STATS Group is growing its market share and expects activity in the US and Canada to improve by more than 70% in both countries.
The company revealed they had recently invested approximately £2m (US$ 2.5m) in new premises and associated infrastructure to support growth plans in the US and Canada.
Revenues are expected to increase in 2019 by 71% in total revenues in the Americas of £13.2m (US$ 16.6m).
Investing in a new 35,000 sq ft facility in Edmonton, Canada that combines an office, workshop and extensive fabrication capacity, means STATS can now assemble, manufacture, support and test a larger number of components and tools in Canada, allowing a quicker and more efficient turnaround for the end-user.
Stephen Rawlinson, STATS Regional Director for Americas region, said: "This investment in larger facilities underlines our commitment to the Canadian energy and utilities sector and gives us the ability to provide high quality client-specific solutions in a much shorter timeframe. Traditionally, we have provided our industry-leading technology and services to clients on a rental basis but the introduction of product sales has proved extremely popular. This is really driving sustainable growth in our Canadian business, despite overall negativity in the Canadian oil and gas industry due to a lack of pipeline market access.”
STATS success in Canada has been mirrored in onshore US projects and Gulf of Mexico scopes with the Houston team, led by President and General Manager Scott McNae, expected to substantially increase its local workforce by the end of 2019.
A buoyant US market, where clients are upgrading infrastructure to improve output or replacing ageing infrastructure, has opened up new opportunities for STATS in the Mid/Northern US states and in downstream Gulf of Mexico projects.
Scott McNae said: "The market is in good health and we have been able to respond to this buoyancy by supporting small to large diameter pipeline projects with technologies which offer more robust isolations than previously available.
Our BISEP range is now a mature technology which offers a safer, fully tested and monitored double block and bleed isolation. It is also available with an integrated bypass option, which allows providing our clients with several different isolation options."
He added: "On Gulf of Mexico scopes we have rolled out our BISEP and subsea hot-tapping capability, building up a strong track record of delivering incident free, cost efficient results."