Pipeline engineering specialist, STATS Group, has made a promising start to 2010, securing more than £8 million worth of sales in the first quarter.
The UKCS sector accounts for £2.5 million of those design and manufacturing contracts, with £2 million worth of work secured in Norway, £1 million in the Asia Pacific region, £1 million in the Middle East and a further £1 million of smaller contracts being generated from the Americas markets.
Aberdeen-based STATS has also confirmed an additional £1 million in tool rentals orders in the same period.
STATS Group managing director, Pete Duguid, said after a challenging 2009 he was encouraged by such a buoyant start to the year and predicted the company would exceed projected revenues.
Mr Duguid said: “We’ve had strong visibility of the market picking up since late last year and have been working hard behind the scenes to be ready and able to respond to clients’ requirements once market conditions eased and things started returning to some kind of normality.
“That is now paying off in terms of the number, value and global spread of the contracts we have so far secured in 2010 and we are focused on building on this early success. It is a real confidence boost for all our staff that client demand is strong and it’s testament to the quality of our products and engineering skills to have commitment to the tune of more than £8 million at this early stage.
“The year is less than three months old but we are in a very strong position not only to meet our revenue targets but we are very likely to exceed them. Like most firms in the energy sector we have experienced some pain in the last 12 months with the financial climate and market slowdown, but we are now well positioned to meet what appears to be a growing need for our services in the market.”
STATS design, manufacture and install a range of patented technologies for piping and pipelines in the oil, gas and petrochemical industries which reduce system or plant downtime and enhance safety and environmental performance.
Last year the company relocated from Dyce to a £5 million custom-built headquarters at Kintore outside Aberdeen, which includes 40,000 sq ft of workshops, storage and testing facilities.
Clients which have commissioned STATS for projects in 2010 include BP, Wood Group, Sigma 3, Statoil, Exxon Mobil and BJ Services. STATS technologies are in demand from the North Sea to the Middle East, Malaysia, Kazakhstan, the US and Canadian oil sands markets.
Note to Editors
STATS Group is a specialist engineering company and service provider that operates predominantly in the arena of piping and pipeline integrity and maintenance. We supply a comprehensive range of products and services, which enable piping and pipeline isolation, intervention, inspection, repair, connection, and testing work scopes.
The majority of our works are undertaken on mature assets, typically process piping onboard offshore facilities (fixed and floating). We also supply products and services for infield and trunk pipelines both onshore and subsea, as well as onshore processing and distribution terminal facilities.
Established in 1998, our key drivers of providing innovation, value and rapid response, has cemented our reputation in the UK-North Sea Sector for always exceeding client expectations. Every product in the STATS portfolio is designed, manufactured, assembled and tested by our own in-house engineers and technicians.
In 2009, STATS Group invested £5 million in a new headquarters at Kintore near Aberdeen, which includes 40,000 sq ft of workshops, storage and testing facilities.
Issued on behalf of STATS Group Ltd by Sure Public Relations. For further information please contact Stephen Rafferty on +44 (0)7980 598764 or email firstname.lastname@example.org