Oil and gas firm Nexus turns focus towards software

Oil and gas risk mitigation company Nexus has been acquired by Aberdeen-born businessman Mark Cavanagh and is now trading as NexusAB, with a focus on the development and sales of bespoke software aimed at the sub-surface sector within the oil and gas industry.

With 10 employees and a turnover of £1m, the company is projecting to reach sales of £3m in the next three-to-five years.

It is reported that completion of a successful software development and maintenance contract with BP, in addition to a contract to deliver assurance engineering services to Carigali Hess in Malaysia, has paved the way for achieving these growth targets.

NexusAB specialises in developing wells programmes that increase non-productive time ratios and reduce equipment failure through the use of its externally hosted SaaS (Software as a Service) tools, which provide technical audits, supply chain management and accessibility from anywhere in the world at any time via web browser.