Coates Offshore grows fleet with £17m investment
By Murray Pollok28 August 2012
Coates Offshore, the oil and gas rental business in Aberdeen, UK and owned by Coates Hire of Australia, has completed a £17 million fleet investment programme in support of its international growth strategy.
The investment has added two hundred units to its fleet, including new ‘rigsafe' air compressors, steam generators, large capacity heat exchangers and sand filters. Also included are zone II air compressors.
The company is expanding its international depot network, with a new Singapore location opened in January to add to its existing locations in Aberdeen, Great Yarmouth (UK) and Den Helder (The Netherlands). It also has customer support satellites in Brazil, Malaysia and Perth (Australia).
Kieran White, Coates Offshore's executive director, said; "We have doubled our turnover and our team in three years, now employing over ninety people globally. Our multi-million pound fleet investment programme adds fantastic value to the reliability and availability of equipment for our growing global customer base and as a result we have already achieved some key contract wins."
The success of the business prompted a visit by the Scottish government minister for energy, enterprise and tourism, Fergus Ewing, MSP, who visited Coates Offshore on 27 August.
"I'm delighted to see such significant commitment to investment at this time and congratulate Coates Offshore on their growth achievements", said Mr Ewing.
"I understand that there continues to be a number of hurdles for small and medium sized firms to expand overseas and I'm exceptionally keen to engage with companies in the oil and gas sector to hear directly about the opportunities and barriers which are faced."