Weir Oil & Gas completes $114mn takeover of KOP
Upstream service and equipment firm Weir Oil & Gas has completed its $114mn acquisition of KOP Surface Products, a provider of advanced pressure control wellhead technologies, systems and services.
The company said the acquisition reflects its commitment to global expansion growth, with a significant focus on Asia Pacific.
“Since opening the first wellhead manufacturing facility in Dubai’s Jebel Ali Free Zone a short while ago, we have continued to expand our global reach by supporting our customers, no matter where the job takes them,” said Paul Coppinger, Weir Oil & Gas President.
“Our ability to manufacture products nearby is only part of the equation. We must continue to support customers through the service and products we provide. Acquiring KOP underlines that commitment and strengthens our promise to operators in this vital region.”
KOP has a long history and leading market positions in South East Asia, with a strong emerging business in the Middle East. KOP employs 450 people and is a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry.
“From a technology, service and talent standpoint, this is an excellent fit and we look forward to our future together as a combined organization,” said Gordon Cameron, Chief Executive of KOP Surface Products.
“We see this as a substantial opportunity to offer more to our customers and prospects in the region. No doubt, we are stronger together.”
Cameron will continue to serve as President and report into Paul Coppinger, President of the Oil & Gas Division.
Protium Green Solutions targets Scotland hydrogen potential
Protium Green Solutions (Protium), a leading UK-based green hydrogen energy services company, has expanded its UK footprint with the opening of Protium Scotland, led by newly appointed Jon Clipsham as Chief Commercial Officer.
Following a year of "significant growth" for the London-based firm, Protium’s activity across the green hydrogen space continues to demonstrate the viability of green hydrogen for businesses accelerating their net zero strategies and its CAPEX totals more than £1 billion for projects across aviation, road transport, alcoholic manufacturing and food & beverage sectors.
Protium’s Scotland presence has been established to support its growing projects in the region, with three clients currently based in Scotland and additional projects in the pipeline. Clipsham will lead Protium’s client engagement team across all UK regions, further supporting existing clients’ decarbonisation efforts across its accelerating projects.
Clipsham has been hired to spearhead the Scotland-based office, bringing with him over 30 years’ experience having spent more than 25 years in the chemicals industry and more than five years in the green hydrogen space.
Previously he developed and led many of the projects which have driven the growth of the green hydrogen eco-system in Orkney, and he also plays an influential role in shaping Scotland’s hydrogen policies and regulation, as a Board member of the Scottish Hydrogen and Fuel Cell Association (SHFCA). He also holds various lecturing positions at notable Scottish universities and educational institutes (covering hydrogen and renewable energy).
Clipsham said he is fully aligned with Protium’s mission of taking action and delivering change while policy and industry catches up. "I look forward to working with the team and its clients in supporting the national energy transition and am proud to be joining forces with other experts in the field who share the same vision," he said.
Chris Jackson, CEO of Protium, said: “We can see first-hand how the appetite for green hydrogen is increasing so leveraging Jon’s expertise and technical capabilities will be instrumental in delivering the best result for our clients - I am confident we’ll be able to demonstrate how green hydrogen is an exciting solution for these organisations overhauling their decarbonisation efforts.
“As we approach the second year of the business this milestone marks an important step for Protium as our client portfolio continues to grow, government support steadily increases and as UK-brands explore sustainable energy alternatives.”
With Protium’s senior leadership team holding external decision-making roles in relevant hydrogen Associations and Institutions, together Clipsham with Jackson, and Head of Policy and Innovation, Jen Baxter, the team will play an influential role in championing hydrogen and its place in the green economy. Jackson is currently the Chairman of the UK’s Hydrogen & Fuel Cell Association and Baxter is on the Board of Industry Wales.
The Hydrogen Map lists the following projects in Scotland: Big Hit (phase 2); Acorn Aberdeenshire (Blue Hydrogen); Hydrogen Bus Project (Aberdeen); Aberdeen Exhibition and Conference Centre; and Levenmouth Community Energy project.