News
TWMA Announces Second-Quarter Profit of $4.9million
Specialist drilling waste management company, TWMA, has posted its second quarter 2024 earnings of $19.5million and operating profit of $4.9million.
02 September 2024
Strengthening TWMA’s position as a market leader supporting operators to reduce carbon emissions and increase efficiency, the company has seen a year-on-year revenue increase of more than $2million. Global utilisation of TWMA’s RotoMill** technology, which can reduce operational carbon footprints by 50%, has reached 70% this year, demonstrating the strong demand for the offshore waste recovery system.
The Group operates globally, with a vision to turn drilling waste into a valuable resource for clients in key regions throughout the UK, Middle East, Norway, and the US.
TWMA Chief Executive Officer, Halle Aslaksen, said: “At TWMA, we are passionate about supporting operators to streamline waste management processes, so we are pleased to report that our second-quarter results demonstrate the growing demand for our solutions. Alongside the increased adoption of the RotoMill** technology, we are proud to have upheld our high standards of safety, resulting in another year of zero lost time incidents and injuries.”
Earlier this year, TWMA announced that it has closed a $62.5million Sustainability Linked Bond on the Nordic ABM in Oslo.
Qualifying for a Sustainability Linked Bond required third party recognition that TWMA’s sustainability framework is aligned with the principles issued by the International Capital Market Association. This included validation of a science-based target for CO2 in line with the 1.5-degree scenario and confirms TWMA’s position as an environmental leader within the energy industry.
All the latest from TWMA
View all news
All the latest from TWMA
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NewsTWMA Expands Middle East Operations Following $70 Million Contract Win
Drilling waste management specialist, TWMA, has announced a significant contract win with a leading UAE operator.
30 October 2024 -
NewsMeet the TWMA Team
Pierre-Marie Hinden shares his valuable insights and wealth of experience in a recent Q&A:
18 October 2024 -
NewsTWMA Opens New Office in Cairo, Egypt.
TWMA is pleased to announce the opening of its new office in Cairo, Egypt, further solidifying our presence in the country and reinforcing our commitment to the MENA region.
03 October 2024 -
NewsMeet the TWMA Team
Ryan Bowron shares his valuable insights and wealth of experience in a recent Q&A:
10 September 2024 -
NewsTWMA to Showcase Innovations at Pareto Securities' 31st Annual Energy Conference.
05 September 2024 -
NewsTWMA Announces Second-Quarter Profit of $4.9million
Specialist drilling waste management company, TWMA, has posted its second quarter 2024 earnings of $19.5million and operating profit of $4.9million.
02 September 2024 -
NewsTWMA Secures Contract Extension with Equinor
TWMA has successfully secured the first of five available contract extensions with Equinor, a major development that could extend their collaborative efforts until May 31, 2034.
13 June 2024 -
NewsTWMA Announces Continued Growth with First-Quarter 2024 Results
Specialist drilling waste management company, TWMA, has posted its first quarter 2024 earnings of $18.3million and EBITDA of $4.7million.
31 May 2024 -
NewsTWMA Announces Strong Growth Following Annual Results
TWMA posted its annual results (year ended to December 31, 2023) reporting an increase in turnover to $70.9million from $67.8million.
20 May 2024 -
NewsTWMA Celebrate Award Success for Global Impact
Drilling waste management specialist, TWMA, has been announced as this year’s Going Global winner at the prestigious Northern Star Business Awards.
22 April 2024 -
NewsTWMA Announces Closing of $62.5 Million Sustainability Linked Bond
Specialist drilling waste management company, TWMA, announced that it has closed on a $62.5 million Sustainability Linked Bond on the Nordic ABM in Oslo.
13 February 2024 -
NewsMiddle East Award Nomination for RotoMill Technology
Specialist drilling waste management company, TWMA, has been announced as a finalist in the prestigious Oil and Gas Middle East Awards for its latest generation of RotoMill technology.
06 February 2024 -
NewsTWMA named as Going Global Finalist for 2024 Northern Star Business Awards
Specialist drilling waste management company, TWMA, has been shortlisted for the Going Global Award at the 2024 Northern Star Business Awards.
22 November 2023 -
NewsTWMA to double Middle East operations following $100 million contract win.
Specialist drilling waste management company TWMA has secured a $100 million contract for a major sour gas development in Abu Dhabi.
03 October 2023 -
NewsJoin the Specialists at ADIPEC.
Join TWMA at ADIPEC in hall 8 on stand #8410 from 2-5 October in Abu Dhabi.
28 September 2023 -
NewsTWMA secures major contract with Norwegian giant Equinor.
20 September 2023 -
NewsTWMA to present innovations at Pareto Securities' 30th Annual Energy Conference.
19 September 2023 -
NewsTWMA launches RotoMill 2.0 wellsite processing solution.
07 September 2023 -
NewsTWMA secures bp Egypt contract worth $15 million.
TWMA has been awarded a contract worth up to $15 million to support a large-scale oil and gas project for bp in Egypt.
14 August 2023 -
NewsTWMA Middle East celebrates milestone of 5 million work hours without lost time incident (LTI).
TWMA, the specialist drilling waste management company, has achieved 5 million work hours lost time incident (LTI) free across its Middle East operations.
02 August 2023 -
NewsTWMA decarbonisation efforts recognised with win at Offshore Achievement Awards.
TWMA, the drilling waste management specialist, received the Carbon Reduction in Conventional Assets award at the 2023 Offshore Achievement Awards.
