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Roy
Franklin Joins TSMarine as Company Chairman
06-25-2008
Aberdeen based Subsea oil and gas
service company, TSMarine (Contracting) Ltd has announced the appointment of Roy
Franklin OBE as company chairman with immediate effect.
In less than four years, TSMarine has experienced astounding growth. In 2007 the
company reported an estimated turnover of £55 million and already this is set to
increase to £110 million in the next year.
The appointment of Roy Franklin as company Chairman is designed to help drive
this growth, positioning TSMarine as a key player in the global market.
Recognised as a leading figure within the oil and gas industry, Mr Franklin is
currently the non-executive chairman of AIM-listed companies Bateman Litwin N.V.
and Novera Energy. He is also a non-executive director of StatoilHydro A/S,
Santos Limited, the Australian-listed energy company, and Keller Group plc, the
London-listed specialist ground engineering company.
With a broad range of management experience, Mr Franklin is most recognised for
his success in previous executive posts, those of which include Paladin
Resources plc, where he was chief executive from 1997 to 2005 and Clyde
Petroleum plc, where he was group managing director from 1993 to 1997. Prior to
this he was with BP for 18 years, latterly heading up BP Exploration's
acquisitions and divestments group.
Mr Franklin was also chairman of BRINDEX, the Association of British Independent
Oil Exploration Companies from 2001 to 2005 and a member of the joint British
oil industry and government task force PILOT, from 2002 to 2005.
In 2004, he was awarded an OBE in recognition of his services to the British oil
and gas industry.
“Roy Franklin's appointment will further strengthen the board and bring
extensive experience to TSMarine particularly with regard to international and
strategic global development matters,” said Alasdair Cowie, CEO of TSMarine.
“Roy has over 35 years experience in the industry and his proven ability to
identify business development and growth opportunities in the international
marketplace, along with his extensive track record of managing and growing
companies, will be invaluable to TSMarine.”
Commenting on the announcement, Roy Franklin
said:
“I am delighted to be taking up the post of Chairman at TSMarine. Since the
early 1990s there has been a high demand for subsea well intervention services.
“The market is now maturing, meaning that there are requirements for additional
tonnage and services - which TSMarine can provide.
“As demand in the subsea market increases, TSMarine has established itself as a
leading global player in the subsea rigless intervention and decommissioning
sector. The recent investment in TSMarine by two of Europe’s leading private
equity investors, 3i and ABN AMRO underlines the confidence in TSMarine’s
continued growth prospects and I am delighted to be in a position to help guide
the global development of such a dynamic company.”
Established in 2004, TSMarine is a subsea oil and gas service provider, offering
a range of rigless well intervention, decommissioning and construction support
solutions to the subsea oil and gas industry.
In 2007, TSMarine reported turnover of approximately £55 million and has over
120 employees worldwide. In January 2007 TSMarine was boosted by a major
£53million ($104m) investment by 3i and ABN AMRO Merchant Banking, two of
Europe’s leading investors. The company expects to double its turnover and
workforce by 2009.
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