LONDON (Alliance News) - SeaEnergy PLC Wednesday announced a reorganisation of its business structure to improve the development of its fast-growing R2S division and boost operational profitability.
The Scotland-based energy services company said the reorganisation, which is expected to bring cost savings, has four main elements.
The company said R2S's Business Development Director, Bob Donnelly, has been appointed Director of Business Development for SeaEnergy. Donnelly's team will be responsible for continued R2S sales growth and identifying cross-selling opportunities across SeaEnergy's client base and service portfolio.
SeaEnergy said R2S's Technical Director, Graham Buchan, has been appointed Director of Research and Development to drive innovation at the company.
The company also said the digital media and forensic experts in R2S's Max and Co business will join SeaEnergy's Consulting Division in order to help target high value opportunities.
Finally, the company said R2S will now focus exclusively on its main activity of three-dimensional photographic capture and modelling, together with associated licensing and database management activities, to its client base across the oil and gas sector.
"Our recently-announced year end results showed rapid revenue growth and a dramatic improvement in the bottom line," Chief Executive John Aldersey-Williams said in a statement. "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."
SeaEnergy shares were up 4.8% to 39.94 pence Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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