Offshore services supplier OEG is making waves in Aberdeen with the grand opening of its new global headquarters. The company, now employing 250 individuals in the area after a series of acquisitions, is setting its sights on doubling its annual revenue to £800 million within the next five years. The strategic move to the Stratus Building at ABZ Business Park in Dyce represents a significant investment in accommodating up to 100 staff members, with others continuing operations from various bases in Aberdeenshire.
Year of Exceptional Growth
OEG has experienced a year of remarkable expansion, increasing its workforce by 300 to over 1,300 employees across 65 locations globally. The Aberdeen team alone has grown by approximately 20% during this period. This growth has been largely fueled by the company’s diversification into the offshore wind sector, supported by US investment group Oaktree Capital, which acquired a controlling stake in the business in March 2023, backed by substantial financial support from a syndicate of banks.
Strategic Vision
John Heiton, OEG’s chief executive, expressed his enthusiasm for the new headquarters, emphasizing the company’s long-standing commitment to Aberdeen. He highlighted the strategic importance of the move in aligning with OEG’s ambitious growth targets for the coming years. With a clear strategy and a strong leadership team in place, the company is poised to achieve significant revenue milestones, further solidifying its position as a key player in the energy sector.
Market Leadership and Expansion
OEG’s traditional offshore division remains a dominant force in the supply of cargo carrying units and related equipment. However, the company’s renewables division, now responsible for over half of its revenue, has experienced substantial growth through strategic acquisitions and expansion into key markets. With a focus on delivering specialized solutions to support offshore wind farms, OEG’s renewables division is rapidly expanding its global footprint and establishing a strong presence in emerging markets.
In an industry characterized by innovation and rapid evolution, OEG’s strategic investments and commitment to growth position it as a key player in the energy sector. As the company continues on its growth trajectory, its new headquarters in Aberdeen symbolize a significant step towards achieving its ambitious revenue targets and solidifying its position as a global leader in offshore services and renewables solutions.
