Spread Betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.3% of retail investor accounts lose money when trading Spread Betting and CFDs with this provider. You should consider whether you understand how Spread Betting and CFDs work and whether you can afford to take the high risk of losing your money

UK firm Penspen inks 37 new contacts worth £39.8 million in Q2

oil rig

UK energy services firm Penspen has signed a clutch of deals £39.8 million worth during the second quarter of this year.

Following positive first quarter results, the engineering, project management, asset management and integrity services firm said it inked more than 27 new contracts before the end of Q2.

Penspen signed more than 13 new contracts in the UK and Europe across the Asset Integrity, Asset Management, and Engineering service lines including a large-scale, low-carbon hydrogen project in the UK.

The firm also signed upwards of 14 contracts across the Middle East, North America and Latin America, including a ‘high-value’ pipeline modelling study in Peru.

Penspen executive vice president for the Middle East, Africa and Asia Pacific Regions, Neale Carter, said: “Our commitment to the Middle East as one of our core markets combined with the strengths of international and local market experience, helps us deliver key benefits to new and existing energy projects.

“The team is doing an outstanding job by providing deep engineering knowledge and building strong relationships with our clients, and it is encouraging to see the growing demand for our engineering and project management services as a result.”

The company, founded in the UK in 1954 under the name Spencer & Partners, is now a member of the Dar Group as its third member acquisition in 1990.

The Dar Group has 18,600 employees across 297 offices in 60 countries.

Founded in 1986 with Architecture and design firm Perkins&Will being the first to join, the group now contains; Penspen, T.Y.Lin International (US civil and structural engineering company),  Landrum & Brown (Airport and aviation planning consultancy firm based in the US) and Integral Group (US building system design and energy analysis services company).

Penspen chief executive Peter O’Sullivan said: “We are dedicated to helping our clients improve access to safe, secure, and clean energy supply by providing them with integral knowledge to effectively manage their assets now and in the future

“Penspen has decades of technical expertise in supporting global energy companies develop and safeguard their assets – whether in construction such as delivering natural gas for power generation or repurposing existing assets.

“We have the people and skills to enable our clients to pave the way for the future of the energy industry, as we move towards net zero.”

Recent guides

Easy To Open An Account

Reliable Platform

With our platforms you can trade wherever you are – at home, in the office, or when you’re out and about.

0% financing on short index positions

Some companies will charge you to hold a short index position. At Spread Co we won’t.

Powerful Charting

Spread Co charts are powered by TradingView Inc.

Sign Up For A Demo Account Create A Live Account