Engineering firm Kent has made a strategic move by acquiring Exceed Holdings, consolidating its position in the offshore services market. offshore serviceswith an emphasis on decommissioning, well management and subsoil management.
Based in Dubai, Kent signed a binding agreement to incorporate Exceed, a Scottish firm with operations in more than 40 countries. This acquisition responds to the company’s objective of becoming an integral supplier throughout the life cycle of energy assets, from their operation to their retirement.
[post_relacionado]Exceed, based in Aberdeen, brings a track record of more than two decades in executing complex offshore well projects, with more than 70 wells drilled and 150 wells decommissioned. It is one of only three companies licensed as a well operator in the UK, which positions it as a key asset in the energy transition.
Kent boosts its expansion in offshore decommissioning
The deal positions Kent for a market that is projected to double in value over the next decade, with annual offshore decommissioning spending estimated to grow from $8 billion to $16 billion by 2035.
The synergy between Exceed’s technical expertise and Kent’s global infrastructure will allow us to meet this growing demand with cost-effective and secure solutions.
The acquisition also aligns with key decarbonization initiatives. decarbonization. Exceed is already working on the reuse of reservoirs for carbon capture projects. carbon capture projects y hydrogen storage projects, complementing Kent’sprojects, complementing Kent’s capabilities in clean technologies.
Strategic integration
According to John Gilley, CEO of Kent, this alliance will enable the delivery of solutions at every stage of the asset lifecycle, including value-added consulting, low-carbon engineering and planned retirement of offshore infrastructure.
Exceed’s technical culture will be maintained, while leveraging Kent’s financial and commercial resources to scale global operations.
For the acquiring company, this is the second recent acquisition, after entering the data center market with the purchase of Sudlows Consulting.
Source and photo:Kent