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SeaEnergy wins $1m contract to provide 360-degree images

SEAENERGY has won a contract to provide 360- degree images of an oil and gas facility off Mexico for the national oil company worth around $1m (£590,000).

Aberdeen-based SeaEnergy's Return To Scene business will provide the images of a processing facility on the Ku-Maloob-Zaap field as part of a visual asset management system it will supply to Petróleos Mexicanos (Pemex).

The images generated by Return To Scene's system can be used to plan work that needs to be done on offshore assets without having to travel out to them.

The award is a significant success for SeaEnergy, formerly Ramco Energy.

Mexico has a big oil and gas market, in which international services firms see good growth prospects. The government is opening up its oil and gas industry to international players with the aim of boosting production.

SeaEnergy's local partner, Petrotecnica, held out the prospect the firm could win more business from Pemex.

Its chief executive, Marcelo Dorantes, said: "As energy reform in the oil and gas industry continues to evolve and accelerates new business opportunities in the region, we are enthusiastic for the future of this key relationship with Return To Scene. We will continue to work to establish R2S as an institutional system for the whole of Pemex."

Led by chief executive John Aldersey-Williams, SeaEnergy bought Return To Scene for £10.1m in August 2012 under its plans to build a group of energy services business.

It paid an initial £5m. In the 18 months following the acquisition of the company, Return To Scene hit the targets required to trigger earn out payments totalling £5.1m.

Return To Scene recorded earnings before interest, taxation, depreciation and amortisation of £2.8m in the year to February.

The business has adapted crime scene imaging technology to make 360-degree maps for use in the oil and gas sector. Its products have been used by giants including BP and Chevron. They have been used in the North Sea and the Gulf of Mexico. SeaEnergy also runs a ship management business. This recently won a contract to manage vessels in the North Sea on behalf of Singapore's Otto Marine.

SeaEnergy is tendering for contracts to provide purpose-built vessels that could be used by services firms to access offshore wind farms.

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