Labtech Celebrates Record Year For Business
Posted: 16 February 2005
International engineering specialist to the oil and gas industry, Labtech Modular Engineering, is celebrating a record year for business and is anticipating further success in 2005.
Turnover for the Aberdeen-based company to December 2004 was more than 12 per cent up on the previous year, well in excess of the £5 million that the company had forecast and Labtech’s best results for seven years.
Order books were extremely healthy, with 75 per cent of sales catering for overseas markets.
Key projects undertaken included:
- A fully winterised cabin to combat the extreme weather conditions on Sakhalin Island in a contract for Baker Hughes Inteq. The contract broke the £1 million mark for work undertaken by Labtech on projects for Sakhalin Island in just two years.
- A £400,000 contract to deliver two fully winterised high specification cabins for the Baku Tblisi Ceyhan company on the world’s largest oil pipeline linking Azerbaijan to Southern Turkey across 1,750km.
- A £300,000 plus contract with PetroServices in Germany to supply four mud logging cabins to Pakistan.
- A £220,000 contract with John Lewis Aberdeen to upgrade and expand the air conditioning systems with in its department store.
- A £180,000 project to build three high quality hire modules for West Africa and the Danish sector of the North Sea, boosting the company’s hire fleet of A60 modules to 40.
- A £120,000 deal to provide two specially designed laboratory cabins for leading oilfield services company Core Laboratories for a contract in Kazakhstan.
The increased workload and an anticipated further rise in orders have led to promotions for two key members of staff within the company. Former project engineers Norman Porter and Raymond Criggie have been made project managers with the joint responsibility of maintaining tight controls of all production activity.
Labtech managing director Jim Manson said: “The past year has been a great one for us, and 2005 is shaping up to be an even greater success.
"We wanted to expand our business into the international market, which was enhanced by our acceptance onto Scottish Enterprise’s Global Companies Development Programme, and that ambition is being realised. Our cabins and modules are used by clients in all the world’s major oil and gas regions, and we are committed to serving the industry’s requirements wherever they may be.”
Posted by Editor Pipeline Magazine
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