ABL Group to Acquire Ross Offshore

Wednesday, May 15, 2024

Global consultancy ABL Group has entered into an agreement to acquire 100% of the shares of specialist energy consultancy Ross Offshore from Moreld Group.

Following completion of the transaction, Ross Offshore will merge with ABL Group company AGR, further strengthening the group’s centre of technical excellence in wells, reservoir operations and other consultancy services.

Ross Offshore was established in 1997 as a consulting company in Sandefjord, Norway. Since then, the company has grown to be a complete provider of drilling and well management services on behalf of operators.

It holds frame agreements for well management, specialized services and consultancy for a several clients – both small and large – on the Norwegian continental shelf.

“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.

“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,” said Reuben Segal, CEO of ABL Group.

“This partnership is a strategic synergy of two completely complementary companies, unlocking the opportunity to further strengthen our mutual position in 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. 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,” added Jørgen Jørgensen, CEO of Ross Offshore.

The transaction, which is subject to approval by the Norwegian competition authority, is expected to be completed in late second quarter or in early third quarter of 2024.

Categories: Mergers & Acquisitions Industry News Activity Europe Oil and Gas

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