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Growth of Global’s international offshore services continues with Rigfit acquisition

The Global Energy Group recently announced it has acquired a majority shareholding in international marine and offshore accommodation upgrade specialists Rigfit Offshore Ltd.

Rigfit’s proven capabilities will further enhance the high quality inspection, repair and maintenance services Global already delivers to drilling, subsea and platform operators world-wide.

Based in Aberdeen and with offices in Dubai, Rigfit carries out accommodation upgrade projects for major oil and gas industry companies and other marine businesses in the North Sea, the Mediterranean, Africa and the Middle East.

Rigfit owner Brian Knowles will continue to manage the business from Global’s head office in Aberdeen and the company’s international workforce of approximately 100 people will also be retained.

Global Energy Group Chairman, Roy MacGregor, said:  “We are delighted Brian and his team are joining Global’s growing family of successful and ambitious companies.

“The services Rigfit specialise in are an excellent addition to the extensive inspection, repair and maintenance capabilities we already have in our Offshore Drilling Division and Reel Group and further enhance the scope and value of the services we offer our customers around the world.

“We are very much looking forward to working with the skilled and experienced Rigfit team to continue to develop this excellent business.”

Mr MacGregor added that the Global Energy Group is currently progressing with interest in a number of new business opportunities as it continues to pursue its robust strategy of development through organic growth and strategic acquisition.

The Group’s annual turnover for the 2008-09 financial year is expected to be approximately £175million – an increase of around £45million on the previous year.

Mr MacGregor said:  “As a board we are very pleased with the continuing progress we are making in developing the company and are confidently continuing with our strategy of further growth and internationalisation.

“While recent economic conditions have, without doubt, had some effect on the North Sea and on everyone operating in that market, they have had very little impact on our activities in international marketplaces.

“I believe that current circumstances present a real opportunity to get in shape to ensure we are best-placed to take full advantage once the upturn comes.  I certainly welcome the recent improvement in the price of oil and believe it is a positive sign amid the challenges the industry is experiencing.”

Formed in 2005, with main offices in Aberdeen and Inverness, the Global Energy Group’s principal activities are: fabrication; engineering; rig inspection, repair and maintenance; resource management; supply chain solutions and; pipeline services.

With a family of more than 10 companies Global provides employment for over 2,100 people internationally and is one of the largest private employers in the Scottish Highlands.