LONDON (Alliance News) - SeaEnergy PLC Thursday said it has maintained growth in its operations in the first half, saying it has secured new and extended contracts across its business segments in the period.
The offshore energy services firm said it saw continued year-on-year growth for its R2S technology, with fifteen international operators now using the product, including FTSE 250 firm Premier Oil PLC.
R2S builds a virtual model of offshore installations using high definition '360 degree' photography, which allows maintenance and performance data to be embedded, indexed and managed without physically visiting the offshore installations.
It said the R2S arm returned to more normal growth levels in the second quarter after a big boost in the first quarter amid some project delays and reschedulings to the second half of the year.
The firm expects R2S to have a strong second half, given its robust order book and demand from the North Sea, US and Mexican markets for the technology, and it is forecasting it to outperform the first six months in the second half.
In April, SeaEnergy reorganised its business structure around the R2S division.
Elsewhere, the firm said its consulting business showed further growth in the first half, including an extension of its contract with Denmark-based offshore wind firm DONG Energy. In its marine arm, SeaEnergy said its joint venture with Go Offshore (Asia) Pte Ltd was confirmed last week and is performing in line with expectations.
"The first half has clearly demonstrated the strategic benefits of our strategy. The three business divisions have all seen growth at different rates, but combine to ensure a strong level of growth at a group level," said SeaEnergy Chairman David Sigsworth.
SeaEnergy shares were down 1.3% to 34.55 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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