CETCO Oilfield Services has its eye on expansion into Libya.
It revealed yesterday that it was in final-stage negotiations with an oil and gas service agent.
The Portlethen-based firm was on a fact-finding mission to the north African country recently and is now looking to this emerging market as a region with considerable business opportunities.
General manager Euan Morrison said: “Key market drivers such as the very active exploration schedule, coupled with Libya’s aim to increase output from 1.5million barrels per day to 3million barrels per day in the next three years, was what drew me to Libya as a potential investment region.
“There are numerous opportunities for Cetco Oilfield Services to deliver effective oilfield solutions, particularly in the areas of water treatment and early production systems.
“Having identified these opportunities, we are now progressing plans for moving into the country by aligning ourselves with a Libyan oil and gas service agent.”