OEG has reported first-half 2025 revenues of $267m, a 17% increase year on year, driven by acquisitions, new contracts and international expansion.
The Aberdeen-headquartered offshore energy services company said growth was underpinned by a series of strategic wins, including a multi-million-pound integrated services contract for the Inch Cape offshore wind farm in Scotland and subsea cable installation work in North America.
OEG also delivered a new vessel for the Hai Long project in Taiwan and secured its first contract in Japan at the Hibikinada wind farm. Other highlights included a three-year servicing deal with Ørsted covering six German wind farms and continued work at Sizewell C nuclear power station in the UK.
The company completed its 17th acquisition in five years with Trinity Rental Services in the US, expanding fleet capacity and strengthening its American presence. It also opened a new Edinburgh office to monitor wind farm operations 24/7 and increased its global CCU fleet to more than 80,000 units.
Chief executive John Heiton said OEG “continues to go from strength to strength” with strong growth achieved under the unified One-OEG brand.
He added: “These achievements position OEG exceptionally well for the remainder of 2025 and set the foundation for strong performance in 2026.”
OEG has grown its workforce by more than 20% this year to around 1500 employees and is targeting $1bn in revenue by 2030.