Ross Davidson, 20th June 2012
North-east oilfield equipment provider Downhole Products said yesterday it had signed deals worth £3.8million in the Middle East.
The Portlethen-based business has won work in countries including Iraq, Saudi Arabia and the United Arab Emirates.
It comes after Downhole moved its Middle East workforce into larger offices in Dubai to accommodate a growing team.
Downhole now employs about 70 people worldwide, including nearly 40 at Portlethen. It turned over £19million in the financial year to the end of last July, but expects to increase that to nearly £25million in the current period.
Managing director Ian Kirk said: “Our excellent figures in the Middle East are as a result of proactive, progressive movement in a part of the world where there is an increasing demand for quality products backed by professional expertise.”
He added that the region was one of several growing international markets for the business. He said: “Our work is increasingly being done overseas in the likes of the Middle East, but Asia is also a strong market for us and we are starting to gain a foothold in Russia as well.”