TPT May 2018

I NDUS T RY

IOS secures new £12.5mn contracts STORAGE and inspection firm Independent Oilfield Services (IOS) has secured two major new contracts, worth more than £12.5mn. The Sumitomo Corporation Europe has awarded IOS an eight-year, £10mn contract to carry out OCTG management and inspection services, while Odfjell Drilling has agreed a £2.5mn contract for the management and inspection of drill pipe. IOS is now proceeding with a £3mn expansion to its Longside Supply Base near Peterhead, UK, in order to significantly expand its capacity to service the two new clients as well as its existing customer base. This represents the second phase of a new £5.5mn investment by IOS in the region. Late last year IOS announced that it had purchased its previously leased 32-acre site at the former Longside airfield for £2.5mn. The company retains a 15-year option to lease additional sites at Longside, with potential to extend its facility to 100 acres. Following the granting of planning permission at the end of last year to create an additional 35 acres of storage, work has now begun on the construction of new warehousing, an inspection facility and a machine shop. The expansion will create around 20 additional jobs with the company, which has already doubled its workforce in recent years. IOS’s new inspection facility will give it additional capacity to handle the requirements of the Sumitomo contract. The OCTG inspection and preparation resource will prepare and inspect up to 300 joints per day – triple the current capacity. The key factors in Sumitomo’s selection of the facility were the close proximity to the Peterhead port, the range of services provided and the potential for future expansion. Donald MacKay, VP for European business at Odfjell Well Services, said, “We awarded this contract to IOS because the size of the facility and the range of equipment they have available enables quick and efficient loading and offloading, which allows us to meet our very tight deadlines and deliver a reliable service to our growing client base.” Also included in the expansion is a new machine shop and an additional 2,000m 2 of warehousing, which will add to IOS’s existing indoor storage capacity of 4,000m 2 . Glynn Geddie, managing director at IOS, commented, “We are delighted to have won these two important new contracts. We have already made major investments in our Longside site to ensure that we provide a first-class service in a state-of-the-art facility for our customers. Our expansion will significantly increase our capacity to meet the operational requirement of all our clients. “We chose the site at Longside because of its prime location only four miles from the quayside at Peterhead. The proximity to the port provides a very competitive alternative through reduced transport and fleet costs for oil and gas operators and service companies who berth at Peterhead’s deep water quays.”

Independent Oilfield Services – UK Email: operations@iosuk.net Website: www.iosuk.net

22

www.read-tpt.com

MAY 2018