Oil and gas industry supplier Paradigm Flow Services (PFS) said yesterday it was growing its workforce after netting work worth more than £5million during the first two months of 2017.
The company, based in Drumoak, Aberdeenshire, also hailed the result of a £1.5million investment in research and development.
Its new Flexi-Coil 2 product has been developed to tackle challenges to the productivity of an offshore asset throughout its life cycle.
PFS said it the ultra-lightweight and flexible technology was ideal for tight spaces on floating, production, storage and offloading vessels or on platforms, and had already been successfully used worldwide.
The company has taken on 10 workers on the back of the new contracts, which are for work in the UK North Sea as well as key overseas regions including the Gulf of Mexico and west Africa, and in line with plans to further grow business overseas.
Managing director Rob Bain said: “Operators are very receptive to using our technologies and the value proposition is compelling, hence our very satisfactory start to 2017 both at home and abroad.
“Our production enhancement services, underpinned with innovative technologies, provide more cost-effective methods than conventional technologies and this has been a key factor in the rapid commercialisation of products such as Flexi-Coil 2.”
He added: “We are also delighted to report significant interest in our technologies in the deepwater regions and the Middle East which will drive continued investment in further production enhancement technologies, and recruitment of additional offshore and onshore personnel.”
PFS specialises in technology for the detection, remediation and prevention of subsea and topside blockages.
It is part of Netherlands-based Paradigm Group.