Lloyd’s Register enhances its capability in the oil and gas and low carbon power generation sectors to strengthen assurance, technical and risk services – a strategic move which will provide confidence to operators in America, Asia, Middle East and across Europe in support of their drive to deliver sustainable, efficient and safe energy provision.
Today Lloyd’s Register (LR) announces its new suite of technical services to owners and operators of energy assets and projects – from upstream oil and gas to power and low carbon infrastructure.
The business draws on its heritage of fresh, innovative thinking in response to new technologies and operating challenges, and brings with it LR Senergy, a global exploration, production and energy services consultancy, which is now a fully integrated company of LR. The move by LR adds to the capability of previously acquired companies including ModuSpec, Scandpower, WEST Engineering, ODS and Human Engineering.
Alasdair Buchanan, Energy Director at LR says: “Our objective is to create value for our customers at a time of challenging market economics. The breadth of technical insight and engineering expertise we can now deliver will provide our customers with an unrivalled portfolio of competitive, and quality engineered solutions.”
Over the last decade, LR has enhanced its technical expertise and resources by acquiring a number of market-leading technical consultancies. In this latest move, the integration of LR Senergy in to the LR business incorporates the full spectrum of LR Senergy capabilities, including well engineering and operations, geoscience, facilities engineering, production optimization and power engineering, supported by a suite of software and training products. The integration of LR Senergy includes SGC Engineering, who will continue to provide a diversified portfolio of survey and data management services to the oil and gas pipeline industry, and expertise for the utility sector in substation design, transmission, distribution, planning and communications.
LR provides independent assurance and technical engineering advice to companies operating high-risk, capital-intensive assets in the energy and offshore sectors. Helping clients to ensure the quality of construction and operation of critical infrastructure – from ships and oil platforms to low carbon power generation plants – it also provides business assurance services to help companies manage their systems and risks across a wide range of sectors.
“Without question, it is a challenging and volatile time for our industry but we are making these service advancements now without compromising our longer-term goals,” highlights Buchanan. “It is critical we deliver value to all our customers, new and current, to collectively work together, and to help ensure they can perform strongly on factors that can be controlled such as safety, operational reliability, and cost efficiencies through better system and process engineering.”
As the world seeks out new energy supplies through production-efficient, low carbon and cost-effective methods, so the demand for assurance services is anticipated to increase as industry stakeholders look to provide added-confidence that the deployment of new technology, and their people, systems and processes provide the necessary level of integrity demanded by engineering principles, government regulations and industry codes and standards.
"This is a highly strategic move for our business as it combines companies that are known for innovation and leadership in the energy, marine and offshore sectors," Buchanan says. "All the members of the LR Group -- new and old -- have a shared ambition to make the energy industry safer and more reliable. The acquisition of LR Senergy and its integration in to the LR business is another step in the execution of our strategy to add value to society and achieve sustainable growth.
“We will pursue joint research and foster exchanges between industry and academics on how to enhance the energy industry’s competitiveness; expand efforts on climate change, clean low carbon energy, and the environment; solidifying our regional and global footprint as the provider of choice on how best to manage risk and safety, and deliver quality technical engineering services.”