Three60 Group has acquired Stavanger based Ridge AS who specializes in the provision of engineering and consultancy services in the subsurface, drilling & wells, subsea and facilities disciplines mainly in the Norwegian North Sea.
The acquisition of Ridge represents the third constituent company of the Three60 Group following the investments in LEAP Energy and Step Change Engineering.
The headquarters of Ridge will remain in Norway and the existing management team of Ridge will continue to lead business operations, with key personnel to be recruited in Three60’s UK and Southeast Asia locations to supplement and expand the Ridge offering internationally, the company explained.
Gerwyn Williams, Group CEO said, “The acquisition of Ridge represents a key service addition to the Three60 Group as we continue to build a global portfolio of excellent companies who together will provide operators with a complete suite of technical services across the whole asset life cycle. We know that customers of LEAP Energy, Step Change Engineering and Ridge want them to offer a wider capability with the same technical excellence and service ethic they currently provide.”
Walter Thain, CEO North Sea Business said, “This addition to our overall service capability is extremely timely as we look to consolidate our integrated offering with capability in subsurface, drilling and facilities in conjunction with geographic expansion. We believe we can grow this business through adding capability including well engineering and production optimization services, continuing and accelerating the growth trajectory in Norway, and exporting the subject matter experts’ capabilities overseas.”
Jarle Veshovde, managing director of Ridge, said: “We are delighted to join the Three60 Group and look forward to leveraging our combined international footprint and exporting our services overseas. The wider integrated offering, with Step Change Engineering and LEAP Energy, will enable us to provide an enhanced service in field development, well management and production optimization for our customers.”