Oil and gas industry veteran Stuart Ferguson has joined the board at Aberdeen firm isol8.
Mr Ferguson, chief executive of FrontRow Energy Technology Group, is now an independent non-executive director at the oilfield technology company.
We are working on several exciting technology developments which have application across the entire well lifecycle.”
He has more than 35 years of experience, ranging from start-ups to large publicly traded companies, including operators and energy services firms, in executive and non-executive roles.
His oil and gas career started at BP, where he spent nearly six years as a petroleum engineer in the UK and Netherlands.
He also worked for Expro in Aberdeen before joining the senior management team as technical services director at Petroline Wellsystems.
He then spent another year at Expro, as marketing director, before a string of senior roles at Weatherford.
Spell in the hotseat at Flux
From April 2010 to March 2016 he was managing director at Flux Oilfield Technology.
A raft of non-executive roles followed, before he joined Aberdeen-based FronRow as CEO on its formation in early 2017.
FrontRow is a technology focused oil and gas services group with investments in firms including Well-Sense, Downhole Tools International, Unity and ClearWELL Oilfield Solutions.
Isol8 is thought to be the only company to use underwater soldering to create metallurgically bonded alloy barriers to seal off oil and gas wells.
Looking forward to being part of its boardroom team, led by chief executive Andrew Louden, Mr Ferguson said: “The use of alloys downhole is on a rapid growth trajectory.
“Isol8 has laid a competent foundation to quickly scale the business to satisfy customer demand.
“We are working on several exciting technology developments which have application across the entire well lifecycle.
“The potential for alloy isolation products to significantly reduce well construction and well abandonment emissions is also noteworthy.”
His insights will strengthen our business as we scale up to address the global customer demand for our alloy barrier products.”
Andrew Louden, chief executive, isol8
Mr Louden said: “Stuart is an accomplished and transformative executive who brings a wealth of oilfield technology commercialisation experience.
“His insights will strengthen our business as we scale up to address the global customer demand for our alloy barrier products.”
Investor BGF took a minority stake in isol8 in 2021, ploughing £3.5 million into the business to support its long-term growth plans.
Big North Sea savings predicted
Some of the cash was aimed at developing the company’s zero-emissions product portfolio and expanding its services into the wellbore construction sector.
It was estimated the successful deployment of isol8’s technology could unlock savings of up to £7m for platform and subsea well abandonments.
This was expected to translate into potential savings of as much as £5 billion in North Sea oil and gas decommissioning costs.
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