THREE60 Energy is beginning 2023 with strong growth following its acquisition of Fraser Well Management, a well and pipeline operator and well management specialist.
The acquisition broadened the company’s well credentials and led to THREE60 Energy becoming one of only two companies that can undertake the role of outsourced duty holder (installation operator), pipeline operator and well operator across the asset life cycle, further positioning the company as a strategic services partner.
All of Fraser Well Management’s personnel transferred to the THREE60 Energy team in July, and the company’s three offices, located in Aberdeen, Great Yarmouth and Rotterdam, remain in operation under THREE60 Energy.
Six months on, THREE60 Energy has enjoyed steady and deliberate growth, reaping the benefits of investing in the future of the business. Its well service line spans the complete well lifecycle, both onshore and offshore, with comprehensive end-to-end well and pipeline operator solutions provided to customers across the world. The company also provides well management, decommissioning, specialist engineering, and commercial services, with sustainability as a key operational consideration.
Having all disciplines in-house, including subsurface, wells, engineering, procurement, construction, and commissioning (EPCC), and operations, means THREE60 Energy is uniquely positioned to provide bespoke solutions and services that are based on a deep understanding of a customer’s issue.
Bringing together experts from different disciplines in a coordinated way to provide comprehensive solutions allows THREE60 Energy to create real customer value through spending time getting to know its customer, evolving, and refining its portfolio to align with the industry’s changing needs, while investing in the right people and planning for the future.
Walter Thain, Group CEO at THREE60 Energy, said: “Together we have created a stronger organisation, fully capable of delivering integrated solutions to our customers throughout the asset life cycle.
“As we continue to transition into sustainable and renewable energies alongside traditional means of energy production and storage, it was vital that we invested in the future of our business and our place in the energy supply chain.
“If the first six months are anything to go by, 2023 is looking bright with a variety of projects in the pipeline. We are immensely proud to have our new team members on this growth journey with us - the integration has been seamless - and we will continue our mutual goal of growing and delivering better energy together.”
Looking ahead into 2023, THREE60 Energy will continue to diversify into new markets and combine service lines, resulting in another year of growth and development of the company’s knowledge of the entire asset life cycle, from exploration to decommissioning, ensuring the delivery of a fully cohesive offering.
Walter continued: “With integrated capabilities and bases across the world, we are ideally placed to support customers, identifying, and progressing optimal solutions, and we are looking at further areas where we can combine our service lines.
“This makes THREE60 Energy a truly independent partner. As many companies are increasingly looking to outsource activities for various reasons, we are here to support them and provide flexible, efficient, safe, and innovative services.”
An example of this includes the integrated management services THREE60 Energy is providing to a customer, who is embracing the outsourcing concept for the first time. Working as a stand-alone team, THREE60 Energy provide comprehensive plug and abandonment engineering scopes, in accordance with the customer’s management system, local regulatory regime and delivering on established templates -, to the customer it looks and feels like the work has been performed in-house, ready for execution. This system has proven to be more cost-efficient for the customer than building a new in-house team, addressing the growing skills shortage and increasing workload of the customer.
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