Petroleum Africa
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Thursday, March 24, 2016
Aberdeenshire-based Oilfield Machinery Ltd (OilMac) has invested almost £1million into new premises in Forfar to facilitate client demand for cost effective serviced storage solutions.
OilMac, which is headquartered in Inverurie, currently occupies one part of the building at its site in Forfar but is extending into 95,000sqft of covered storage on the nine acre site.
The move was supported with significant funding from Clydesdale Bank in a deal facilitated by Commercial Relationship Manager Ian Grant.
Established in 2010, OilMac aims to provide the industry with an efficient, economical and environmentally effective option for buying and selling redundant and surplus on and offshore equipment and tools.
The expansion has created two new job posts within the company with further logistics and asset management jobs expected to be created as the business continues to grow.
Alex Fyfe, managing director at OilMac, said: “Investing in expanding our site in Forfar allows us to offer additional serviced storage to our clients at highly competitive rates and, in turn, to address storage cost issues being encountered by many of our customers.”
Just last month OilMac won a major exclusive stock reduction deal with a leading international drilling contractor, to hold and supply predominantly unused equipment with a sales value in excess of £14million. The win increased OilMac’s stock five-fold, helping position the company as the go-to low cost supplier of predominantly unused and new equipment directly to drillers and operators worldwide.
In line with the company’s success throughout 2015 and into this year, OilMac has recently employed David Walker as financial director to enable the business to achieve its growth potential. He has held previous financial director roles within both the oil and gas service sector and also business banking.
Mr Fyfe continued: “The increased storage space also provides us with the ability to source further surplus oil and gas equipment. By offering unused equipment, off the shelf, it ensures a quicker lead time for clients – as we increase our available stock, it increases the likelihood that we will have the exact equipment our clients require. All leading to significant cost savings for the client.
“We are delighted to welcome David to the team at a very exciting time for OilMac. His experience is ideally suited to the role and his input and strategic forward planning will assist us greatly as we continue to develop the company in line with client demand.”
Stephen Hepburn, Head of Clydesdale Bank’s Business and Private Banking Centre in Aberdeen, said: “Clydesdale Bank is proud to support OilMac achieve its expansion goals.
“The oil and gas industry has gone through some very tough times recently, and it’s encouraging to see businesses such as OilMac continuing to expand in the sector.
“We have a well-established partnership with them supporting many of their growth projects over the years and we look forward to continuing our relationship.”
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