Penspen Secures $25MM Worth Of Contracts In 1Q 2022

Oil & Gas

Energy services provider Penspen has bagged contracts worth over $25 million during the first quarter of 2022, building on strong results in the year prior.

Strong demand in the market for Penspen’s energy engineering services and its extensive experience are driving this strong sales performance. Increased investment in energy infrastructure as a result of higher energy prices, as well as growing investment in planning for the energy transition to achieve net-zero by 2050, means that many operators and utilities are turning to Penspen to help them improve access to safe and sustainable energy for the communities that they serve.

“We have decades of experience which is highly relevant to the challenges that our clients are currently facing as they switch to delivering lower-carbon energy for their customers, whether it’s building new infrastructure to deliver natural gas for power generation or repurposing existing pipeline networks for use with hydrogen,” said Peter O’Sullivan, Penspen CEO. “These sales results are a reflection of the trusted relationships we have built with many long-term clients over the years as we help them address these challenges.”

“It has been a challenging marketplace for everyone, but the team has done an outstanding job in continuing to grow the company, thus enabling us to continue delivering value to our clients,” added Neale Carter, Executive Vice President for the Middle East, Africa, and the Asia Pacific Regions. “The Middle East is a key market for us and the majority of the new contracts in the region are medium and long-term, demonstrating the faith our clients and partners have in us. I have no doubt, regardless of where our teams operate, they will deliver the high-quality services that Penspen has historically produced.”

As a result of these sales wins, Penspen’s energy consultancy services will deliver value for clients across the globe, including a major Middle East NOC, operators and utilities in the UK, Europe, US, and Latin America, to several multi-national organizations:

• 15+ new contracts in the UK and Europe across the Asset Integrity, Asset Management, and Engineering & Project Management service lines

• 8+ new contracts in the Middle East across the Project Management Consultancy, Engineering, and Asset Integrity service lines

• 2 new Asset Integrity multi-year contracts in Latin America

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