Aquaterra Energy appoints new financial director

Aberdeen-based global offshore engineering solutions provider Aquaterra Energy has appointed Nick Hawkes as its new financial director as the company gears up for service expansion.

Mr Hawkes will be responsible for providing effective financial leadership and support to the business.

Mr Hawkes has more than four years’ experience in the oil and gas industry and joins Aquaterra having spent nearly 20 years with Babcock International Group where he latterly held the position as Financial Director for 15 years.

Mr Hawkes graduated from Bournemouth University in 1987 with a BA (Hons) Business Studies.

His appointment follows the announcement in July that Aquaterra Energy was the first company to secure a multi-million pound investment from EV Private Equity as part of its pledge in 2016 to invest $200 million in North Sea businesses with new technologies and high growth potential.

The independent private equity firm confirmed it was seeking to invest between $10 million to $40 million in each company.

George Morrison, managing director of Aquaterra Energy, said: “Nick’s appointment marks an important development as the company shapes itself for future growth. His experience will bring important skills to our top management team.”

Nick Hawkes added: “I joined the company because I saw a real opportunity to lead and support the growth of the business through the delivery of effective financial leadership and governance. I have 15 years of experience and skill to bring to what is a dynamic and expanding international company.”

Aquaterra, which has operations in Aberdeen, Norwich and Cairo, provides riser analysis, riser systems, offshore structures, repeatable products and it’s integrated WellStart specialism to the global oil and gas industry.

The company recently designed, fabricated and installed a new Sea Swift platform for PICO Petroleum Integrated Services, the lead contractor for the Amal field in the Gulf of Suez, offshore Egypt.

In another multi-million pound contract, Aquaterra is supplying high pressure riser equipment for a subsea abandonment project in the central North Sea.

The company is also seeing growing interest from operators in its specialist ‘WellStart’ service, which minimises third party interfaces in early stage well construction, providing the expertise to overcome the technical and economic challenges in setting out the first phase of the well.

Mr Hawkes joins newly appointed Chairman, Alan Wilson, along with non-Executive Directors Mark Boyd (co-founder) and Gavin Prise (former CEO of Expro), all of whom took up their posts following the EV investment deal.