READ Well Services has appointed Fraser Louden as its managing director.
Mr Louden – who has been geophysics manager for Latin America with Schlumberger – will be based at the Read operational headquarters in Aberdeen.
He will be in charge of Read operations in the UK and the rest of Europe.
Mr Louden has more than 20 years’ experience in the oil and gas industry, working in a variety of roles in UK, North America, Nigeria, China and Brazil.
Read said he had joined at a pivotal time in the company’s development as it drives forward the commercialisation of its expandable technologies and consolidates its position within the cased-hole logging and borehole-seismic sectors. Mr Louden, who had previously worked for Read, takes over from Paul Hazel who recently left the company after 12 years.
Read employs 75 people.
It is a subsidiary of Norway-based Read ASA, a niche technology service provider to the global hydrocarbon exploration and production industry. The whole group employs 100 people.
Ola Krohn-Fagervoll, chairman of the Norwegian parent, said: “We are delighted that Fraser is joining us in such a critical role. He has vast experience of the oil industry, having fulfilled roles at senior levels both in the UK and internationally.
“Already familiar with the company, Fraser has the skill and knowledge to further penetrate the market with our unique products and expertise. In his former position as research and development manager and later as business-development manager for Europe and west Africa, he was integral to our new product development and the company’s expansion into the African markets.
“2008 is on course to be a successful year for Read ASA, with annual turnover expected to reach over £12million, representing a 25% increase on last year’s figures.”