Surge in activity in oil and gas sector globally lifts turnover 25% to £308 million
Energy sector recruitment specialist Orion Group has reported a significant rise in turnover and profits for the 2011 year.
The Inverness-based company said turnover rose by 25 per cent to £308 million for the year to December31, 2011, and profits were up 62 per cent to £9.14 million.
Orion Group has benefited from a rise in activity in the oil and gas sector globally, and its clients include Shell Expro, Nexen, Technip, BP International, Talisman, Total, and Wood Group.
In January, Orion announced it had secured new contracts worth £100 million over five years with Canadian energy giant Nexen Petroleum to provide manpower services for its Golden Eagle project in the North Sea.
Orion also agreed a three-year extension of an existing recruitment contract for Nexen Petroleum's Aberdeen, London and offshore installations.
Both contracts were reported to be worth around £20 million a year for Orion until 2017.
Then in May, Orion announced a four-year enterprise framework agreement with Shell to provide technical manpower to Shell’s business units and projects globally.
The value of that deal is thought to be in the region of £75 million.
Alan Savage, group chairman of Orion Group, said: “The group’s performance for 2011 shows that the business has continued to go from strength to strength.
“And we anticipate another healthy financial year in 2012.
“Already we have experienced steady growth across all of our regions worldwide after securing a number of major contracts.
“New business wins have included Nexen Petroleum UK Ltd and Shell, both of which will help us towards achieving our turnover targets for next year of £360 million.”
Orion Group provides permanent and contract staff to organisations across the world and has up to 3,500 personnel in the UK and 1500 worldwide on assignment at any one time.
It employs more than 340 staff across 33 worldwide offices including Australia, Singapore, PNG, Canada and U.A.E.