Nexus has been acquired by Aberdeen-businessman, Mark Cavanagh. The oil and gas risk mitigation company is now trading as NexusAB Ltd with a focus on the development and sales of bespoke software aimed at the sub-surface sector within the oil and gas industry.

With 10 employees and a turnover of £1million the company is projecting to reach sales of £3million in the next three to five years.

Completion of a successful software development and maintenance contract with BP and the award of a contract to deliver assurance engineering services to Carigali Hess in Malaysia have paved the way for achieving the ambitious growth targets.

NexusAB Ltd has global experience of integrating the design, equipment integrity and assurance engineering from planning to close-out in a well programme to significantly reduce safety and operational risks.

The company specialises in developing wells programmes which increase non-productive time ratios and reduce equipment failure through the use of its externally hosted software tools. These “software as a service” (SaaS) products provide technical audits and supply chain management and are accessible anywhere in the world at anytime by web browser.

NexusAB Ltd managing director, Francis Kiernan, said: “There is high demand in the global oil and gas industry for better IT systems that will support engineering services. NexusAB has been refining its software products to meet that demand with a system that up-lifts client and supplier data onto an IT architecture that gives real-time quality assurance to engineers involved in well programmes.

“We are now concentrating on demonstrating the value of our risk mitigation software which is externally hosted and acts as a single transactional hub for the specification of well services.”

Tags: Nexus Energy