Stats Group has invested six figures in a new base in Saudi Arabia, marking a strategic milestone in the company’s global growth.
The Kintore-based company has opened a 27,000 sq ft (2,500 sq m) base in Dammam in the country’s Eastern province.
A new Saudi operating company, Stats Limited Co for Oil Services, has also been awarded approved vendor status by one of the Kingdom’s leading energy operators.
© Supplied by STATS
© Supplied by STATSThe pipeline engineering specialist has assigned more than $4 million (£3.1m) in assets and equipment to its Saudi business offering hot tap and double-block and bleed isolation services as well as an in-country inventory of large-diameter pipeline isolation equipment.
The service hub also includes offices, crane facilities, testing bays and equipment storage.
Aligning with Saudia Arabia’s “Vision 2030” programme, Stats is also committed to building a predominately Saudi workforce and has already employed nationals in business development, technical and engineering roles.
Stats vice president for the Middle East, Mark Gault, said: “We have a long standing relationship with the Kingdom’s leading energy sector companies and setting up a local entity and opening a base is the natural next step in growing our market presence.
“This investment not only strengthens our infrastructure and ability to more rapidly respond to clients needs, but it underlies our commitment to local innovation and to creating employment and skills learning opportunities for Saudi nationals.
“By opening our new service hub we can now host the largest inventory of hot tapping and isolation equipment in the region, and we have a unique qualification as the only approved contractor providing subsea hot tapping services for a national operator.”
The firm, which was acquired by Japanese industrial conglomerate Mitsui last year, now counts operations in Abu Dhabi, Oman and Qatar. The company now has approximately 160 staff based in the region – a 66% increase in the last year.
Gault added: “We firmly believe in having our own people on the ground in strategic markets and with our best-in-class technologies this is now paying off with engagement with high profile EPCs and end-clients at FEED stage, meaning Stats’ contribution to major projects is start-to -finish.”
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