EnerQuip secures deals worth almost $10m with new recruitment likely
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An Aberdeen-based oilfield equipment firm with premises in Caithness secured deals worth almost $10 million in the fourth quarter of 2022.
The $9.7 million of work secured by award-winning torque specialist EnerQuip includes significant gains in new markets, including the company’s first contracts in India and Colombia.
The US continues to prove fruitful and recent successes have included a $1.3 million project in Houston.
EnerQuip’s service and aftermarket capabilities continue to be an integral part of the business, yielding some $2.3m of work in the last quarter.
Ongoing growth for the seven-year-old company is expected to result in further recruitment, with staffing levels across EnerQuip and the recently acquired Diamac Engineering expected to increase by 15 per cent to almost 100 in the coming year.
These positions will be spread across the company’s bases in Aberdeen, Abu Dhabi and Houston.
Fabrication and welding for torque machines takes place in a workshop at Smerlie, Lybster,
Other highlights over the past year included the opening of its first sales and service centre and the creation of a strategic alliance with Al Yaseah Oil and Gas Industry Supplies and Services in the Middle East.
Earlier in 2022, EnerQuip took ownership of the intellectual property, people and assets of the AMC product line from Forum Energy Technologies, while the purchase of Fife subcontract precision machining company Diamac Engineering brought machining capability for the group in-house.
EnerQuip’s global sales and business development manager Darren Bragg said: “Entering into 2022 there was trepidation as to how the year would unfold, given that much of the world, Scotland included, was still under some sort of Covid lockdown guidance.
“As these rules and lockdowns relaxed, it became clear there was a lot of pent-up desire to buy new equipment following two years of stagnation. Demand for our equipment has been evident in existing territories looking to increase oil and gas production as well as new geographic areas, as traditional importers of oil and gas now look to establish energy security for themselves.
“Our Mobile Torque Unit has achieved strong results in supporting the reduction of drilling and completions time, and it will continue to play a central role in our portfolio throughout 2023 and beyond.”
Managing director Andrew Robins said: “By working hard to increase our foothold in traditional and emerging markets, we have been able to significantly grow our presence in key global locations.
"It is crucial for us to be positioned close to where our customers operate so that our products and services can be nimble in response to demand, backed by the right expertise to ensure correct, efficient and timely project delivery.”
Launched in Aberdeen in June 2015, EnerQuip works with a growing client base in Africa, North and South America, Canada, Europe, Asia, Australia and the Middle East.
