Proserv Plans to Hire 130+ in 2012

Proserv, a global-leading specialist in energy production technology services, is set to create more than 130 new employment opportunities after reporting a 17 percent increase in business, the company reported Monday. Proserv also forecasted a further 20 percent growth in business in 2012.

Proserv surpassed its ambitious growth figures overthe last 12 months with a projected revenue of $176 million (GBP 113 million) for the year ending in December. This figure rose from $149 million (GBP 96 million) for the same period 2010, underpinning the company's fast-evolving international track record and increasingly-growing demand for its integrated specialist services and world-class technologies.

Proserv's strong business growth comes three months after the company harnessed its position for future accelerated expansion by announcing that it had consolidated five separate entity companies under the Proserv brand.

"Since the merger, we have seen significant growth in our business due to our increased capabilities and expertise, particularly in the drilling, production, subsea and decommissioning sectors," said David Lamont, Proserv's chief executive officer. "We forecast even stronger results for 2012, having secured a number of new contracts and as a result, we will be building on our current global workforce of almost 800 people by a further 17 percent next year to support our current order book and strong sales pipeline. This reinforces our ambitious plans for future accelerated expansion and to meet demand for our enhanced portfolio of complimentary products and services to clients globally."

Around 40 to 50 of the new employment opportunities are to be created in Aberdeen City and Shire.

In July, Proserv announced the completion of a new financing arrangement for around $112 million (GBP 72 million) which brought together five respected and successful companies under its brand. The five businesses, which are now known as Proserv, were:

• Proserv Technology (Aberdeenshire)
• Proserv Offshore (Aberdeenshire)
• Hydrafit Subsea (Aberdeenshire)
• Gilmore Valve (Houston)
• Argus Subsea (Houston)

Leveraging the strong market positions, track records and capabilities of these individual companies, Proserv can offer clients an enhanced portfolio of field-proven complementary technologies, in-depth engineering expertise and world-class service.

"Bringing all five businesses together under one cohesive organization with its own identity has enhanced our market-leading presence as well as extended our global footprint and support coverage," said David. "Our focus is to build on our current position, invest in recruitment and the training of our people, and continue with the global promotion of our full product and service range into new and existing markets."

Proserv provides expertise in the following key areas by focusing its products and services on the evolving changes of the industry:

• Drilling & Production
  Proserv specialize in a wide range of innovative solutions and technologies for the drilling and production sectors of the oil and gas industry. With safety at the forefront, our field proven technologies help enhance operational efficiency, reduce risk and maximize oilfield production.
• Subsea Technologies
  Proserv designs, manufactures and delivers a comprehensive range of innovative subsea technologies for the demanding subsea and offshore renewables markets. With the integration of both Hydrafit Subsea and Argus Subsea into our global infrastructure, Proserv is able to offer an extended portfolio of services that is truly unique to the market.
• Equipment & Support Services
  Proserv specialize in the sale and rental of a wide range of production technology equipment for the oilfield life cycle. In addition, we offer high quality storage, repair and maintenance services to ensure equipment is kept to the highest standards and ready at short notice.
• Infrastructure Services
  Proserv provides bespoke technologies and a wide range of installation, maintenance and repair services for topside and subsea applications.