Dundee-Based Firm Expands Oil, Gas Capabilities with New Investment

Dundee-based technology company, Albacom, has expanded its capabilities in oil and gas by relaunching its Surface Technology division, following a $308,026 (GBP 250,000) investment, which was supported by Scottish Enterprise.

“Albacom is continually evolving and diversifying into new markets to ensure the company is best positioned for the anticipated upturn throughout the industry,” an Albacom representative told Rigzone when asked if the expansion had anything to do with the increasing oil price.

The Surface Engineering and Machining division allows the company to offer customers a fully integrated service and turnkey solutions, according to Albacom. The company said it has invested significantly in diverse manufacturing, repair and maintenance technology, and recruited new members of staff, in order to support the division’s development.

“Diversification is key to Albacom’s growth strategy and this divisional expansion is crucial for us to build upon our capabilities in the oil and gas market,” Albacom CEO Jim Davidson said.

“Work is already underway with our first major oil and gas service company and we’re excited to further develop the services we can offer in this area,” he added.

David Rennie, international sector head of oil and gas at Scottish Enterprise, said the investment would help the company within the UK and abroad.

“Today’s announcement is great news for Albacom as it looks to grow its business both at home and overseas. Our contribution will help the company maximize opportunities in the oil and gas sector as well as support the creation of four, very welcomed, new jobs. I wish them every success as they embark on this new journey,” Rennie said.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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