The Press and Journal (Aberdeen and Aberdeenshire)
Expansion planned as east is full of promise for Proserv
Growth: New overseas bases set up
North-east energy service firm Proserv said yesterday it was setting up new bases in India and Saudi Arabia on the back of new contracts worth about £10million.
The recent deals include a “significant” contract with an unnamed global oil and gas operator for the delivery of a three-well subsea control system in Indonesia.
Another sees Proserv, based in Westhill, Aberdeenshire, designing, engineering and manufacturing chemical injection systems for a Middle East oil and gas operator.
And in the far east, the company has secured a decommissioning project for platform and subsea well severance.
The overseas expansion includes a new engineering centre in Chennai, India, and a manufacturing and fabrication facility for surface production equipment and services in Dammam, Saudi Arabia.
Proserv chief executive David Lamont said: “It has been a strong start to the year, with diverse contracts secured demonstrating the robust relationships we have with our international client base.
“Despite the challenging industry climate, there is an appetite for smarter technologies and solutions that challenge the norm and deliver tangible cost and efficiency results.”
Proserv, which currently operates across 22 sites in 12 countries, recently invested more than £1.6million in new technology for well severance campaigns.
The firm – owned by US private equity company Riverstone – said it had further technology research and development investment planned for 2017, with two new subsea tools expected to launch soon.
“In India and Saudi Arabia on the back of new contracts worth £10million”
Proserv was originally formed in 2011 following the amalgamation of five separate companies and now employs more than 1,500 people across the globe.
The five businesses involved in its creation included three from the north-east – Proserv Technology, Proserv Offshore and Hydrafit Subsea – plus Houston-based Gilmore Valve and Argus Subsea.