EnerQuip announces record new contract award to mark opening of Middle East office

Source: press release, 3 November 2022

Launched in Aberdeen in June 2015, EnerQuip is a specialist in the design, manufacture, installation and maintenance of market leading torque machines and associated products
Launched in Aberdeen in June 2015, EnerQuip is a specialist in the design, manufacture, installation and maintenance of market leading torque machines and associated products (photo: EnerQuip)

Multi award-winning North east company EnerQuip has celebrated the landmark opening of its first sales and service centre in the Middle East, and the creation of a strategic alliance with the announcement of a record USD 2.5 million contract award for delivery to Abu Dhabi in 2023.

The ambitious 7-year-old company has just opened premises in Abu Dhabi, UAE and hired full-time local staff in a move which will establish a permanent physical presence in this key growing market. The creation of the local entity, EnerQuip Torque Solutions, to serve the Middle East market from a local base demonstrates commitment to the region but also at a local level, particularly in Abu Dhabi, given the importance of local investment to support In Country Value (ICV) objectives.

In establishing this new entity, EnerQuip has partnered with Al Yaseah Oil & Gas Industry Supplies & Services LLC to harness future opportunities in the region, including the securing of a significant multimillion dollar, multi package deal. The deal will see EnerQuip deliver several packages of their MTU (Mobile Torque Unit) that will be capable of fully automated offline make ups of threaded casing and drill pipe up to 20-inch diameter, and 120,000 ft.lbs of torque.

The latest announcements represent further ambitious steps forward for the company which recently announced a significant expansion to its portfolio thanks to a key product line acquisition. Earlier this year EnerQuip Ltd acquired the AMC product line from Forum Energy Technologies, taking ownership of the intellectual property, people and assets in a move which further consolidated its market leading position ahead of an early return to pre-pandemic revenues ahead of forecasts.

More recently, EnerQuip announced the purchase of Fife sub-contract precision machining company Diamac Engineering Ltd for an undisclosed sum. Its addition to the EnerQuip portfolio is a significant move, bringing machining capability for the group in-house and opening diversification opportunities thanks to Diamac’s established reputation across a range of sectors which sees more than half of revenues coming from out with the energy sector.

Commenting on the latest developments, Andrew Robins, Managing Director of EnerQuip says, “Establishment of a partnership and entity in the Middle East have long been ambitions. However, the delays to our plans caused by the COVID-19 pandemic offered the opportunity for further investigation and research, so as to ensure that our brand partner carried the same recognition as our own.”

“We are delighted that Al Yaseah was selected after an extensive review and we are excited by the opportunities that await us, not least because the offering from Al Yaseah gives us the strategic location we require to ensure our clients experience the same high levels of support, whilst lowering costs,” Robins continues.

He adds, “This joint venture marks the next exciting step in EnerQuip’s journey, and we look forward to developing our partnership with Mr. Al Qubaisi and his Al Yaseah company in the years to come.”

Al Yaseah Managing Director, Khalid Al Qubaisi adds, “With strategic presence of Al Yaseah in the capital city of Abu Dhabi and being one of the preferred and leading vendors in the energy, oil and gas and power sectors, we are confident that our partnership with EnerQuip will further strengthen our position with our clients by adding niche product and services to our portfolio.”

Darren Bragg, EnerQuip Global Sales & Business Development Manager says, “The contract award is the single largest in EnerQuip’s history valued in excess of USD 2.5 million, and to receive this award from a major regional TRS (Tubular Running Services) company provides the springboard that will allow EnerQuip to cement its place regionally, and to be recognised as the ‘go-to’ reliable supplier for mobile bucking equipment for offline makeups.”