The Penspen Group has been awarded the Queen’s Enterprise Award for International Trade after increasing its exports by more than 90% to £75m in the last three years and expanding over 400% since 2005.
Penspen has 15 offices worldwide and specialises in the maintenance and integrity of oil and gas assets. It designed and engineered a £1.9bn Abu Dhabi crude oil pipeline and developed the 7000km Nabucco pipeline to bring natural gas to Western Europe from Asia.
Penspen’s chief executive David Stanley received the award yesterday at Buckingham Palace. Mr Stanley said: “Penspen is delighted to receive this prestigious award for encouraging international trade. Working with clients across Europe, the Americas, Asia-Pacific and the Middle East, we hope to continue expanding our reach, as well as encouraging wider international trade, and contributing to international engineering skills by providing strategic training programmes.”