THREE60 Energy, a fast-growing energy services provider, has appointed Walter Thain as Group Chief Executive Officer.
Mr Thain will be responsible for leading strategic growth across the group, broadening its technical and geographic capability and extending its footprint in key energy markets.
As CEO of the North Sea business for THREE60, he has played a critical role in the development of the group, since joining in March of this year.
A senior industry leader with nearly three decades’ experience, Mr Thain joined THREE60 from Petrofac, where he held key roles in the UK and UAE, most recently as Managing Director, West for Engineering & Production Services.
THREE60’s aim is to deliver value adding services for owners, developers and operators of energy assets. The group offers lean, fit-for-purpose technology driven solutions, in subsurface, wells and facilities from exploration through to decommissioning.
Allister Langlands, Chairman of THREE60 Energy, commented: “I am delighted to announce the appointment of Walter as the Group CEO. He has demonstrated throughout his career the ability to help customers deliver more for less and develop new models of service delivery that maximise efficiency and recovery from producing basins around the world. Walter has already made a significant contribution to the development of THREE60 Energy since joining earlier this year, and I look forward to supporting him as he builds further on the early success of the Group.”
Since joining THREE60, Mr Thain has overseen the acquisition and integration of Ridge in Norway and played a key role in the development of the group’s multi-discipline offering to customers in both the UK and Internationally.
At Petrofac, he was responsible for growth and regional delivery across engineering, operations, decommissioning and training services within Europe, North Africa and the Americas, together with the global delivery of specialist service capabilities including well engineering and asset management. Prior to this, he held senior engineering and leadership positions with McDermott Engineering, delivering both brownfield and greenfield engineering projects. Walter also served as a director on the Oil & Gas UK board, as well as Chairman of the Oil & Gas UK efficiency task force.
About THREE60 Energy
THREE60 Energy is a fast-developing energy services group whose aim is to deliver a more complete solution for owners, developers and operators of energy assets. Its strategy is to build a portfolio of oilfield services operating across the entire asset life cycle within the oil and gas industry both onshore and offshore. THREE60 has already acquired capability across different geographies in Reservoir Engineering (Leap Energy), Well Engineering (Ridge), Facilities Engineering (Step Change Engineering) and is in active discussions with a number of companies interested in participating in the group.
About LEAP Energy
LEAP Energy was founded in 2008, with operated offices in Malaysia and Australia. The core activity is to provide subsurface technical consulting and software development services globally to Independent Oil Companies, National Oil Companies and Government bodies. Through a team of 100 technical staff, the company offers expertise in difficult hydrocarbon recovery, fractured reservoirs, mature field production optimization, enhanced oil recovery and unconventional resources such as coal bed methane. Besides a core competence in reservoir studies, LEAP Energy is also active with Advisory Services, supporting M&A activities, asset and corporate valuation, and production optimisation and flow assurance. Since becoming the THREE60 Energy founding company, the company has established a capability in operational geoscience, seismic project management and technical HSE, supporting both oil & gas and renewables projects.
About RIDGE
Ridge was established in 2011 and specialises in the provision of engineering and consultancy services in the subsurface, drilling & wells, subsea and facilities disciplines mainly in the Norwegian North Sea. The company has established a sound track record with its client base including around 20 major oilfield Operators, with projects delivered by a team of more than 110 specialist engineers. The business completed the acquisition of Ocean Maxwell in December 2017, adding engineers with subsea, subsurface and facilities capabilities and enabling Ridge to provide a wider spectrum of services to clients in Norway, Denmark, UK and Singapore.
About Step Change Engineering
Step Change Engineering was established in 2014 and provides design, engineering and project management services in relation to brownfield projects and the repair and minor modification of topside Oil and Gas facilities in the UKCS. It currently has a team of approximately 50 experts based in Aberdeen, covering all engineering and project management disciplines in the sector.
