SRK chops energy arm

SRK Consulting on Friday announced the sale of its Energy Division in an effort to consolidate its major mining-related operations.

Angie Tomlinson

The Energy arm consults in the areas of systematic calibration, integration and interpretation and non-seismic and seismic datasets in the petroleum exploration industry.

The Unit has been sold to new company - FrOG Tech (From Oil to Groundwater) - which is operating out of SRK’s former office in Canberra.

SRK managing director Dr Peter Williams said “the sale allows SRK to focus exclusively on expanding our core mining business and to develop additional services, particularly in the major and expanding east coast markets”

“The sale will result in an immediate revenue reduction of about 15% to the SRK group, but that the investment of sale proceeds into the engineering, resources and geophysics divisions of the core mining business units would result in a three-fold increase in revenue over the projected revenue from the Energy division”

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