GPS Plans to Join AIM with Float

GPS Group Limited said that it plans to join the AIM market of the London Stock Exchange and raise new funds by way of a proposed placing of new shares.

Company Information

GPS is an established provider of technology-based process facility solutions to the upstream oil and gas production and processing industry. Its principal businesses focus on the fast growth sectors in oil services solutions, comprising i) the supply of modular process plant ii) turnkey design, procurement, engineering & construction, and iii) commissioning and ongoing operation support.

Specific expertise within GPS lies in the design and supply of gas/liquid/solid separation equipment, Floating Production Storage Offloading (FPSO) topsides and offshore Mobile Operating and Production Units (MOPU), onshore Early Production Facilities (EPF) and electrical and instrumentation systems.

FPSO vessels are designed to take all of the oil or gas produced from a nearby subsea well or platform, process the off take through the topside processing equipment, and store until a further shuttle vessel transports the products to shore. FPSOs have become an increasingly important part of a production plan, as global oil exploration moves further offshore into deeper waters. The Directors believe that the FPSO topside market will continue to expand over the next ten years with the majority of conversion, from tanker to FPSO, being carried out in Dubai, Singapore or Malaysia.

GPS also has a lease, operate and maintain division, which provides MOPUs and EPFs to exploration and production companies. This diversifies the Group's revenues in addition to capitalizing on the currently buoyant rig day rates.

GPS has a blue chip client base including Addax, Occidental, Royal Dutch Shell, Fred Olsen, Petrofac, Petronas Carigali, Murphy Oil Corporation, Talisman, Nexen, DNO, SBM, Modec, Santos, Tanker Pacific, Premier Oil, Bergesen, NIOC, and OMV.

GPS has over 450 international employees, located in key oil service centers of the world. GPS operates from Dubai, Kuala Lumpur and Singapore, where the majority of FPSO construction occurs, and has specific fabrication facilities at Batam Island, Indonesia and Mussafah docks at Abu Dhabi. The Group has a sales presence in Houston, Calgary, Jakarta and Tehran.

Evolution is acting as Nominated Adviser and Broker to GPS in relation to the proposed placing and admission to AIM.

Related Companies
 Company: Nexen, Inc.more info

 - CNOOC Cutbacks at Long Lake Oil Sands Site Caps Years of Trouble (Jul 14)
 - Sources: Nexen Issues Force Majeure for May Canadian Crude (May 12)
 - Canada's Oil Output Spared Fire Damage Seen Able to Rebound (May 9)
 Company: Santos Ltd.more info
 - Santos Names Roc Oil CEO Anthony Neilson as CFO to Replace Andrew Seaton (Sep 19)
 - Australia LNG Export Boom Pains Santos Amid Gas Struggle At Home (Aug 17)
 - Santos to Set Aside $1B in Impairment Charge for Queensland's GLNG Project (Aug 15)
 Company: Shellmore info

 - Shell Suspends Pacific Northwest Crude-By-Rail Project (Oct 7)
 - Norway Gas Plant Workers Agree Wage Deal, Avoid Strike (Oct 7)
 - Oil Industry Teams Up to Fight Cyber-Crime (Sep 29)
 Company: Talisman Energymore info

 - Strong Upstream Performance from European Majors (Jul 28)
 - PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027 (May 10)
 - Repsol Significantly Scales Back Upstream Investment (Oct 15)
 Company: OMVmore info
 - Gazprom Wants More Than 25% Of OMV North Sea Assets (Sep 15)
 - Quadrant Fails to Find Hydrocarbons at Driftwood-1 Well in Carnarvon Basin (Aug 16)
 - OMV Intensifies Investment, Cost Cuts As Oil Price Weighs (Aug 10)
 Company: PETRONASmore info

 - Technip Awarded Subsea Contract in Malaysia (Oct 14)
 - Petronas Weighs Sale To Exit $27B Canada LNG Project (Sep 30)
 - MISC's MaMPU1 to Commence Ops at Vestigo's Anjung Kecil Field Off Sarawak (Sep 30)
 Company: Murphy Oil Corporationmore info

