy sector. We are committed to supporting our clients to deliver safe, innovative, cost effective solutions that enable collaboration and drive efficiency in the supply chain. Throughout the downturn we continue to invest in the design of unique concepts, technology, equipment, infrastructure, and in our people. In 2015 we committed £3.1m, including new cranes, trucks, trailers and SPMTs (self-propelled modular transporters).

Leading international energy logistics company, Peterson Offshore Group (Peterson), today announced its consolidated results for the 12 months ending 31st December 2015.

Commenting on the Groups performance Erwin Kooij, CEO – Offshore Group said: "Peterson has remained profitable in what continues to be a challenging time for the energy sector. We are committed to supporting our clients to deliver safe, innovative, cost effective solutions that enable collaboration and drive efficiency in the supply chain. Throughout the downturn we continue to invest in the design of unique concepts, technology, equipment, infrastructure, and in our people. In 2015 we committed £3.1m, including new cranes, trucks, trailers and SPMTs (self-propelled modular transporters)."

The Groups UK based companies, including Peterson UK Ltd, 80:20 Procurement Services, Peterson Freight Management and Streamba Ltd, contributed 50% of the Groups operating profit, with Peterson investing in new international opportunities. North Sea revenu was down on 2014 at £207m generating profit before tax of £4.4m, down 32% on 2014.

Erwin continued: We successfully retained existing contracts with Maersk, BP, ENI, Centrica, and were awarded new contracts with TAQA, Transocean and ONE. We are working in close partnership with a number of operators to establish a vessel pool to share resources in the Central & Northern North Sea (CNNS), similar to our long-established and successful model in the Southern North Sea. Our decommissioning facility in Great Yarmouth, which we opened in 2015, is now fully operational, and secured its first substantial decommissioning contract. We were awarded two long term contracts to provide logistics support for Statoil’s Dudgeon offshore wind farm; and we are firmly into the operational phase with our nuclear industry business.

We continue to invest to take our North Sea experience overseas. We opened new offices in Trinidad and Malta to support customers in these regions and we successfully secured a number of international logistics projects. Significant investment has been made in expanding the geographic footprint of our procurement business 80:20 and we are now operating in Norway, the Netherlands, Houston and Malta.

Our ongoing commitment to technology is focused on driving efficiency and generating maximum value across our clients’ logistics operations. We made significant investment into broadening our suite of digital applications and technology. With a continued focus on asset utilisation across the industry, our new eHire application provides simple and effective visibility and control over all third party rentals, whether regular or high cost rental; and our receipt, store and pack tools support bar coding and Warehouse Management.

Sitting above all our applications is our unique proprietary technology VOR that seamlessly connects people directly and in real time to inventory and assets throughout the supply chain. VOR provides transparency, from ordering a piece of equipment quickly, to seeing what space is available on a vessel to ship it offshore, enabling better, data driven decisions.

Our people are fundamental to our ability to deliver operational excellence and we increased our headcount by 5% in the last year and currently employ 400 people in the Aberdeen area. We made a number of key appointments to further strengthen our management team and support the next phase of the company's growth. Our parent company approaches its centenary with a strong balance sheet, this enables us to take a long view, invest for the future and allows our clients to trust in Peterson.

Trust well placed