Oil and gas firm Coil PNS (UK) secures �6m in orders in three months
An oil and gas services firm has landed contracts worth �6m just three months after investing in a new Great Yarmouth base.
Coil PNS (UK), a division of Holland-based Well Services BV Group, opened a new office and workshop complex in Pasteur Road in December following a �15m investment.
Nearly half the money was spent on new nitrogen pumping units and coil tubing rigs aimed at winning new work in the oil and gas industry.
Ian Sadler, UK managing director of the company, said trade had been 'tremendous', with a string of major contracts already signed this year and about 10 further deals in negotiation in services such as coil tubing.
Contracts already agreed include a �1.3m six-month commissioning project on the Gate Liquefied Natural Gas import terminal at Maasvlakte in Rotterdam and a five-year deal for nitrogen testing and joint integrity work at the Chevron Pembroke refinery in Wales, worth about �500,000 a year.?
The company has also won bolt torque tensioning work for AJS on gas installations in the Southern North Sea in a three-year deal work an estimated �750,000 a year, with an option for an extension for a further year.
Mr Sadler said: 'We set ambitious growth plans on the back of a �15m investment program in Great Yarmouth but we hadn't anticipated such a tremendous start.
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'Our investment and growth levels are in line with the business plan but there will almost certainly be more new jobs for the town in future.'
Many of the project wins will involve shared operations with the firm's UK headquarters, in Normanton, West Yorkshire.
The UK operation, established in November 2006, has grown to become a �10m turnover business, employing about 60 staff and 60 contract workers.
Mr Sadler said the company had recruited 21 staff at the Yarmouth operation plus about 15 agency staff, and was on track to increase that to 30 staff and up to 50 agency workers by mid summer.
He said the company was on target to hit its aim of growing turnover to �15m annually over the next two years.
Mr. Sadler added: 'We've been delighted at the support from tier one companies, some approaching us or giving help with tenders, enabling us to tackle the scope of work on a very quick turnaround basis.'