OEG delivers strong first-half 2025 performance, on track to achieve $1bn revenue by 2030
OEG, a leading global offshore energy solutions business, has delivered a strong first half in 2025, underpinned by a series of landmark contract wins and strategic growth initiatives. The company reported total H1 2025 revenue of $267 million, reflecting robust performance across its complementary divisions, expansion into key markets, and an enhanced service offering that continues to strengthen its position with clients worldwide.
John Heiton, OEG chief executive.
Among the key strategic highlights, the Aberdeen-headquartered firm completed the acquisition of Trinity Rental Services, OEG’s 17th acquisition in five years, significantly strengthening its US presence and fleet capacity. It secured a multi-million-pound integrated service contract for the Inch Cape offshore wind project, one of Scotland’s largest offshore wind developments and opened a new Edinburgh office equipped with state-of-the-art technology to monitor wind farm operations around the clock.
OEG remains focused on achieving its $1 billion revenue target by 2030, combining organic expansion with strategic M&A. It has invested in new facilities and assets worldwide, including its new global headquarters in Aberdeen, UK, and grown its headcount by over 20% since the start of 2025 to circa 1,500 employees. It also recently carried out a brand repositioning exercise to support the integration of all its acquisitions, going to market as one brand with united capability and strength, all under ‘OEG’.
OEG office manager Toto Sanderson and CEO John Heiton outside the firm’s HQ in Dyce.
Other operational highlights in H1 2025 include:
- Securing a significant contract award for cargo carrying units (CCUs) with an oil major in the Caribbean
- Increasing its global fleet of CCUs to over 80,000
- Delivering a new vessel for the Hai Long wind farm in Taiwan and securing its first Japanese project on the Hibikinada offshore wind farm
- Winning a subsea cable installation contract for an offshore wind development project in North America
- Continuing as a key partner with Vodafone and Three at the Sizewell C nuclear power station construction site
- Securing a three-year crane and lift servicing contract with Orsted to support six wind farms in Germany
- Growing track record for OEG’s all-electric SEAJET E-CFE system, a step change in subsea excavation and trenching technology
- Achieving a 7% reduction in Scope 1 and 2 emissions while revenues increased, supported by electric vehicles, rooftop PV systems, and renewable energy across its offices
John Heiton, Chief Executive Officer, said:
“OEG continues to go from strength to strength with significant strategic growth achieved through H1’25. This success is underpinned by robust financial performance under a strong unified ‘One-OEG’ brand, securing key contract wins across all our global operations in both our cargo logistics and renewables segments. This highlights the strength of our diversified, business-critical services and products, catering to traditional offshore oil and gas, renewables, and new energy markets.
“I want to thank our employees for their ingenuity and commitment, and our shareholders for their support as we deliver on our growth strategy. These achievements position OEG exceptionally well for the remainder of 2025 and set the foundation for strong performance in 2026.
“Our global reach and diversified portfolio give us the resilience to respond quickly to client needs wherever they operate. We are confident in maintaining momentum and delivering on our ambitious targets in the years ahead.”
“We are confident in maintaining momentum and delivering on our ambitious growth plans.”