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Penspen wins new contracts in the Middle East

Industry

Penspen, a leading global energy services company, has secured more than US$25mn worth of new contracts during the first quarter of 2022, including more than eight new contracts in the Middle East across the project management consultancy, engineering, and asset integrity service lines

The company attributes this strong sales performance to strong demand in the market for Penspen’s energy engineering services and for its extensive experience. Increased investment in energy infrastructure as a result of higher energy prices, as well as growing investment in planning for the energy transition to achieve net zero by 2050, are also factors.

“We have decades of experience which is highly relevant to the challenges that our clients are currently facing as they switch to delivering lower carbon energy for their customers, whether it’s building new infrastructure to deliver natural gas for power generation or repurposing existing pipeline networks for use with hydrogen,” said Peter O’Sullivan, Penspen CEO. “These sales results are a reflection of the trusted relationships we have built with many long-term clients over the years as we help them address these challenges.”

“It has been a challenging marketplace for everyone, but the team has done an outstanding job in continuing to grow the company, thus enabling us to continue delivering value to our clients,” added Neale Carter, executive vice president for the Middle East, Africa and Asia Pacific Regions.

“The Middle East is a key market for us and the majority of the new contracts in the region are medium and long-term, demonstrating the faith our clients and partners have in us.”

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