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Osbit eyes offshore wind expansion as part of new group
Northumberland, UK-based offshore engineering company Osbit has joined a new offshore wind group poised to invest £250M (US$344M) across the offshore wind lifecycle by mid-2022
Osbit, which employs over 120 people across its Port of Blyth and Riding Mill sites, is now a founding member company in Venterra Group, which has announced its public launch. The group is led by Ayman Asfari, former chief executive of oilfield services company Petrofac.
Now part of the new group, Osbit is launching a growth campaign to significantly expand its workforce with a range of highly skilled positions.
Venterra Group, which is UK-based, is an offshore wind energy business focused on helping the world’s energy transition through wind power. The group aims to become a leading offshore renewables energy services champion. Osbit joins as one of three initial member companies selected for offering best-in-class services and substantial growth capability. The other companies were not disclosed.
The group’s primary focus is to become a large-scale services player in this rapidly expanding renewables market by acquiring, partnering and investing in businesses across the lifecycle of offshore wind development. However, it will also contribute to other forms of energy, particularly those supporting energy transition, such as well intervention. Venterra’s objective is to support and enhance member companies, while retaining each company’s brand, culture, and independence.
Osbit joint managing director Brendon Hayward described Venterra Group as “a hugely promising enterprise which is fully aligned with Osbit’s vision of enabling the energy transition.”
Mr Hayward said the partnership was many months in the making and is a great fit for Osbit. “Venterra understands and appreciates our business and its culture and is fully equipped to take Osbit to the next level,” he said.
Osbit joint managing director Robbie Blakeman said, “Our team is very excited to enter a next chapter as part of Venterra. This opportunity will strengthen our business and our team, as well as supercharging our ability to develop highly innovative technology to enable the energy transition. In turn, this enables us to grow and increase our service offering across the global wind projects we are already active on in the North Sea, but also planned developments in the US and Asia.”
Mr Asfari, who is chairman of Venterra Group said, “Offshore wind energy is growing fast around the world and is essential to the global energy transition. But there is a supply chain crunch – the services industry supporting wind are highly fragmented and need greater scale and additional capital to meet demand from governments and developers with ambitious renewable energy commitments.
“Venterra has been created to help meet this challenge. We are bringing together companies with the right experience and specialist skills and providing them with funding and support to create a services champion with the scale and breadth required by the market. This will require us to develop talent and adapt existing engineering and technical skills to create a highly specialised global workforce helping deliver the energy transition. We aim to create a new force in the offshore wind industry which will be a world-class industrial company."
Osbit, which is already a significant player in offshore wind equipment areas including foundation installation, trenching, and access, will benefit from greater investment capability, accelerated growth, and a wider range of expertise as part of Venterra Group. In due course, it is Venterra Group’s intention to seek a public listing for its shares, to maintain its growth trajectory.
Osbit has initiated a large-scale recruitment campaign. The company is seeking to significantly expand its engineering and project support teams in response to the huge growth in offshore wind. The company will be sharing details on further developments in the coming months.
Riviera Maritime Media’s Offshore Wind Journal Conference will be held in London 16 November. Register your interest and access more information here
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