ABERDEEN company Deep Casing Tools (DCT) announced plans yesterday to grow its workforce and more than treble turnover over the next year after the launch of new technology for the oil and gas industry.
DCT, which specialises in the design and manufacture of casing and completion tools, said it had turnover of £1million last year, which was double the figure for 2009.
The company employs 11 people from offices in York Street but expects this to rise to 20 before the year-end.
There are also plans to build business in America and Norway plus open an assembly plant in the Middle East to complement the facilities in Aberdeen.
Chief executive Lance Davis said: “These are extremely exciting times at Deep Casing Tools. The success we enjoyed in 2010 is carrying over into this year and we fully intend to capitalise on that.”
DCT has already seen several new appointments in recent months, with the employment of an additional sales manager and a technology manager.
It also appointed international oilfield technology expert Stuart Ferguson, former senior vice-president and executive officer of Weatherford International, to join its advisory board.
The company said its latest product, the Turbocaser Express, had already attracted great interest from drillers.
DCT will be taking part in a drilling conference and exhibition in Amsterdam from March 1-3 and also plans to exhibit in the Scottish pavilion during the Offshore Technology Conference in Houston in May.