OIL services company Proserv has been awarded a series of contracts worth more than $11million (£8.5m) in the Middle East where it has been investing in growth amid the downturn in the North Sea.
The Aberdeen-based company won orders worth around $10m in the United Arab Emirates. It will supply a range of products including control panels and power units to oil and gas producers and engineering firms.
Private equity-backed Proserv also won contracts in Saudi Arabia covering the maintenance of power units and the supply of shut down systems.
The wins follow what Proserv described as significant investment in a new manufacturing facility in Saudi Arabia.
The company said it expects to enjoy further success in the Middle East based on its expanding presence in the region and the breadth of its offering. This ranges from the supply and maintenance of equipment to training.
The Middle East is seen as an important growth market for Scotland’s oil and gas services firms.
While exploration and production firms have slashed spending in the North Sea in response to the fall in the crude price since 2014, investment activity has been much stronger in areas such as the Middle East and Asia Pacific.
In March Proserv won a multi-million dollar contract to supply Premier Oil with subsea equipment for use off Indonesia.
America’s Riverstone private equity business has supported Proserv in an expansion drive since acquiring control of the business in October 2014.
In 2015 Proserv bought Nautronix, an Aberdeenshire-based offshore communications specialist in what looked likely to have been a £50m plus deal.
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