ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
“The Board is delighted that Hege Marie has accepted the CEO role and that ‘Mr ABL’ Reuben Segal remains with the company he co-founded, to drive further growth. Hege Marie already knows ABL Group well, having served on the Board of Directors for the past two years, while Reuben takes on the CGO role that is perfectly suited to his customer-centric skillset and global network. The message from the Board is to deliver improved and resilient return on capital, continued growth and further consolidation of our industry. The combination of Hege Marie and Reuben is ideal to deliver on this objective.”
Glen Rødland, Chairman of ABL Group
Hege Marie Norheim is a seasoned industry professional with 30 years’ experience from senior leadership roles. She has extensive oil and gas as well as renewables experience from almost 15 years in Senior Vice President positions at Norsk Hydro and Statoil (now Equinor), as well as at NYSE-listed FREYR.
She has worked globally as a consultant for more than seven years and has served as director on the board of multiple industry, finance and technology companies, including ABL Group. Norheim is currently Director of Transformation and Energy at Paris-listed, global IT company Sopra Steria. She is a former junior minister of the Norwegian Prime Minister’s office as well as the Norwegian Ministry of Finance. Norheim holds a master’s degree in economics and business administration from NHH – the Norwegian School of Economics.
“Our main priority is to deliver profitable growth in a volatile energy and marine market. Volatility and new technology will create opportunities for global companies like ABL Group. We aim to achieve this by improving our responsiveness to change and helping to design the future of the global energy and maritime industries. Millions of people’s affluence depends on our services and the quality we deliver. I am proud to join such a large and highly competent global team.”
Hege Marie Norheim
Reuben Segal, who has been CEO of ABL Group since 2022, takes on the Chief Growth Officer role. He has previously been COO and headed up the group’s Middle East operation. He co-founded the predecessor to ABL Group in 2013.
“The Board and Hege have asked me to use my industry experience and vast global network to boost our work with new and existing clients and our M&A activities. This is a challenge I appreciate and enjoy, and which I have accepted knowing that I am passing the CEO-baton onto a very capable leader in Hege Marie.
Reuben Segal
ABL Group’s current CCO, Ian Cummins, will take on the newly created title as Chief Performance Officer – tasked with continuing his focus on performance and strengthening the Group’s previously announced drive to enhance operational efficiencies.
The management changes will be effective from 15 September 2025. As a result of the changes, Hege Marie Norheim will step down as Board Member of ABL Group.
ABL Group has been named a finalist for the Energy Industries Council (EIC) Collaboration & Culture Award 2025. The accolade recognises the company’s commitment to building a resilient, diversified global consultancy through collaboration, innovation, and cultural integration.
In an interview for the EIC’s Survive & Thrive IX edition, CEO Reuben Segal highlighted ABL Group’s strategy of proactive diversification through organic growth and strategic acquisitions, all underpinned by a strong culture of collaboration across its four brands – ABL, AGR, OWC, and Longitude.
Since its formation, ABL Group has evolved from a predominantly oil and gas consultancy into a multi-disciplinary leader in energy and oceans, now operating in over 300 locations across more than 40 countries. Its collaborative model enables the delivery of integrated, end-to-end solutions across the energy and marine value chain. Notable examples include:
Shipyard construction supervision, combining ABL’s marine expertise with Longitude’s ship design capabilities.
Climate change risk assessments for renewable and maritime assets, leveraging the combined strengths of ABL, OWC, Longitude, and recently acquired Hidromod – now part of ABL.
Through-life rig services supporting safety, sustainability, and performance, integrating the expertise of ABL, Longitude, and AGR.
Segal also emphasised the importance of geographic expansion, innovation, and empowering young talent as key drivers of ABL Group’s collaborative growth.
“This multifaceted approach – combining strategic acquisitions, geographic expansion, segment diversification, culture integration, and youth empowerment – has positioned ABL Group as a resilient global consultancy.”
Reuben Segal, ABL Group CEO
Discover more on ABL Group’s Collaborative Approach
Read the full interview with CEO Reuben Segal in the EIC’s Survive & Thrive IX edition, and explore how our values and purpose drive collaboration across our global teams:
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
Between 2019 and 2022, ABL Group ASA (the “Company” or “ABL Group”) granted employee share options as part of the Company’s long-term incentive plan (“LTIP”). Each option gives the right to receive one share in the Company. For more information on the LTIP and outstanding share options, please see the Company’s Annual Report.
The Company has today opened an exercise window in which option holders may exercise vested share options. The exercise window closes on 8 September 2025, and any exercises will take effect only at the end of the window.
The following share options vested in 2023 and may be exercised during the current window:
2,372,500 share options, held by 39 option holders, each with an exercise price of NOK 4.68. If not exercised, these options expire shortly after the end of the current window.
