Reservoir Group Appoints New Well Intervention and Measurements Managing Director

(March 15, 2012) – Reservoir Group announces the appointment of Fraser Louden as managing director of its well intervention and measurements business.

Acting as the Group management team’s interface with its growing portfolio of companies, Mr. Louden joins from an executive advisor role at FMC Technologies and previous expertise at READ Well Services Ltd, where he held key roles including chief executive officer, vice president, business development manager and R&D manager.

A former chief executive officer of the READ ASA group, Mr. Louden also held key appointments covering regions including the North Sea, USA, Nigeria, China and Brazil.

His appointment is a statement of intent from Reservoir Group to build on its growing success throughout 2012 and beyond. It follows the appointment of a new chief operating officer and a 60 per cent rise in revenue during the previous year.

In his new Aberdeen-based role, Mr. Louden will provide support, direction and assistance to the intervention and measurements member companies, guiding the integration of the Group’s specialist firms and leading the delivery of a clearly focused and strategic sector of the Reservoir Group.

Mr. Louden has a wealth of experience in company management, business development, marketing, sales and strategy planning and implementation.

Reservoir Group chief operating officer, Wade McCutcheon, said: “Fraser’s appointment is a key strategic move and we welcome him to the Group as managing director of the well intervention and measurements businesses. His experience of leading small and large organizations through transitional periods provides him with all of the necessary tools to help our intervention and measurement companies realize their full potential.

“Beyond his role as a vital interface between the Group’s management team and members, Fraser brings a dynamic and hands-on approach aligned with our core strategies. With confidence in the industry high and development opportunities growing further still, Reservoir Group remains eager to work with the best in the business to ensure our members and our customers continue to enjoy success.”

Mr. Louden said: “With a clear identity and focused strategy, the intervention and measurements members of the Group will become an even more visible proposition in their market sector – delivering the goal of becoming clear owners of that segment.

“My intention is to build on the Group’s continued success, assisting with the delivery of strong financial results and the globalization of the smaller member companies. A top priority will be enabling our intervention and measurements firms to gain confidence in taking a more aggressive attitude towards growth.

“Reservoir Group’s philosophy of its members retaining autonomy while becoming a part of a larger organization is both unique and interesting. This role will provide a visible and rewarding opportunity to help guide the intervention and measurements companies to reach their full potential.”