AN ABERDEEN headquartered oil and gas consultancy is heading towards a decade in business with continued growth and industry recognition.
Accord Energy Solutions, which was launched in 2010 as the first employee-owned start-up business in Scotland, is gearing towards a record £6million turnover in its tenth year.
The business, specialising in oil & gas measurement and hydrocarbon accounting has seen a solid 5-6% growth year on year and recently invested a six-figure sum to purchase a new 3308sq ft HQ in the city’s Carden Place.
Operating for clients in the North Sea and global markets, Accord Energy Solutions was launched by three founding directors and now has a team of 33 with plans in place to set up an operation in Australia in 2020.
The business has just been recognised in the UK Employee Ownership Awards, securing ‘Highly Commended’ as Employee Owned Business of the Year.
Fifty per cent of the company is held by an employee ownership trust, ensuring that key decisions are taken in the long-term interests of the staff. A further 21% is owned by employees through a share incentive plan allowing staff to buy and sell company shares in a tax-efficient manner. The founding directors hold the remaining shares.
Director, James Arthur, from Accord Energy Solutions, said: “Our objective is to build a fair and open corporate culture. We believe in aligning the interests of individual members of staff and the company. Doing so allows us to deliver peerless expertise and patient continuity of service to our customers. Employee ownership is fundamental to us and we see the award as an indication that, together, we’re getting something right.”
Accord Energy Solutions operates in a niche market within the oil and gas industry. Consulting on the measurement and allocation of hydrocarbon products, it helps customers manage production data and track ownership from the reservoir to the point of sale. It also designs and implements related computer systems. Around 90% of client projects support the North Sea with the remainder across the globe, including Norway, the middle east and Australia.
With substantial contracts in place into 2021, Accord Energy Solutions is set to increase the UK team and launch an Australian operation in the coming 12 months.