Energy consultancy firm Xodus Group has announced that it has acquired Dubai-based Prime Energy as part of a major expansion drive in the Middle East
This is the first acquisition the company has made in the region following the launch of its Dubai operations in 2012.
Prime Energy provides management and advisory services spanning the upstream oil and gas business cycle, including field development and drilling. It also specialises in providing integrated technical and commercial solutions to the global oil and gas industry.
Colin Manson, CEO of Xodus Group, said, “Prime Energy is a great fit for Xodus and with its focus on wells and drilling, it completes the Xodus offering. We now have the full complement of wells, subsurface and surface services to offer our Middle East clients. We hope to make the Middle East operational base one of the largest in the company. Our sights are set on expanding the business in the Middle East, Africa, India and Asia Pacific. Prime Energy has a strong focus in these areas which will open the door to explore further opportunities in these regions.”
Prime Energy’s team will be renamed Xodus-Prime DMCC, according to Xodus sources.
Peter Bradley, director operations of Prime Energy, said, “Prime Energy has accomplished strong growth and is serving a global client base with focus on East & West Africa, India and the Middle East. With our integration into Xodus Group we will be able to deliver to our clients the enhanced capabilities of the combined platforms.”
