Peterson Offshore, SBS Logistics Restructure, Rebrand Businesses

Den Helder based, Peterson Offshore Group (POG) and UK based SBS Logistics Ltd jointly announced that they plan to restructure and re-brand their businesses in the Netherlands and in the UK over the next 3 months. As part of the restructure SBS Logistics Ltd will become a wholly owned subsidiary of POG and will trade in the name of Peterson-SBS. The existing Dutch companies belonging to the group will also trade in the name of Peterson-SBS.

POG is a privately owned organisation which specialises in logistics services, quality control and risk management. POG acquired a 20% shareholding in SBS Logistics Ltd in 2005 and this restructuring of its oil and gas logistics operations is seen as a natural development of what has been a very successful strategic partnership between the companies.

Rob Tompot, CEO of Peterson comments, "Our further investment in SBS underlines that we are very confident about the future of the organisation and the UK market. In Holland we learned with support of our clients, how to deal best with the maturing of the continental shelf. We developed innovative solutions like vessel sharing and helicopter sharing which proved to be very cost effective, whilst improving safety and flexibility. We hope to be able to add more service value to SBS's clients by making these systems available to them. We will continue to learn from each other and implement best practice in both regions.

"In keeping with the positive entrepreneurial spirit within this successful company, we are offering the management team at SBS the opportunity to obtain shares in Peterson Offshore Group. Our ongoing focus is to continue to deliver in depth quality E&P logistics solutions, performed at the highest safety levels to our clients round the North Sea and other areas in the world where Peterson is already established."

SBS Logistics Ltd, headquartered in Aberdeen since 1998, was subject to a Management Buy-Out in 2002. In the last 6 years the company has pursued a successful growth strategy by developing its range of integrated offshore logistics services in support of its customer's exploration, production and decommissioning activities in the UK and through the development of new and existing supply bases in Shetland, Aberdeen, Edzell, Great Yarmouth and Heysham.

Mike Porter, Managing Director of SBS Logistics, commented "We are very proud of what our team has achieved in the last 6 years. Becoming part of a larger and highly regarded company within the oil and gas industry with an established global network, allows SBS Logistics to further realise and achieve our ambition to improve, expand and internationalise our range of services. We have achieved this with this deal and at the same time retained our privately owned status which allows us to take a long term view when developing our relationships with staff, clients and suppliers.