North-east oil service company Aker Qserv sees Houston as a key centre from which to expand its international development.
The well-intervention, process and pipeline service specialist is exhibiting at OTC for the fourth time and it has a team of five senior managers in attendance.
Speaking at OTC yesterday, director Ciaran Dreelan said: “The international operations of our clients are managed from here and it’s where a significant amount of capital expenditure is spent, research and development is carried out and our suppliers are based.
“It is therefore critical that we continue to raise our profile in the US and build the reputation here that we have gained in the North Sea.”
Mr Dreelan said three new markets recently opened up to Aker Qserv, with contract awards in Ghana, Equatorial Guinea and Angola potentially totalling millions of pounds, but added: “The North Sea continues to be integral to our growth plans and will be for some time to come, but the relationships and contacts we are developing in Houston will be the catalyst for sustainable future business in the world’s other oil and gas provinces.”
The Portlethen company was founded in 2001 and last July revealed it had entered into an agreement with Norwegian group Aker Solutions to become a subsidiary of Aker Well Service.
The deal led to Qserv managing director Tommy Dreelan and his brothers – Sean, Mike and Ciaran – sharing nearly £100million.
The firm was recently renamed Aker Qserv.
Ciaran added: “OTC is an ideal platform for us to highlight our new identity and emphasise how it will help us build upon our proven track record in our target markets. It gives us the opportunity to stress the many new business opportunities generated by the enhanced market offering we can now provide.
“Being part of Aker has given us access to their infrastructure and facilities around the world and is effectively helping us fast-track our internationalisation strategy.”
Aker Qserv employs about 550 people and is on target to increase its worldwide workforce to 700 by the end of the decade. Pre-tax profits for 2007 hit £7.45million; almost double the previous year’s £3.9million haul. Turnover jumped from just over £26million to £47.7million.