{"id":29964,"date":"2022-07-11T08:17:56","date_gmt":"2022-07-11T07:17:56","guid":{"rendered":"https:\/\/abl-group.com\/abl\/?p=29964"},"modified":"2022-07-13T08:32:06","modified_gmt":"2022-07-13T07:32:06","slug":"abl-group-to-acquire-add-energy","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/abl-group-to-acquire-add-energy\/","title":{"rendered":"ABL Group to acquire Add Energy"},"content":{"rendered":"\n<p><strong>ABL Group ASA has entered into an agreement to acquire 100 percent of the shares in energy and engineering consultancy <a href=\"https:\/\/addenergy.no\/\" target=\"_blank\" rel=\"noreferrer noopener\">Add Energy<\/a>. The acquisition broadens ABL Group\u2019s service offering within renewables, enhances services in the opex phase and gains entry into digital optimisation, carbon storage and energy efficiency services that are crucial to the energy transition.<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2020\/09\/Reuben-Segal-edit-2.jpg\" alt=\"Reuben Segal\" class=\"wp-image-13048\" width=\"174\" height=\"174\" srcset=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2020\/09\/Reuben-Segal-edit-2.jpg 500w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2020\/09\/Reuben-Segal-edit-2-300x300.jpg 300w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2020\/09\/Reuben-Segal-edit-2-150x150.jpg 150w\" sizes=\"auto, (max-width: 174px) 100vw, 174px\" \/><\/figure>\n<\/div>\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;ABL Group has traditionally been more exposed to the capex-driven field development part of offshore energy industries. We are through this acquisition gaining additional exposure to the opex-driven side of offshore oil and gas and the power industries, including decarbonisation and life extension work. This reflects our commitment to transitioning all areas of energy and oceans to net-zero.&#8221;<\/p><cite>Reuben Segal, CEO at ABL Group<\/cite><\/blockquote>\n\n\n\n<p>The acquisition also reinforces ABL Group\u2019s value commitment to technical and service excellence, by adding 140 skilled consultants to the group\u2019s global team. It will allow ABL Group to expand its service offering in asset integrity management and opex services within both offshore renewables and oil and gas. Add Energy also brings numerous fully developed software solutions that can be applied to several parts of ABL Group, including its businesses working in the renewables industries: ABL, OWC, Innosea, Longitude and East Point Geo.&nbsp;<\/p>\n\n\n\n<p><strong>About Add Energy<\/strong><\/p>\n\n\n\n<p>Add Energy offers solutions and specialized consultancy services to the energy industry. The company\u2019s solutions are supported by a unique toolbox of proprietary software and analytical tools, developed in partnership with industry and academia.<\/p>\n\n\n\n<p>The company\u2019s two major business lines are asset integrity management, which is provided across a wide range of industries including renewables, and well engineering, management, control and servicing to assure safety, regulatory compliance and efficiency in operators\u2019 drilling, production and decommissioning projects in the oil and gas industry. The company also offers safety and risk management consulting.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/06\/RV-Ahilan-0578.jpg\" alt=\"RV Ahilan\" class=\"wp-image-28981\" width=\"187\" height=\"187\" srcset=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/06\/RV-Ahilan-0578.jpg 800w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/06\/RV-Ahilan-0578-300x300.jpg 300w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/06\/RV-Ahilan-0578-150x150.jpg 150w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/06\/RV-Ahilan-0578-768x768.jpg 768w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/06\/RV-Ahilan-0578-600x600.jpg 600w\" sizes=\"auto, (max-width: 187px) 100vw, 187px\" \/><\/figure>\n<\/div>\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;Our objective is to capitalise on Add Energy&#8217;s world leading subsurface competence and apply it to new segments such as CO2 storage. Further, ABL Group&#8217;s extensive footprint in renewable energy technologies brings huge potential for Add Energy to accelerate its growing energy transition offering. We also want to employ their specialist asset integrity management competence across numerous sectors with a view to increasing ABL Group&#8217;s footprint within the opex-driven operations and maintenance part of asset maintenance.&#8221;<\/p><cite>Dr R.V. Ahilan, Chief Energy Transition Officer ABL Group<\/cite><\/blockquote>\n\n\n\n<p>Add Energy is headquartered in Stavanger, Norway, but its main operating hubs are in Perth, Western Australia; Aberdeen, UK; Houston, USA; and Calgary, Canada.<\/p>\n\n\n\n<p>In 2021, Add Energy delivered revenues of NOK 209 million.&nbsp; The company has a healthy order backlog of approximately NOK 190 million. &nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;ABL Group and Add Energy share a large amount of common clients, and we know that there are great value creation opportunities in translating their regional based business to our extensive global office network. ABL Group has a proven track record of scaling up consultancy businesses, to the benefit of clients, and we will apply this successful blueprint to Add Energy too.&#8221;<\/p><cite><em>Dr R.V.Ahilan, Chief Energy Transition Officer ABL Group<\/em><\/cite><\/blockquote>\n\n\n\n<p>Add Energy\u2019s management team will report to Dr. Ahilan, ABL Group\u2019s chief energy transition officer and member of ABL Group\u2019s executive management team.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/07\/Ole-Rygg.jpg\" alt=\"Ole Rygg\" class=\"wp-image-29953\" width=\"186\" height=\"186\" srcset=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/07\/Ole-Rygg.jpg 800w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/07\/Ole-Rygg-300x300.jpg 300w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/07\/Ole-Rygg-150x150.jpg 150w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/07\/Ole-Rygg-768x768.jpg 768w, https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2022\/07\/Ole-Rygg-600x600.jpg 600w\" sizes=\"auto, (max-width: 186px) 100vw, 186px\" \/><\/figure>\n<\/div>\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;Bringing Add Energy&#8217;s competence into ABL Group will enable us to further improve Add Energy&#8217;s operational performance. It will enable Add Energy&#8217;s team to capitalise on ABL Group&#8217;s systems, competence and client relationships, while we add a couple of strings to ABL Group&#8217;s bow. Together, we aim to provide a highly differentiated offering to our clients.&#8221;<\/p><cite>Dr. Ole Rygg, CEO of Add Energy<\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>ABL Group ASA has entered into an agreement to acquire 100 percent of the shares in energy and engineering consultancy Add Energy. The acquisition broadens ABL Group\u2019s service offering within renewables, enhances services in the opex phase and gains entry into digital optimisation, carbon storage and energy efficiency services that are crucial to the energy [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":29954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"sector":[108,107,106],"service":[763,765],"company":[724],"class_list":["post-29964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","sector-maritime","sector-oil-gas","sector-renewables","service-consulting-engineering","service-loss-prevention","company-abl"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ABL Group to acquire Add Energy - ABL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abl-group.com\/abl\/all-media\/news\/abl-group-to-acquire-add-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABL Group to acquire Add Energy\" \/>\n<meta property=\"og:description\" content=\"ABL Group ASA has entered into an agreement to acquire 100 percent of the shares in energy and engineering consultancy Add Energy. 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