AqualisBraemar LOC has entered into an agreement to acquire UK-based East Point Geo Limited to strengthen its geoscience offering within the oil and gas industry.
East Point Geo is an independent geoscience consultancy providing support for offshore and onshore engineering projects, both in oil and gas and renewables.
Within the oil and gas sector, East Point Geo provides services that center on the understanding of ground conditions for foundation engineering. These services include ground models, geospatial and geotechnical analysis, geophysical consultancy and interpretation, geo-risk assessment, geographical information systems, and survey management support, AqualisBraemar LOC said.
According to AqualisBraemar, in the last year, East Point Geo’s turnover totaled around GBP 1.4 million, mainly from renewables projects. East Point Geo is headquartered in Norwich, UK, with an additional office in Oxford, UK.
David Wells, CEO of AqualisBraemar LOC said: “I’m very happy to announce this acquisition. East Point Geo has been a key partner to our rapidly growing renewables unit OWC across a number of offshore wind projects, and we have been continuously impressed with the quality of their delivery. Their complementary expertise enables us to offer a complete range of geoscience consultancy services to our clients, and provides additional growth opportunities within the oil and gas sector."
‘“This transaction represents an exciting new chapter for East Point Geo. Since our establishment in 2016, we have quickly established ourselves as a trusted partner for some of the biggest names in the energy industry. Through AqualisBraemar LOC’s global footprint we will be able to further accelerate the growth of our business, and our joint clients will benefit from an expanded service offering”, says the founding team of East Point Geo.
Today, AqualisBraemar LOC operates in the upstream oil and gas industry through offshore engineering consultancy AqualisBraemar, provider of marine, engineering loss prevention and loss management services LOC, engineering and design consultancy player Longitude, and JLA which delivers rig-related approval services.