An Aberdeen-based oil service company announced plans yesterday to add more than 200 posts to its worldwide workforce by 2012.
Well-construction technology business Caledus is also targeting annual turnover to soar to £50million by that date.
The firm, which was founded in 2003, anticipates it will achieve this expansion through organic growth, strategic acquisitions and alliances.
Caledus predicts revenue will grow from £8million to £14million this year, with an increase in jobs globally from 43 to 65.
By 2012, the company expects its Aberdeen-based workforce will have expanded from 33 to 60, with the other appointments spread throughout its global centres.
Caledus chief executive and co-founder Paul Howlett said: “Despite what we hear from other sectors of the industry, we can look to the future with extreme confidence.
“We are an innovative solutions provider, looking to challenge convention, and we have managed to build an excellent team with an enviable breadth and depth of experience in all the necessary core competencies in the oil and gas service sector.
“While many companies may see the changes that have taken place in the price of oil and gas recently as a challenge, we, as a niche player, see them as an opportunity.
“We have positioned ourselves very well to grow because we offer products and services that reduce well-construction costs and enhance performance.
“At times like these, with lower commodity prices, such technologies are attracting significantly greater interest from operators.
“Of course, our business has to be managed carefully in these challenging times, but I am confident that we have the right people in place with the right experience to do that.
“Everyone has bought into the three-year strategic vision because they helped to create it and together we are all determined to make it a reality.”
The company said its confident vision followed on from the commercialisation of its TD Solutions portfolio: a range of individual downhole products and services to reduce non-productive time in well construction and ensure tubulars reach total planned depth. The range is focused specifically on challenging wellbore conditions, high angle, extended-reach drilling and horizontal wells.
Caledus will also further commercialise its SlimWELL technology, which slims down the well profile while maintaining well integrity and intervention ability.
The firm said SlimWELL had the potential to reduce well-construction costs by up to 50%, enhanced safety and reduced environmental impact.
Caledus added that it would look to enhance its organic business growth with strategic alliances and acquisitions to secure commercial products with a significant international appeal.
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