Derrick Services (DSL), a privately owned drilling structures and construction specialist in the oil and gas industry, is experiencing continued high worldwide demand for its services and products in the five months of 2014, with a current increase in turnover in excess of 40% of the same period year ago. Both its UK and Singapore operations are enjoying very strong growth. The Singapore operation growth is due to investment new fabrication facilities and infrastructure in 2013 which has helped increase revenue streams more than tenfold over the same period for 2013 for that particular operation.
DSL Singapore recently completed the installation of the replacement derrick on-board the AD1 in Singapore.
The strong performance for 2014 is helping to create new jobs in both the UK and its overseas operations, with the UK alone intending to create between 10-12 more management and administration positions in 2014 and a further 20-25 offshore/site positions.
Mike Smith, Managing Director of DSL explained that this exceptional growth is a result of “a combination of both new customers and increased business from established customers. In the last few years we have built upon our reputation of consistency and reliability in the Industry and as customers look to us to take the risk out of their short term upgrade or refurbishment of rigs, DSL is now recognised as being a reliable contractor to get their work done on time and within budget and without compromising safety and quality. It is particularly rewarding to achieve such a reputation in the market place as it provides us with a very exciting momentum for the business moving forward, and gives us the confidence to continue to invest to achieve even further growth”.
Drill ship and jack up rig derrick upgrades
Recent contract awards include the upgrade of the derrick on a drill ship in Vietnam, two drill ship upgrades for ONGC of India plus a contract for the upgrade of four jack up rig derricks currently been drawn up, and a 15 rig inspection and recertification contract for ENTP in Algeria.
Adapted from press release by Cecilia Rehn
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24072014/turnover-success-for-drilling-structures-and-construction-company/