Following the conclusion of this exercise window, 740,000 employee share options will remain outstanding, each with an exercise price of NOK 10.69. These options will expire in April 2026.
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
20 August 2025 – ABL Group’s 2025 second quarter results
HIGHLIGHTS Q2 2025
Revenues of USD 96.1 million (Q2 24: USD 68.6 million)
Operating profit of USD 2.5 million (Q2 24: USD 2.2 million)
Adjusted EBIT of USD 3.5 million (Q2 24: USD 2.8 million)
Net cash of USD 1.0 million (Q1 25: USD 3.5 million)
Acquisition of Techconsult completed in April
Semi-annual dividend of NOK 0.45 per share paid in June
Reuben Segal, CEO of ABL Group ASA (“ABL Group” or the “Company”) commented:
“In the first half of 2025, we continued to execute on our strategy to build a diversified and resilient consultancy business serving the Energy and Oceans markets. The integration of Proper Marine and Techconsult is progressing well, strengthening our capabilities in primary design and resourcing, and driving the strong year-on-year revenue growth of 40% in Q2 2025.
Our adjusted EBIT was 25% higher than Q2 2024, reflecting solid performance across the group and the successful integration of recent acquisitions, even as we absorb structurally lower-margin businesses such as Ross Offshore and Techconsult. Our cost and efficiency plan, originating with the OWC business, has been expanded in other parts of the business and continues throughout the second half of 2025 as we continue to seek operational efficiency and margin improvement.
We remain positive about the market outlook despite current volatility. Offshore oil & gas and maritime activity are expected to remain stable through 2025, with ABL maintaining a strong position in a relatively steady maritime market. Geopolitical uncertainty continues to delay investment decisions in the renewables sector, but tendering activity is picking up. OWC is also diversifying its market exposure, with onshore wind, solar, and energy storage now making up 20% of hours billed in Q2 2025.”
A presentation of the quarterly results will be held today at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after. To watch the webcast, please visit ABL Group’s website, www.abl-group.com.
The quarterly report and a corresponding slide presentation is available on www.newsweb.no and on ABL Group’s web site, www.abl-group.com.
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
Revenues of USD 96.1 million (Q2 24: USD 68.6 million)
Operating profit of USD 2.5 million (Q2 24: USD 2.2 million)
Adjusted EBIT of USD 3.5 million (Q2 24: USD 2.8 million)
Net cash of USD 1.0 million (Q1 25: USD 3.5 million)
Acquisition of Techconsult completed in April
Semi-annual dividend of NOK 0.45 per share paid in June
Reuben Segal, CEO of ABL Group ASA (“ABL Group” or the “Company”) commented: “In the first half of 2025, we continued to execute on our strategy to build a diversified and resilient consultancy business serving the Energy and Oceans markets. The integration of Proper Marine and Techconsult is progressing well, strengthening our capabilities in primary design and resourcing, and driving the strong year-on-year revenue growth of 40% in Q2 2025.
Our adjusted EBIT was 25% higher than Q2 2024, reflecting solid performance across the group and the successful integration of recent acquisitions, even as we absorb structurally lower-margin businesses such as Ross Offshore and Techconsult. Our cost and efficiency plan, originating with the OWC business, has been expanded in other parts of the business and continues throughout the second half of 2025 as we continue to seek operational efficiency and margin improvement.
We remain positive about the market outlook despite current volatility. Offshore oil & gas and maritime activity are expected to remain stable through 2025, with ABL maintaining a strong position in a relatively steady maritime market. Geopolitical uncertainty continues to delay investment decisions in the renewables sector, but tendering activity is picking up. OWC is also diversifying its market exposure, with onshore wind, solar, and energy storage now making up 20% of hours billed in Q2 2025.”
A presentation of the quarterly results will be held today at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after. To watch the webcast, please visit our Reports and Presentations page.
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
ABL Group ASA (“ABL Group”) will release its second quarter results on Wednesday, 20 August 2025, at approximately 06:00 Central European Time (CET).
A presentation of the quarterly results will be held on the same day at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after.
The global energy, marine, and engineering consultancy, ABL Group, has signed a strategic collaboration agreement with IntelliS Corporation to strengthen global technical workforce capabilities. The agreement establishes a cross-border framework for cooperation in personnel resourcing and service delivery across key energy and marine markets.
ABL Group, through its resourcing arm, AGR Consultancy (AGR), will bring its proven expertise in technical staffing and workforce planning across the North Sea and Australia with IntelliS’s established footprint in Asia, and growing operations in the Middle East and Africa.
The two companies will collaborate on relevant projects to create a seamless talent bridge between East and West, unlocking clients’ access to highly skilled professionals wherever and whenever they are needed.
