Penspen reports 2H23 results
Published by Isabel Stagg,
Editorial Assistant
World Pipelines,
Penspen, a leading global energy consultancy dedicated to improving access to sustainable energy for communities worldwide, has reported its 2H23 results.
The company’s total value of new contracts awarded was US$104 million – a 28% increase from 1H23 and a positive conclusion of the fiscal year.
“Our dual focus on maximising the life of existing infrastructure to ensure the security of energy supply today, whilst also helping to build new infrastructure to deliver the sustainable energy of the future means we are well positioned to support our clients as they navigate the energy transition.”
In Summary:
- 34 new contracts with a total value of US$90.8 million from our Middle East & Africa and Kingdom of Saudi Arabia Regions.
- 97 new contracts with a total value of US$11.1 million from the European Regions.
- 32 new contracts with a total value of US$2.1 million from the North American and Latin American Regions.
“As we close the chapter on 2023, we are pleased to announce that we have had another strong year of sales across all our regions, with 30% year-on-year sales growth. Our team’s dedication to providing high-quality engineering services and innovative solutions to meet our clients’ requirements has not only fuelled our growth but has also enabled our clients to get the most from their assets in a very dynamic energy marketplace,” said Peter O’Sullivan, Penspen CEO.
“Our dual focus on maximising the life of existing infrastructure to ensure the security of energy supply today, whilst also helping to build new infrastructure to deliver the sustainable energy of the future means we are well positioned to support our clients as they navigate the energy transition.”
Neale Carter, Executive Vice President for the Middle East, Africa and Asia Pacific Regions, added: “The MEA and KSA Regional teams have delivered continued strong commercial and operational execution, resulting in another half of outstanding sales performance. In 2024, we reaffirm our commitment to helping our clients develop new energy assets, improve the productivity and efficiency of existing assets, and ensure maximum returns on their investments.”
Read the article online at: https://www.worldpipelines.com/business-news/23012024/penspen-reports-2h23-results/
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