 - Fire at Mississippi gas plant halts US Gulf Coast platforms (Jun 28)
 - PBJV Clinches Contract from Murphy for Work Offshore Malaysia (Jun 14)
 - Canada's Ever-Shrinking Oil Industry Braces for More Job Cuts (Apr 4)
 Company: Fred, Olsen ASAmore info
 - Fred. Olsen Energy Says Lossmaking Contract Levels Persist (Feb 16)
 - Norwegian Oil Drillers Call in Mediator after Wage Talks Fail (May 22)
 - Norway's Fred. Olsen Energy Sees Tough Rig Market Ahead (Oct 28)
 Company: NIOCmore info
 - NIOC: Iran Ready To Raise Oil Output To 4MMbpd Depending On Demand (Sep 5)
 - Iran Likely to Grant Development of 2 Oil Fields to China's CNPC, Sinopec (Aug 24)
 - Gadfly: If Iran Opens Its Oil Sector, Will Saudi Arabia Be Next? (Aug 8)
 Company: DNOmore info
 - DNO Completes 3 New Production Wells in Kurdistan Region of Iraq (Oct 12)
 - DNO Launching Aggressive Drilling Campaign at Tawke Field (Aug 18)
 - Gulf Keystone Rejects DNO Offer (Aug 1)
 Company: Addaxmore info

 - North Sea Decom: 'Campaign Approach' Required to Drive down Costs (Sep 15)
 - Addax Extends Yinson's FPSO Charter Contract for $129M (Oct 20)
 - Addax Extends Charter of Yinson's FPSO Knock Adoon for $39M (Oct 21)
 Company: Premier Oilmore info

 - Trade Group Oil & Gas UK Makes 4 Board Appointments (Oct 4)
 - Premier Oil Reaps $250M Brexit Windfall From Weak Pound (Aug 18)
 - Premier Hits Oil in Bagpuss Well (Aug 5)
 Company: MODEC Internationalmore info
 - Keppel's BrasFELS Completes Project for MODEC's FPSO (Jun 29)
 - McDermott Joins 14 Other Offshore Firms to Establish Industry Standards (May 19)
 - Keppel's Unit BrasFELS Bags $141M FPSO Contract from MODEC (Apr 7)
 Company: Bergesenmore info
 - GPS Plans to Join AIM with Float (Jan 15)
 - Bergesen Selects APL's ETP System for Chinguetti FPSO (Jun 25)
 Company: SBM Offshore N.V.more info
 - Weak Oil Pushes SBM Offshore To Axe More Jobs (Aug 10)
 - FPSO Cidade de Saquarema Commences Ops at Brazil's Offshore Lula Field (Jul 13)
 - SBM Offshore: Judge Confirms Settlement (Apr 6)
 Company: Petrofacmore info
 - Petrofac Appoints New CFO (Oct 21)
 - Petrofac Resumes Operations In Tunisia After Protester Deal (Sep 28)
 - Petrofac, Tecnicas Reunidas Likely To Win Saudi Aramco Deals (Aug 16)
 Company: Carigali Tritonmore info
 - GPS Plans to Join AIM with Float (Jan 15)
 - Smedvig Lands New Contract for Teknik Berkat (Jan 17)
 Company: Tanker Pacific Offshore Terminalsmore info
 - APL to Supply Submerged Turret Production System for Montara (Feb 6)
 - GPS Plans to Join AIM with Float (Jan 15)
 - Jurong Shipyard Secures FPSO Conversion Contracts (Dec 26)
 Company: Global Process Systemsmore info
 - GPS to Provide Process Packages for Nigeria's Usan FPSO Project (Nov 10)
 - GPS, JV Partner Tapped for 2 MOPUs for Offshore Malaysia Ops (Aug 20)
 - Tanjung Awarded Contract by Global Process Systems (Aug 1)

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Manager Strategic Supply Chain Sourcing Job
Expertise: Project Controls|Purchasing|Supply Chain Management
Location: Denver, CO
Strategy & Performance Director Job
Expertise: Budget / Cost Control|Business Analyst|Business Development
Location: Denver, CO
Associate Sourcing Specialist or Sourcing Project Specialist Job
Expertise: Project Controls|Project Management|Supply Chain Management
Location: Denver, CO
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours