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Stockton-based engineering company px Group has acquired a majority stake in an energy and industrial services firm which provides well management services to the oil and gas sector.

Headquartered in Aberdeen, NRG Well Management offers a managerial and technical package that covers the whole exploration, appraisal, development and P&A life cycle.

The acquisition is designed to bolster px’s service offering to new and existing clients.

Geoff Holmes, chief executive of px Group, said:

“NRG Well Management brings industry-leading expertise to px Group, extending our capability to the full upstream asset lifecycle.

“NRG is not only sizeable and reputable, but the company has significant potential for growth with its wide range of operator clients across the North Sea.

It is known worldwide for quality and consistency in delivery, which is something we at px Group pride ourselves on.”

Daniel Mackay, managing director of NRG, added:

“We are delighted to be joining the px Group, adding to px’s expertise across the asset lifecycle and are very much looking forward to the growth opportunities this brings.”