Steve Kent joins FrontRow Energy as CEO
Aberdeen-based FrontRow Energy Technology Group has appointed Steve Kent as its new CEO.
The move strengthens the board as the company, which includes Unity, DTI, Well-SENSE and ClearWELL, prepares for significant international expansion.
Mr Kent joins forces with former CEO Stuart Ferguson and Graeme Coutts, who have taken up the positions of executive chairman and executive director respectively, as well as Neil McGuinness, Frank Summers, Colin Smith and Richard Pugh who continue in their existing roles.
Mr Kent is an accomplished C-Suite executive with over 30 years of entrepreneurial leadership in the global oil and gas service sector. His early career was spent in international technical and management roles at Schlumberger, Weatherford and Petroline. Subsequently he built a strong track record in high-growth business management, strategic innovation, successful investment and M&A activities, and co-founded the energy services investor EPI-V in 2007.
He joins FrontRow following a tenure as executive chairman at Deep Casing Tools having recently facilitated its successful acquisition by the US corporation Drilling Tools International. Under Mr Kent’s leadership, Deep Casing Tools was recognised as one of the fastest growing UK technology companies in the Deloitte Fast Fifty Awards 2023 and won a Kings Award for Export earlier this year.
Since 2017, FrontRow has achieved a fourfold increase in revenue and a sixfold increase in gross profit. With a 180-strong workforce and a growing international client base, the company is poised for further expansion. Key priorities include innovation, product development, strategic partnerships, internationalisation, and growth in decommissioning activities.
Mr Kent said: “FrontRow has an exceptional portfolio of energy technology businesses with huge potential for value creation. My focus will be on creating value through international growth, market positioning and stakeholder connectivity.
“Here in Aberdeen the engineering talent is exceptional and we need to anchor these skills long-term in the region. There is a general perception that the North Sea oil and gas industry is in a state of steady decline, but the reality is that Aberdeen is a global city servicing global energy demand, with an exciting multi-decade opportunity in decommissioning ahead. This is a key decarbonisation mechanism, but it requires talent, technology and investment.
“Technology incubation has transitioned from the domain of operators down the supply chain, and is now primarily championed by tech start-ups, but the missing part of the equation is access to growth capital. FrontRow will continue to invest, grow and drive value creation across its portfolio, collaborating with stakeholders to help tackle some of the industry’s biggest challenges to date.”
Mr Ferguson explained: “The Group’s growth and our ambitions for the future are presenting new opportunities and challenges so the time is right to add to the leadership team.
“I’d like to emphasise this is an additive approach, as although our titles have changed, Graeme and I will continue to work as we did before.
“Adding Steve’s outstanding vision, talent and leadership skills will support our growth and amplify further success.”