RSK acquires global energy and carbon capture specialists Axis
Axis, the UK’s largest independent energy consultancy, which provides exploration and production, decommissioning and carbon capture and storage (CCS) services to the global energy industry, has been acquired by RSK, a world leader in the delivery of sustainable solutions.
Serving the sector since 2001 and headquartered in Aberdeen, Scotland, Axis has worked on 2400 projects in 70 countries around the world and has offices in the Middle East, Norway and Kurdistan. The company has a turnover of £24 million.
Axis boasts a team of more than 100 specialists, with expertise in subsurface, well and facilities services. Axis’ CCS expertise kicked off with a significant project to identify potential UK carbon storage sites to store industrial CO₂ emissions. CCS is widely considered to be the only option to reduce atmospheric CO₂, and this 12-month project was funded with £2.5 million from the Department of Energy and Climate Change.
The project identified 20 specific CO₂ storage sites (from a potential 579 UK sites), which together represent the tip of a very large strategic national CO₂ storage resource potential, estimated to be around 78 GT (78,000 million tonnes). The top 15% of this potential storage capacity would last the UK around 100 years. Five of these sites were then selected for further detailed analysis given their potential contribution to mobilise commercial-scale CCS projects, de-risking these stores for potential future developers.
UK energy transition activity has significantly increased, and today Axis is delivering a broad range of CCS and hydrogen studies for multiple UK and international clients, including store screening and feasibility studies, strategy development plans, pre-FEED technical studies, storage development plans and licence applications.
Axis Chief Executive Officer Jim Anderson (pictured above), who will continue to lead the business, said: “We are delighted with the acquisition by RSK, which is a great fit for our business. To be part of a market-leading, forward-thinking engineering and environmental business with an international footprint is a very positive step for us. RSK shares common core values that are important to Axis and is very much focused on its people. This will enable us to grow the business through the RSK international network and will provide an excellent platform for further growth in the low carbon and energy transition areas of the business, providing opportunities for the company and our talented workforce.”
RSK Group Chief Executive Officer Alan Ryder (pictured in header) said: “Carbon capture and storage is a crucial technology on the journey to net zero, which is an increasingly emphasised priority for many nations, including the UK. RSK, with its commitment to the UN Sustainable Development Goals, is conscious of the need to support industries evolving to introduce new technologies that support our universal climate goals. The RSK Group looks forward to working with Axis in supporting this transition, particularly as it relates to the energy sector.”
As RSK continues to deliver its ambitious growth strategy, it now comprises around 180 companies, employing 12,000 people. The Group’s annual turnover at the end of FY22 was £796 million.
The acquisition adviser was Piper Sandler.
