SeaEnergy set to reorganize business structure

SeaEnergy PLC, the innovation-led offshore energy services business, has announced a reorganisation focused on optimising the development of its fast-growing R2S division and boosting operational synergies within the Group.

The reorganisation has four main elements:

– R2S’s Business Development Director, Bob Donnelly, is appointed Director of Business Development for SeaEnergy.  Reporting direct to the Chief Executive, his team will be responsible for continued R2S sales growth and identifying cross-selling opportunities across SeaEnergy’s client base and service portfolio;

– R2S’s Technical Director, Graham Buchan, is appointed Director of Research and Development.  Reporting direct to Mike Comerford, Main Board Operations Director, his team will drive the Group’s innovative focus exemplified by SeaEnergy’s recent shortlisting for the Innovation Award category of the Scottish Business Insider Awards;

– The digital media and forensic experts in R2S’s Max and Co business will join SeaEnergy’s Consulting Division. This will harness their proven skills in making sense of complex information, thereby helping the combined team target high value opportunities through the Group’s unique service offering;

– Led by Evan Watson, R2S will now focus exclusively on its core activity of three-dimensional photographic capture and modelling, together with associated licensing and database management activities, to its blue chip international client base across the oil and gas sector.

Whilst the primary reason for the reorganisation is strategic, some cost savings benefits are anticipated.

David Sigsworth, Chairman of SeaEnergy PLC, said: “This reorganisation strengthens R2S’s focus on its core offering, and positions SeaEnergy to realise the opportunity for synergies we see across our client base.”

John Aldersey-Williams, Chief Executive, added: “SeaEnergy has made great strides in delivering its strategy of bringing innovation-led services and technology to the offshore energy sector that has led to tangible results across the business. Our recently-announced year end results showed rapid revenue growth and a dramatic improvement in the bottom line. This reorganisation positions the Group for further strong revenue growth: it focuses R2S on its core service of asset capture, centralises key functions and will enable the capture of synergies and added-value opportunities across the Group.”

Press Release, April 16, 2014


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