Oil and gas environmental-waste contractor TWMA said yesterday it planned to add up to 50 people to its workforce this year.
The Aberdeen-based company also said it was focused on growing its overseas markets after exceeding £30million turnover for the first time last year and landing £40million worth of UK North Sea contracts in the past nine months.
It increased turnover to £31million in 2010, despite a difficult economic climate and the completion of two major contracts, and expects this to exceed £40million in 2011.
The company operates in the UK, Norway, Americas, Africa and Middle East. It anticipates about 40% of work will take place outside the UK this year.
TWMA said it would invest about £8million this year to increase its rental fleet of TCCRotoMill thermal-processing equipment for offshore drilling projects overseas.
This will bring the firm’s cuttings processing capacity to 1million tonnes a year. The new TCCRotoMills will be manufactured at TWMA’s onshore processing and manufacturing site at Peterhead and the first unit is expected to be commissioned this month.
TWMA’s technology can lead to multimillion-pound cost savings to the offshore oil and gas industry worldwide by avoiding vast quantities of drilling waste going to landfill.
The firm employs about 300 people worldwide.
Managing director Ronnie Garrick said: “Our strong performance at home and overseas during difficult economic times reinforces our strength in this sector. We move forward in 2011 with confidence that we can continue to expand our operations and increase our international sales, which is a key priority for TWMA this year.”
He believes North Sea decommissioning activities will also provide opportunities for TWMA in 2011 and beyond.
He said: “We are gearing up to supply offshore-waste handling, recycling and bulk containment services to operators and contractors involved in decommissioning North Sea assets.
“Where cuttings piles are to be removed from the seabed, getting these to the surface for processing is going to be a massive operation, especially given the potential for contamination of the marine environment. Our expertise in this process lies in deploying our environmental systems on the rig site to recycle the cuttings onsite rather than bringing them ashore.”
Recommended for you
