The company, which has been operating at an eight-acre plant in Bathgate, West Lothian, since 1984, said the move will help to secure and maintain employment for the coming years.
Oil States is the first major tenant to sign up to the business park at Whitburn and hopes to move into its new site by the end of this year.
A spokesman for Oil States said: "As a business, it was imperative to upscale our facility in Bathgate. To be able to stay within West Lothian, and within the community that has supported our business historically, was an important factor in choosing Heartlands.
"It secures the present workforce and, in time, will see an increase in the workforce within a state-of-the-art facility, maintaining the world class service Oil States Industries provides to its clients globally."
Alex Muirhead, Heartlands development director for Ecosse Regeneration, said: "The arrival of Oil States as the first major business on site is fantastic news for Heartlands and for West Lothian. By attracting major corporates such as Oil States to Heartlands, we will secure high-quality skilled employment to the area and stimulate investment in support of the economic growth and development of the region."
Taylor Wimpey has completed the first homes at the development and discussions with other builders are taking place. Preparation work for two potential new golf courses has also started.