Business & Economy
px acquires majority stake in oil and gas project management company
November 27, 2019
Energy infrastructure business px has acquired a majority stake in Camm-Pro Ltd, an Aberdeen-based company specialising in project management for the oil and gas sector.
Established in 2016, Camm-Pro is known for structuring and delivering development, engineering, construction management and assurance services to independent oil and gas exploration companies.
The company has a strong track record of devising best-value solutions and reducing overheads through rigorous change management. It counts the likes of Hess Denmark and Ancala Midstream Acquisitions Ltd as clients.
px currently operates the St Fergus Gas Terminal, the Ineos Breagh Alpha platform, Teesside Gas Processing Plant and power stations on Teesside, in Cumbria, Lincolnshire and Wales.
Taking a majority share of Camm-Pro is the latest acquisition for the growing Stockton-based business.
Geoff Holmes, CEO of px said, “We have achieved remarkable growth over the last few years across a number of industrial sectors.
“The investment in Camm-Pro is aligned to our strategy of strengthening our onshore and offshore capability and further demonstrates the business’ ambitious growth plans in this sector, through a lean and focused approach.”
Simon McBain, director with Camm-Pro, added: “Experience has shown that even when well defined and detailed, implementation of a project framework can, in practice, create conflict and deflect from delivery.
“We provide experienced independent management teams that develop and drive an execution strategy to its proper conclusion.
“We look forward to providing this expertise for px as it expands its reach into the oil and gas sector.”