add energy Buys Oracle Risk Consultants (Australia)

add energy has completed the acquisition of Oracle Risk Consultants (ORC). Oracle is a leading technical safety & risk consultancy company based in Perth, Australia, servicing the offshore oil and gas and onshore hazardous facility industries.

Oracle is focused on the highly active Australian market, and on projects in the surrounding APAC countries. Thus, the company will further strengthen add energy’s presence, client base and competence in this region.

The Australasia market is generally expected to be an attractive and strongly growing energy region. After the acquisition of ORC, add energy will have approx. 100 specialist staff within reservoir, drilling, well, safety, and technical risk in Australia. Oracle is regarded as a leading consultancy with respect to safety and risk services in the area, and has a very good reputation and a large number of satisfied clients including oil majors, drilling companies and marine construction contractors.

“In the wake of Macondo, the focus on risk management, security and safety case has increased further, and we believe that combining with ORC provides add energy with an even stronger position in this niche, which directly addresses fundamental activity and value drivers in the oil and gas industry. The investment fits well with add energy’s vision and strategic direction as well as its priorities both with respect to geography, competencies and deliveries”, says Stig H. Christiansen, CEO of add energy.

[mappress]

Press Release, May 6, 2013