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Penspen reports US$48 million worth of new contracts in 2Q22

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World Pipelines,

Global energy services company Penspen has continued its momentum in the second quarter of this year, growing the business with the award of more than 27 new contracts totalling US$48 million across the international energy market.

Penspen reports US$48 million worth of new contracts in 2Q22

While the industry responds to global requirements for energy access amid high commodity prices and the need to ensure availability of energy sources at an affordable price, Penspen’s proven expertise in delivering asset solutions at every project stage is providing energy companies with the technical knowledge required to navigate the supply of energy in line with economic developments and environmental requirements.

Penspen’s experience in supporting projects for energy operators, utilities, and power providers, from initial concepts through to sustaining and enhancing their assets, has helped the company build on a positive operational performance from the start of this year.

“We are dedicated to helping our clients improve access to safe, secure, and clean energy supply by providing them with integral knowledge to effectively manage their assets now and in the future,” said Peter O’Sullivan, Penspen CEO.

“Penspen has decades of technical expertise in supporting global energy companies develop and safeguard their assets – whether in construction such as delivering natural gas for power generation or repurposing existing assets. We have the people and skills to enable our clients to pave the way for the future of the energy industry, as we move towards net zero.”

Neale Carter, Executive Vice President for the Middle East, Africa and Asia Pacific Regions, added: “Our commitment to the Middle East as one of our core markets combined with the strengths of international and local market experience, helps us deliver key benefits to new and existing energy projects. The team is doing an outstanding job by providing deep engineering knowledge and building strong relationships with our clients, and it is encouraging to see the growing demand for our engineering and project management services as a result.”

Key contract highlights:

  • 13+ new contracts in the UK and Europe across the Asset Integrity, Asset Management, and Engineering service lines including a large-scale, low-carbon hydrogen project in the UK.
  • 7+ new contracts in the Middle East across the Project Management Consultancy, Detailed Engineering, and Asset Integrity service lines, including a multi-year framework agreement with a major Middle East national oil company.
  • 7+ new contracts in North America and Latin America across the Asset Management and Asset Integrity service lines, including a high-value pipeline modelling study in Peru.

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