Downhole Products has landed $19million worth of contracts in Malaysia and Angola.
The Portlethen-based firm confirmed the contracts windfall at this year’s Offshore Technology Conference (OTC).
Managing director, Ian Kirk, who will be stepping down from the leadership position this year, said: “The careful positioning of our offices around the world enables us to provide services close to our clients, thus enabling us to be more effective, efficient and cost-effective. This strategy continues to be fruitful and we are delighted to report sustained growth and development in key regions.”
Ian will be passing the leadership reigns to his successor Mark Dundee after the international conference wraps up.
The contract wins are critical to Dundee’s target of keeping turnover within 5% of last year’s total of $70million despite the recent economic downturn.
Last year’s turnover represents an average annual increase of 37% since 2009 for the firm.
The most recent wins, a mixture of three to five year contracts, is the latest push from the casing accessory and completion tool company to strengthen its international portfolio.
The firm recently invested $5million into a 200,000 sq. ft. manufacturing facility in Dammam, Saudi Arabia in partnership with Energy Projects Support Company (ENPRO).
The move created 25 jobs in the region and the firm has since produced, delivered and successfully run its first consignments of Downhole Products’ Spir-o-lizer products.
The base is the latest addition in the firm’s intentional portfolio. The firm has since grown its regional headquarters in Kuala Lumpur into four satellite offices.
The company, which employs 90 people worldwide, has also managed to double its US turnover to $12million over a three year period.
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