A north-east oil service company has started a major push into Norway, it emerged yesterday.
Qserv now has offices in Stavanger and Bergen and is hiring field staff.
The Portlethen firm believes it can generate annual turnover of up to £10million in the country within the next couple of years.
Managing director Tommy Dreelan revealed details of the firm’s plans to the Press and Journal at ONS.
The expansion across the North Sea comes less than two months after Qserv was bought by Norwegian group Aker Solutions.
The deal led to Mr Dreelan and his brothers, Sean, Mike and Ciaran sharing nearly £100million.
They are to stay with the operation well into the next decade and, if ambitious growth targets are met by 2010, could be in line to double their initial payout from Aker.
Qserv was founded fewer than seven years ago by the brothers and the workforce has since grown to more than 350.
Mr Dreelan said the backing of Aker would help the business to achieve its goal of doubling annual turnover to £100million and increasing the workforce to 700 by the end of this decade.
He said Qserv, which offers well, process and pipeline services, was a perfect fit for Aker’s well-service operation which previously had virtually no presence in the UK. Mr Dreelan added that Qserv had only done a little business in Norway until now, but had not established itself properly in the country.
He said: “If you do not have people and equipment on the ground, you will not get the business.”
Mr Dreelan also revealed that Qserv had been looking at setting up in Norway even before the Aker deal came up. He added: “There are a lot of developments going on in Norway and a lot of opportunities.
“Becoming part of Aker means we now have a base in Norway.
“Offices have been assigned for us in Stavanger and Bergen and we are currently hiring field staff.
“I believe that, in the next two years, we can reach annual turnover in Norway of £10million, from virtually a standing start.”
Mr Dreelan said Qserv achieved total turnover of £48million last year and the target this year is £65million.
The firm does 80% of its business in the UK and 20% abroad. The aim is to increase the international side of the operation to 60%. West Africa and south-east Asia are seen as major growing markets.