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Penspen targets Asia Pacific topside and FPSO market with DPS Engineering take-over

30th September 2014

This acquisition significantly strengthens Penspen’s oil and gas process facilities engineering capability, and brings access to the FPSO construction market in Asia Pacific

Penspen targets Asia Pacific topside and FPSO market with DPS take-over
DPS has built a particularly strong reputation in the floating production, storage and offloading (FPSO) topsides market, having undertaken the detailed design of around 10 FPSOs in recent years

The acquisition, which increases Penspen’s headcount by 10 per cent, took place in mid-September, and supports Penspen’s strategic drive to grow the scope of services that it provides to its clients.

“This is a very exciting time for Penspen and DPS Engineering,” said Peter O’ Sullivan, Penspen’s, chief executive. “We are confident that our new partnership will appeal to our clients and we look forward to working with them to develop high quality onshore and offshore production facilities for their oil and gas assets.”

The purchase includes all DPS engineering staff based in Singapore and Bristol, whose skills and experience will enable Penspen to support its clients throughout the full life cycle of their oil and gas assets.  The DPS Engineering team have an excellent track record in the design of topsides for fixed platforms and FPSOs, as well as for onshore process facilities.

This acquisition comes in the same month that Penspen has rebranded to bring all its existing sub-brands under a new, dynamic Penspen banner.  This rebranding coincides with Penspen’s 60th anniversary year, and is aimed at raising the profile of the business, positioning it as one of the world’s leading energy services companies.

The engineering division of DPS undertakes the design of integrated oil and gas production facilities for both on and offshore projects. The company supports operators from the field development stage, through FEED, detailed design, to construction and commissioning supervision. The company has built a particularly strong reputation in the floating production, storage and offloading (FPSO) topsides market, having undertaken the detailed design of around 10 FPSOs in recent years.

DPS’s main engineering centres in the UK and Singapore will complement Penspen’s existing international office locations.

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