Bosses at Aberdeen energy services firm Petrasco are celebrating another lucrative Middle East deal, this time worth more than £1 million, 20 years after launching a base in Dubai.
The company has been awarded the “multi-year” contract by Dubai Petroleum Establishment, which is responsible for managing the emirate’s offshore oil assets.
Collaboration ‘critical’
Petrasco managing director Kevin Buchan said the Dyce-based firm’s management team was looking forward to “developing a productive working relationship over the weeks and months ahead”.
He added: “We firmly believe our company’s commitment to working in collaboration with our clients to provide added value and innovative solutions has been critical in our ability to attract and retain leading businesses, particularly in the buoyant and highly competitive Middle East energy market.”
Petrasco established its Dubai operation in 2003 and, following continued growth, commissioned the building of an oilfield logistics “hub”, which was completed in 2010.
The facility includes offices and warehouse space, as well as yard and storage areas over hundreds of thousands of square feet within the Jebel Ali Free Zone, in western Dubai.
Petrasco’s latest contract will see it deliver global logistics support for five offshore fields, an onshore gasfield, pipelines, and support services.
The work will be supported by the company’s offices in Aberdeen and Houston, in the US, as well as Sharjah-headquartered strategic partner Middle East Tubular Services.
More about Petrasco
Petrasco was founded in 1974 as an international freight forwarder specialising in serving the energy industry.
It is part of Glasgow-based Denholm Energy Services, formerly Denholm Oilfield Services, which has operations in the Caspian, Middle East and US, as well as the UK.
Petrasco was also previously part of family owned J & J Denholm, which in 2015 spun off its oilfield services division to focus on other more “traditional” activities – such as seafood processing, shipping and logistics.
As well as Petrasco, which is among the finalists for the 2023 Northern Star Business Awards, the oilfield services division included Inverurie-based Denholm MacNamee and Aberdeen firm Denholm Valvecare.
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