Lloyd's Register Launches Global Energy Business
The Lloyd's Register Group has created a new Energy business as one the world's most respected assurance organisations realigns its unrivalled portfolio of technical services to better serve this strategically important sector.
The new comprehensive business, formed by merging its Oil & Gas and Chemicals & Power divisions, underlines Lloyd's Register's commitment to become the leading provider of independent assurance services to the energy and transportation industries.
The combined business brings together the Group's capability in the upstream (exploration, drilling, production, and transport prior to refining), downstream (refining, process and petrochemicals), power (power generation, transmission and distribution) and manufacturing (equipment and component manufacturers) sectors, providing an end-to-end service from concept, evaluation and design, through manufacture, in-service operation and maintenance, to plant-life extension and decommissioning.
From oil fields and pipelines to power stations and refineries, the Energy team is helping businesses around the world to improve the safety and performance of their assets. With a global network of more than 8,000 employees across 232 locations, the Lloyd's Register Group is uniquely placed to advise clients at any stage of the supply chain and throughout an asset's lifecycle.
Richard Sadler, Lloyd's Register CEO said "We have recognised that in the past we have structured our businesses in a way that did not best serve our clients. This move reflects our commitment to client focus by recognising the increasing inter-dependencies between sectors of the energy industry and providing clients with a seamless level of assurance throughout their supply chains."
The newly created Energy business will operate with a staff of over 1,900 out of several key office hub locations including Houston, Kuala Lumpur, Shanghai, Mumbai, Perth, Rio de Janeiro, Rotterdam, Aberdeen, Coventry and London in the UK.
Over the past two years the Lloyd's Register Group has been building on its existing competence in the energy sector, delivering organic growth of over 40% pa. The acquisitions of ModuSpec, Capstone, ODS, Knowledge Based Management Ltd (KBM) and Human Engineering Ltd have been integrated to provide compliance, technical consulting and business solutions; services across the full lifecycle of assets.
Iain Light, Lloyd's Register's Group Energy Director said, "Our core business values are important to all of us, are recognised by our clients and remain at the heart of everything we do. This business change to Energy will help us to place more emphasis on our clients to ensure stakeholders throughout the energy supply chain understand the risks relating to plant, equipment and systems. It also boosts our ability to provide skilled and competent people at all levels."
Its Marine and Energy businesses are also supporting the growing market in floating offshore installations (FOIs) for deep water oil and gas recovery solutions. A cross stream FOI team headed up by Global FOI Business Manager Ron Edgar will focus on ensuring the appropriate business development, technical support and service delivery expertise across the Marine and Energy businesses is fully focussed on client needs in this sector.
Recognition of safety and asset performance has greatly improved in the industry, but there still needs to be more awareness and understanding of how assets should be managed. "To secure the growing demands in energy and its sustainability in the future, the life of existing assets has to be extended but in a way that is safe and reliable," Light said. "With our newly created Energy division, our expertise and capability to deliver on challenging applications, often in remote environments, will bring us closer to industry stakeholders. We are well-placed to advise the energy industry on their assets' lifecycles and at any point in the supply chain. Our expertise will ensure competence by better safety performance."
SOURCE: Lloyd's Register Group