OTC15: Downhole Products wins $19 million in contracts

Downhole Products secured US$19 million in contracts in Malaysia and Angola in a mixture of three and three to five-year projects.

The Asia Pacific region remains an important part of the world for the company and, since the creation of regional headquarters in Kuala Lumpur five years ago, financial growth has been coupled with and expansion in geographical footprint to include four satellite offices.  This and Downhole Products’ technically superior under-reamed centralisation and reamer shoe products are said to have been key to securing the two latest significant contracts in Malaysia which total $15 million alone.

Last year, the company announced the $5 million creation of a 200,000sq ft manufacturing facility in Dammam, Saudi Arabia in partnership with Energy Projects Support Company (ENPRO), leading to the creation of 25 new jobs within the two organisations and the facility has just produced, delivered and successfully run its first consignments of Downhole Products’ Spir-o-lizer products.

“The careful positioning of our offices around the world enables us to provide services close to our clients, thus enabling us to be more effective, efficient and cost-effective.  This strategy continues to be fruitful and we are delighted to report sustained growth and development in key regions,” Downhole Products, President/Managing Director Ian Kirk said.

Downhole Products will be on booth 8439 in the Reliant Arena during OTC from May 4-7. 

Image of Kirk. From Downhole Products.