OILFIELD service firm Reservoir Group, of Aberdeen, unveiled plans for South American expansion yesterday.
The company said its Corpro business, which specialises in core sampling systems (coring) for the energy industry, had secured new premises and made appointments in Colombia and Brazil.
Reservoir Group, launched in 2007, said it was now taking full control of Corpro’s coring operations in the two countries in recognition of the region’s growth potential.
It added: “Corpro has been providing services in Brazil and Columbia for almost 10 years with their (local partners) support.
“An increase in demand for its services and the requirement for an on-the-ground presence has led to Reservoir Group taking the decision to establish two autonomous operational bases in the region.
“While the changes in Colombia have already been implemented, the migration in Brazil will take place over a transitional period lasting several months, managed jointly with former agent National Oilwell Varco.”
Reservoir said the new South American operations would be staffed principally by local people already involved in the business. Chief executive Pascal Bartette said: “We will now use Corpro’s presence and infrastructure to provide opportunities for other members of Reservoir Group to develop their presence in Latin America.
“This is an approach that we have implemented successfully in other parts of the world.
“I am confident that our product range and service provision will be a natural fit for the challenges South America poses in terms of the development and exploration of both its conventional and frontier resources.”
Backed by Houston-based oil and gas specialist private-equity firm SCF Partners, Reservoir Group’s aim is to build a global portfolio of businesses designed to deliver specialist services around hydrocarbon reservoirs.