Aupec - About Aupec - Our History

Our History

1986

Aupec formed as Aberdeen University Petroleum and Economic Consultants an operating division of the University of Aberdeen commercial arm.

Aupec was established in 1986 to commercialise the accumulated skills of members of the University of Aberdeen’s Department of Economics. Research that examined the economic aspects of oil and gas taxation had been ongoing since the mid-1970s under the leadership of Professor Alexander Kemp. Aupec (originally known as Aberdeen University Petroleum and Economic Consultants) was established as an operating division of Aberdeen University Research and Industrial Services Limited, the commercial arm of the University of Aberdeen.

The core competencies of the company related to the economic and financial analysis of investments in exploration and production activity in the petroleum industry. Aupec’s services made use of computerised modelling techniques to examine risk and reward sharing between governments and petroleum companies. Early consultancy services were delivered to government agencies requiring policy and technical economic advice. Service sector companies also utilised the company’s knowledge of petroleum sector activity and modelling skills to forecast and predict future market trends.

The earliest Aupec assignments involved delivery of services in newly prospective areas such as Denmark and the Falkland Islands, and in mature petroleum provinces such as Alaska. International diversification continued in the 1990s with major assignments in many parts of the world including Australia, Azerbaijan, Kazakhstan, Russia, Uzbekistan, Venezuela and the Faroe Islands.

1990

Aupec launch benchmarking services for the oil industry
Aupec’s increasing international profile as an independent and objective advisor earned the company new opportunities in 1990 when North Sea oil companies invited Aupec to provide comparative IT benchmarking services. Further diversification occurred in 1994 with the launch of a global downstream IT benchmarking service for refining, supply and marketing companies.

1997

Aupec Limited established and Tom Cross appointed as chairman

1999

Move to new premises on Aberdeen Science and Technology Park

2000

Successful management buy-out

2001

Aupec begin working in Angola

2008

Aupec buy University of Aberdeen shares to become fully independent
Today, as a privately owned company based in Europe’s energy capital we continue to expand our areas of expertise, reinforcing our position as a world-class provider of technical economic and commercial products and services to all concerned with business decision-making in the petroleum and energy sectors.