Well management firm Exceed has announced the launch of an Australasian business as it eyes the country’s burgeoning decommissioning market.
It is also hoped Exceed Australia will be able to tap into the revitalised offshore sector down under, delivering a financial bump for the Aberdeen-headquartered firm.
Exceed – which received the Queen’s Award for Enterprise: International Trade earlier this year – is currently forging ahead with a strategy of international expansion.
This latest move marks its fifth overseas entity, building upon recent growth into Mexico and Norway.
Exceed Australia is forecast to deliver additional income equivalent to “less than 10%” of its year end 2021 revenue of £11 million.
The division will be headed up by operations manager and Australian industry stalwart, Brad Girdwood.
An ex-Add Energy vice president of well management and engineering, he brings more than 30 years local and international experience to the subsidiary.
Explaining the rationale behind the company’s latest development, Mr Girdwood said: “In the pipeline for some years, the time is now right for Exceed to make its mark upon the region.
“In particular, significant legislative developments surrounding the decommissioning of Australia’s offshore and onshore assets have accelerated the sector’s timeline.
“Honed in the North Sea, Exceed’s spectrum of decommissioning capability provides this evolving $40.5billion market with critical experience and expertise.”
Exceed’s entry into the local decom and well management market is bolstered by the advent of a collaborative relationship with Perth-based oil and gas services provider, ICON Engineering.
Ian Mills, Exceed managing director, added: “ICON’s impressive track record in delivering unrivalled innovative, practical turnkey solutions to the offshore field development industry in both facilities and in support of drilling operations is entirely congruent with our approach across all stages of the well lifecycle.
“Since 2010, Exceed has built upon its well management service through the development and implementation of efficient intervention and abandonment programmes, expertly executed in full compliance with all North Sea regularity requirements. Initially, our joint objective with ICON is to provide the emerging Australian decommissioning sector with the end-to-end project service it requires, with full focus upon compliance, safety and efficiency.”