“This partnership is about synergy. Energy and oceans are facing mounting pressure from skilled labour shortages – particularly in upstream oil & gas, offshore wind, and emerging areas like carbon capture, transport and storage (CCS). These challenges are compounded by the complexities of cross-border operations. Our collaboration directly addresses these issues by offering an integrated, compliant and agile talent resourcing solution.”
Thomas V. Saue, General Manager of AGR Consultancy Europe
A Combined Talent Pool of +126,000 Professionals
Under the agreement, ABL Group and IntelliS will collaborate on projects across Southeast Asia, China, and the Gulf Cooperation Council (GCC) countries, with plans to expand into Africa and Latin America by 2026. For clients, this means:
Faster access to qualified workforce across time zones
Streamlined mobilisation with full compliance on visas, taxation, and local regulations
24/7 support and localised service delivery
Seamless documentation and invoicing for referred engagements
Access to a global talent pool of over 126,000 professionals across engineering, HSEQ, commissioning, maintenance, and project management in oil & gas, power, and renewables
Delivering More Than Talent
At the heart of this collaboration is a shared belief: the right people drive project success. Through AGR, ABL Group brings more than access to talent — it brings the ability to identify, assess, and deliver professionals who are not only technically qualified but also aligned with the culture, pace, and demands of each project.
“I am delighted to have the opportunity to collaborate with ABL Group. Together, we can strategically strengthen technical workforce capabilities to markets where it is needed most.”
Sabrina Cheng, CEO of IntelliS Corporation
This is a non-exclusive agreement, allowing both companies to maintain flexibility while jointly delivering scalable, high-impact workforce capabilities to clients worldwide.
Discover Technical Talent Resourcing with ABL Group
Explore AGR’s international staffing solutions for oil & gas, maritime, and renewable energy sectors, and get in touch to unlock top-tier talent across Asia Pacific and the Middle East:
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
The Tangguh UCC Project comprises Ubadari field development, enhanced gas recovery through carbon capture, utilization and storage (EGR/CCUS) and onshore compression, operated by bp in Papua Barat Province, Indonesia.
Tangguh’s EGR/CCUS, part of the UCC Project, aims to be the first CCUS project developed at scale in Indonesia, with potential for sequestering around 15 million tonnes of CO2 from Tangguh’s emissions in its initial phase.
P.T. JGC Indonesia has been contracted by bp as the Onshore Engineering, Procurement, Construction and Installation (EPCI) Contract for the Tangguh UCC Project in Indonesia and will be responsible for installation of the onshore compression facilities at the Tangguh LNG Plant.
New units at the onshore LNG facility mainly consist of Hydrocarbon Compressors (2,350 MMSCFD) to boost natural gas pressure from the existing gas wells, EGR Compressors (270 MMSCFD) to collect and compress acid gas from the existing acid gas removal unit, and a newly-built combined cycle power plant as well as associated utilities.
P.T. JGC Indonesia has contracted ABL to support their scope through the provision of Marine Warranty Survey Services. ABL’s operations in Indonesia have been awarded the contract and will manage the project’s scope of work, which includes the technical review of project documentation, drawings and calculations relating to the transportation of the warranted cargoes, and suitability surveys of the proposed transportation fleet for these cargos.
ABL will also provide on-site attendances to witness and approve the RoRo (roll-on, roll-off) and LoLo (lift on, lift off), loadout, transportation and discharge of modules from Indonesian fabrications facilities along with associated long-lead/ high value, cargo shipments from various Asian and European ports to the Tangguh site in Papua Barat Province, Indonesia.
It will resource the in-country site attendances locally out of its Jakarta and Batam offices. Further, it will draw upon the support of ABL’s wider global footprint to provide site attendance and vessel surveys in the required international project locations.
“This project combines both ABL’s market-leading reputation in marine warranty survey and the wider ABL Group’s proven expertise in key energy transition technologies, including in CCUS and geothermal. We are delighted to be appointed to support JGC – and bp – in this important initiative to help Indonesia meet its growing energy demand. It is a testament to both our historic legacy in Indonesian marine and energy sectors, with a long-term track-record in-country, as well as to our recognised status worldwide to support clients in complex large-scale projects of this type.”
Reuben Segal, CEO of ABL Group ASA
*ABL Group defines a sizeable contract as between USD 1 and 3 million in expected value.
Find out more about ABL’s expertise in Marine Warranty Survey (MWS) or contact our Indonesian operations to discuss your local project and our support:
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
ABL Group ASA (the Company) has been notified of the following purchase of shares by primary insider and board member, Yvonne Litsheim Sandvold: 9,816 shares at NOK 9.44 per share.
Following the share purchase, Yvonne Litsheim Sandvold holds 15,816 shares in the Company.
ABL Group (OSE: ABL Group ASA – ticker code “ABL”) is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
The shares in ABL Group ASA will be traded ex-dividend NOK 0.45 as of today, 30 May 2025.
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.
