While the slump in crude oil prices is casting an economic cloud over the N. Sea oil and gas industry, it has also produced a £14 million ‘silver lining’ – and new jobs boost – for a Grampian-based plant and equipment factor.
Inverurie dealer Oil Machinery has agreed a deal with an international drilling contractor to hold and supply predominantly un-used equipment with a sales value in excess of £14 million. The company specialises in buying and brokering redundant equipment in the oil, gas, drilling and marine industries.
The win allows OilMac to increase its team to six, including the recruitment of Eric Poole as sales manager, with plans to create a further six jobs in Scotland in the next 12 months.
The stock reduction program will see OilMac retrieve up to 300 major items of high-quality surplus equipment, including high pressure testing equipment, BOPs, connectors and winches, held by drill rigs, with plans to repeat the process on further assets by the end of 2016.
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Alex Fyfe, OilMac Managing Director, said: “Current market opportunities – coupled with this latest major win – means we’ve increased our stock five-fold recently, helping position us as the go-to low cost supplier of predominantly unused and new equipment direct to drillers and operators worldwide.
“Our commitment to safety, service and quality-equipment is demonstrated by our ability to provide independent inspection and re-certification with our engineering-based approach, ensuring OilMac equipment can be provided off the shelf, with documentation and at greatly reduced prices.”