20 March 2023 -
NewsTWMA secures seven-figure contract with North Sea operator.
Specialist drilling waste management company, TWMA, has secured a seven-figure contract with a major North Sea oil and gas operator.
02 March 2023 -
NewsTWMA celebrates reaching 4.5 million work hours LTI free in the Middle East.
TWMA, the specialist drilling waste management company, has achieved 4.5 million work hours lost time incident (LTI) free across its Middle East operations.
02 February 2023 -
NewsTWMA named as Carbon Reduction in Conventional Assets finalist for 2023 SPE Offshore Achievement Awards.
Specialist drilling waste management company, TWMA, has been shortlisted for the Carbon Reduction in Conventional Assets Award at this year’s SPE Offshore Achievement Awards.
18 January 2023 -
NewsTWMA launches XLink™ real time monitoring and automation solution at ONS.
TWMA, has launched its new XLink™ solution, designed to provide oil and gas operators with increased automation, deeper insights and real time data monitoring to improve the efficiency of their wellsite drill cuttings processing system
31 August 2022 -
NewsDrill Cuttings Treatment Alternatives - A Comparative Emissions Assessment.
A case study assessing the CO2 footprint and NO2 emissions for different drill cuttings treatment alternatives.
02 February 2022 -
NewsTWMA reaches key UAE milestone as it achieves API Q2 Certification.
Specialist drilling waste management company TWMA has secured the American Petroleum Institute (API) Q2 accreditation for its UAE operation, the first quality management system (QMS) certification for service suppliers in the oil and gas industry.
18 January 2022 -
NewsCase Study: A wellsite processing solution proven to lower carbon emissions.
Specialist drilling waste management company TWMA highlights how its wellsite processing solution has been proven to reduce the carbon emissions of oil and gas drilling operations by 50%.
10 January 2022 -
News
TWMA’s wellsite processing solution proven to reduce carbon emissions of drilling operations by 50%.
Specialist drilling waste management company, TWMA, will highlight how its wellsite processing solution has been proven to reduce the carbon emissions of drilling operations by 50% at this year’s ADIPEC.
16 November 2021 -
NewsTWMA Celebrates 20 Years of Offshore Processing.
TWMA celebrates 20 years of offshore processing, delivering the gold standard in wellsite technology application and operational excellence.
15 July 2021 -
NewsTWMA awarded three-year extension for Aker BP's Valhall Flank Project.
TWMA, the specialist drilling waste management company, has been awarded a three-year contract extension to supply integrated waste management services for Aker BP’s Valhall Flank North and Hod B field development projects on the Norwegian Continental Shelf (NCS).
16 June 2021 -
NewsTWMA Named as Net Zero Award Finalist for SPE Offshore Achievement Awards.
Specialist drilling waste management company, TWMA, has been shortlisted in the Net Zero category at this year’s SPE Offshore Achievement Awards.
06 May 2021 -
NewsTWMA secures first contract with Spirit Energy at Grove field.
Specialist drilling waste management company, TWMA, has secured a seven-figure contract with leading exploration and production company, Spirit Energy.
25 February 2021 -
NewsTWMA’s move to new global HQ in Aberdeen to support growth plans and new technology roll outs.
Specialist drilling waste management company, TWMA, has secured new headquarters in Aberdeen to support business growth and deliver remote operations for its customers.
04 February 2021 -
NewsTWMA secures £20 million of North Sea contracts
Specialist drilling waste management company, TWMA, has secured new contracts valued at £20 million in the North Sea in the first eight months of 2019.
04 September 2019 -
NewsTWMA named as Great Company (Large) at 2019 Offshore Achievement Awards
TWMA, provider of specialised drilling waste management services, has won the Great Company (Large) Award at this year’s Society of Petroleum Engineers (SPE) Offshore Achievement Awards (OAA).
22 March 2019 -
NewsTWMA Maintains Growth Strategy, Acquires US Service Company
TWMA, provider of specialised drilling waste management services, has announced its acquisition of US-based Dynamic Oilfield Services in an eight-figure deal.
20 June 2018 -
NewsTWMA achieves 12 months LTI free
Specialist drilling waste management company, TWMA, has reached 12 months lost time incident (LTI) free operations.
27 June 2019 -
NewsNorth east classrooms refreshed and charities uplifted by TWMA’s office donations
TWMA has used an office upgrade as an opportunity to uplift local schools and charities.
03 December 2020 -
NewsDrill into the low carbon benefits of processing at source
31 August 2020 -
News
TWMA reaches 9 years LTI free operations in Egypt
Drilling waste specialist, TWMA, has reached the milestone of nine years Lost Time Incident (LTI) free operations in Egypt across its sites in Cairo and Alexandria.
11 May 2020 -
NewsTWMA adapts equipment to provide critical service to major operator in UAE
Drilling waste specialist, TWMA, has adapted its onsite drilling waste handling equipment to support safe operations for a major operator as it manages through the current crisis.
29 April 2020 -
NewsThe benefits of processing drill cuttings at the rig site
When it comes to defining the methodology for drill cuttings treatment, it is now possible to materially reduce costs, improve safety, and lower the carbon emissions of drilling projects.
19 March 2020 -
NewsTWMA appoints new CEO
Specialist drilling waste management company, TWMA, has announced the appointment of Halle Aslaksen as its new CEO.
19 February 2020 -
NewsOptimising financial and environmental gains with at source drilling waste management
Water-based and non-aqueous drilling fluids (NAF) and associated drill cuttings are the largest waste streams generated from global offshore drilling operations.
21 November 2019