PRESS RELEASES

ModuSpec re-emerges to support Middle East and Asia oil and gas drilling markets.

Specialist expertise and a full range of technical services covers all aspects of drilling rig inspection, auditing and training.

Dubai, UAE: September 24, 2019 – ModuSpec, an internationally recognised name for rig inspection services, emerges as an independent operating company following a strategic restructure of leading engineering and technical professional services organisation, Lloyd’s Register (LR).

In March, LR announced its withdrawal of its Drilling Integrity Services (LRDIS) in the Middle East and Asia Pacific regions.

Today’s announcement sees the ModuSpec name re-emerge as a privately owned, third-party independent company. It offers a full range of services covering all aspects of drilling rig inspection, auditing and training to local and international clients in the Middle East and Asia, as well as in Egypt, Uganda and Kenya. LR will continue its Drilling Integrity Services capability in the Americas, Europe and other African Countries under the LRDIS brand.

Andrew Calderwood, Managing Partner and CEO, ModuSpec, says: "At the beginning of 2019, LR unveiled its first phase of a new global strategy. This presented us with an excellent opportunity to continue to serve both existing and new clients in the Middle East and the Asia Pacific regions, providing a smaller and more focused service."

The ModuSpec board of directors includes former LRDIS and ModuSpec senior personnel, Andrew Calderwood, Andrew Goldstein and Andy Frankland. The trio, who have worked in the Middle East and Asia for more than 33 years, bring a wealth of experience and knowledge in the field of drilling integrity, and are supported by other team members who had previously worked for LRDIS and ModuSpec in the region.

The company is backed by a Middle East energy investment group.

"Clients can be assured we will operate with the same high level of quality, assurance and integrity that is synonymous with the ModuSpec and LR brands. With our premium focus on the drilling sector, there are substantial opportunities ahead in which we can also cross-sell other services and expertise driven by new operational needs. It is an exciting time of opportunity for the ModuSpec team to help shape our modern drilling world and achieve ground breaking approaches to safety and efficiency in engineering and drilling practices."

 

Andrew Calderwood, CEO of ModuSpec, announces the launch of the company’s fully operational and independent rig intake services for the Middle East and Asia markets.

About ModuSpec

ModuSpec was founded in 1986 to provide independent technical inspections of Land and Offshore Drilling Rigs and associated equipment in the Oil and Gas Industry. In 2008, ModuSpec was acquired by the Lloyd’s Register Group and was rebranded in 2013 as Lloyd’s Register Drilling Integrity Services (LRDIS). In 2019, Lloyd’s Register divested the ModuSpec entity and it is now a privately-owned company with offices throughout the Middle East and APAC regions.

ModuSpec provides independent 3rd party assurance and expert advice to companies operating high-risk, capital-intensive assets in the Oil & Gas sector. We optimise drilling operations by delivering integrity, competency assessments and training which helps clients reduce downtime by improving the safety, reliability and competitiveness of their drilling operation.

In March, LR announced its withdrawal of its Drilling Integrity Services (LRDIS) in the Middle East and Asia Pacific regions.

Today’s announcement sees the ModuSpec name re-emerge as a privately owned, third-party independent company. It offers a full range of services covering all aspects of drilling rig inspection, auditing and training to local and international clients in the Middle East and Asia, as well as in Egypt, Uganda and Kenya. LR will continue its Drilling Integrity Services capability in the Americas, Europe and other African Countries under the LRDIS brand.

Discover more at www.moduspec.com

About Lloyd’s Register (LR)

LR started out in 1760 as a marine classification society. Today, we're one of the world's leading providers of professional services for engineering and technology – improving safety and increasing the performance of critical infrastructures for clients in over 75 countries worldwide.

The profits we generate fund the Lloyd's Register Foundation, a charity which supports science and engineering-related research, education and public engagement around everything we do. All of this helps us stand by the purpose that drives us every single day: Working together for a safer world.

In a world of increasing complexity – overloaded with data and opinion - we know that our clients need more than technology to succeed. They need an experienced hand. A partner to listen, cut through the noise and focus on what really matters to them and their customers. Our engineers and technical experts are dedicated to assurance. That means a commitment to embracing new technology, and a deep rooted desire to drive better performance. So we consider our customers' needs with diligence and empathy, then use our expertise and over 250 years' experience to deliver the smart solution for everyone.

After all, there are some things technology can't replace.

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Knights Media & Public Relations
Jason Knights, Director
M +44 78 51 866 007 (UK) or +44 77 62 868 000 (Int)
E: hello@knightsmpr.com

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