ABL to Acquire Energy Consultancy Ross Offshore

Global consultancy ABL Group is acquiring 100 percent of the shares of specialist energy consultancy company Ross Offshore from Moreld Group AS.

Ross Offshore will merge with ABL Group company AGR after the completion of the transaction. The move will add to ABL Group’s technical excellence in wells, reservoir operations and other consultancy services, ABL Group said in a news release.

The transaction is subject to approval by the Norwegian competition authority, and completion is expected late in the second quarter or early in the third quarter, ABL said in the release.

“We welcome the Ross Offshore team to ABL Group and look forward to the amalgamation of the business within our AGR brand. This is the latest expansion of our technical offering in wells and reservoir operations, bringing together an even deeper pool of expertise, that enables us to support more clients worldwide across their oil operations,” ABL Group CEO Reuben Segal said. “Moreover, Ross Offshore’s competency in marine operations consulting further enhances the Group’s market position as consultant of choice to support energy and marine operations”.

A specialist in engineering consultancy in well engineering, drilling project management, technical safety, decommissioning, subsurface and asset evaluation services, AGR offers software and resourcing solutions for hydrocarbon and low-carbon projects. It also provides expertise in energy transition technologies like carbon capture, storage and utilization (CCUS) and geothermal, ABL said. 

“As oil and gas companies have continued to grow over the years, we too need to expand our capacity and competence to ensure that we can provide the best possible support to our clients through the challenges they face,” AGR CEO Svein Sollund said. “AGR first joined forces with First Geo, then Add Energy, and now Ross Offshore, showing our commitment to growing with our customers to drive safety and efficiency in their oil operations in both current and new markets worldwide”.

Headquartered in Stavanger, Norway and established in 1997, Ross Offshore brings additional offices to ABL Group, in Sandefjord and Bergen, Norway. It holds frame agreements for well management, specialized services and consultancy for several clients on the Norwegian continental shelf, according to the release. 

Ross Offshore provides marine mobilization services, HSEQ consulting, contract and logistics support. This adds to ABL Group’s growing service portfolio in supporting energy and marine operations, it said.

“This partnership is a strategic synergy of two completely complementary companies, unlocking the opportunity to further strengthen our mutual position in [the] oil and gas markets, so we can help bring best practice to more clients in more countries globally. It also represents a chance for both companies to grow our activity in the energy transition space,” Ross Offshore CEO Jørgen Jørgensen stated. “Lastly, with AGR and part of ABL Group, we will be able to nurture and grow the Ross approach for technical excellence beyond Norway and into new industry sectors”.

“Ross Offshore has demonstrated strong growth under the ownership of the Moreld Group, and we are confident the transition to the ABL Group will continue this successful journey,” Moreld Group CEO Geir Austigard said. “The strategic decision of this agreement reflects our commitment to optimizing the portfolio and focusing our resources where they can have the greatest impact, enabling Moreld to pursue opportunities aligned with our long-term strategy”.

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