News release 15.03.2015

LR Senergy and EnergyOne AS form strategic partnership

Leading global energy services company LR Senergy and emerging new business EnergyOne AS have formed a strategic alliance to support business development in Norway and internationally.

LR Senergy’s Norway business, Senergy AS, has been acquired through a management buy-out and will now trade under the company name of EnergyOne AS as an oil company.

Working in collaboration, the two organisations can offer significant subsurface resources through the local presence EnergyOne provides coupled with the global, extensive competencies of LR Senergy, which also includes enhanced services in project management, well engineering and development solutions, as well as an associated suite of software solutions.

James McCallum, chief executive officer at LR Senergy, said: “While Norway remains a key region for LR Senergy, the evolving international marketplace and current economic conditions mean that we must adapt to meet our clients’ changing needs on a global scale. Therefore, through supporting each other, this innovative agreement with EnergyOne will help LR Senergy maintain its established presence in Norway and strengthen our position for capitalising on new business opportunities.

“EnergyOne is a fast-emerging company that shares the same values as LR Senergy and I’m confident the agreement will help the organisation fast track its business.

“Our Norway operations will now be managed by a senior representative based within the Lloyd’s Register’s (LR) office in Stavanger and we will continue to provide our full range of services and technical expertise with support from our other centres of excellence around the world. By collaborating with our LR colleagues, we can provide an even greater portfolio of services to our existing and also new clients.”

Øystein Roti, CEO at EnergyOne, was vice president of Aligned Services at LR Senergy before the buy-out of Senergy AS.

He said: “LR Senergy has an established track record in Norway and provides a strong business platform for EnergyOne to build upon. EnergyOne is engaged in the exploration, development and operation of oil and natural gas, and LR Senergy’s Norway team bring strong skill sets in these disciplines and we look forward to welcoming them into our team.

“EnergyOne is now well positioned to expand our capabilities in the Middle East, in Africa and around the North Sea. I believe that our cooperation with LR Senergy can lead to significant and exciting new business opportunities.”

LR Senergy is a global provider of fully-integrated project and asset development services across the energy sector. Its services encompass geosciences, reservoir engineering, geohazard assessment, marine site surveys, rig positioning, geographic information system (GIS) solutions, wells engineering and operations, production technology, core analysis, geomechanics, formation damage, reserve and asset evaluation, facilities engineering, project management, power engineering and alternative energy solutions. The company also develops and supports innovative software technologies such as its own IP™ and ODM™ packages as well as delivering a suite of associated technical training courses.

For more information about LR Senergy, please contact Karen Grant on +44 1224 211045, +44 7805 436 957 or Karen.grant@bigpartnership.co.uk

For details about EnergyOne AS, please contact Øystein Roti, Managing Director on +47 41 76 76 65 or email Oystein.Roti@energyone.no