New oil and gas service company Wellbore Intervention said yesterday it was on track to reach a turnover of £350,000-£400,000 in its first year.
The north-east company was formed in November but only began trading in January, and sales and marketing director Barry Webster said the first quarter had gone better than expected both for revenue and enquiries.
WBI was founded by managing director Jim Thomson, operations director Scott Fraser and Mr Webster to specialise in coiled-tubing, thru-tubing fishing and well-intervention services.
The three men have combined experience of more than 60 years in the oil and gas well-intervention sector, having worked previously in the UK and internationally with local and multinational service providers. WBI aims to provide a complete thru-tubing intervention service including job-design and project-management services, sales, service and rental of thru-tubing fishing, milling and cutting tools and bespoke tool design, engineering and manufacturing.
It has secured a three-year lease on an office and workshop at Kinellar, near Aberdeen and employs five full-time staff, including the directors, an office manager and workshop supervisor. It is looking to take on possibly a further two staff by the end of this year.
The workshop is where rental tools are serviced, inspected and tested before going out again to customers.
Mr Webster said significant investment had been made in an inventory of coiled-tubing and thru-tubing intervention rental tools and equipment, most manufactured locally to WBI’s specification.
He said: “WBI plans to focus on establishing itself in the UK North Sea market in 2010 while also considering further overseas opportunities. We have already done work in Ukraine and are in talks about opportunities in central and eastern Europe.
“We are in the process of setting up an integrated quality, health and safety, and environment management system and working towards ISO 9001:2008 certification.”