George Morrison, CEO at Aquaterra Energy
(WO) – Aquaterra Energy’s existing management team has taken ownership of the UK-based offshore well access and field development company. The company said the change keeps its strategy and leadership in place and gives it a platform for its next phase of growth.
Aquaterra has secured financing from HSBC and plans to keep investing in well access and field development services, including its recoverable abandonment frame (RAF) system and AQC connector. In recent years, the company has expanded into intervention, abandonment, decommissioning and energy transition work.
“This new ownership structure gives us a strong platform from which to continue investing in our people, capabilities and technology,” said George Morrison, CEO of Aquaterra Energy. He said the company will focus on new technology, expanding its geographic footprint and applying its approach to newer sectors such as carbon capture and storage (CCS).
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