International Tubular Services (ITS) announces the continued growth of its business in the Middle East and the relocation of its Dubai base in 2008.
The Aberdeen-headquartered company, which set up operations in the UAE in 1996, has almost doubled its revenues in the region within the last two years securing contracts in Saudi Arabia, Oman, Qatar and UAE. The Group has also been successful in supporting contract wins for the wider Group in India and the FSU and boasts an impressive customer base of major operators and contactors.
The regional headquarters in Dubai, which act as an operational hub for trading throughout the Middle East and South Asia, currently employs 180 personnel and boasts a warehouse, machine shop and yard complex. The base will relocate to a new purpose built facility on a five-acre site in Sharjah, this month, from where it will continue to provide its customers with a one-stop shop offering a range of services including equipment inspections, rentals, sales as well as handling repair work and tailored manufacturing for customers' equipment. Within the last two years, ITS has continued to expand its product and service offering with the provision of pressure control equipment for rental together with fishing services and casing running services.
ITS recently appointed a new Group CEO, Mr Jeff Corray who has ambitious plans for further development in 2008 and beyond. Mr Corray's appointment brings a significant breadth of experience and relationships from within the industry, having worked closely on the strategic and commercial development of many international oil service companies whilst leading KPMG's oil and gas mergers and acquisitions' team.
Commenting on the success of the Middle East base, Mr Corray said: "A major contributor to the ITS success story has undoubtedly been the strong development of our Middle East operations. A great measure of the Group's ability to think ahead is evident in some of the prestigious contracts we have secured. The offshore contracts we have with Reliance Industries in India are great examples. Here we have combined the technical expertise of our Dubai operation in the supply of equipment and service and supplemented that with a significant in-country investment in facilities in Mumbai and Kakinada. This is a model we believe in and one which will see us continue to invest in key regions."
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