STATS Group, the full service oil and gas pipeline engineering specialist based in Aberdeen, has received an additional £4.3 million capital infusion from the Business Growth Fund (BGF) to bolster its growth in foreign markets. This comes on the heels of a £7.8 million investment provided to STATS by BGF in 2012. Pete Duguid, chief executive officer of STATS Group, said "BGF have been very supportive since our first investment. They have not just injected cash into the business but have also offered advice and support during our global expansion. The latest funding will help us to maintain the pace of our expansion in the US and the Middle East.”

Since the initial funding deal, STATS has doubled its annual turnover to around £30 million, has created 145 additional jobs and has opened operational bases in Canada, the Middle East and the US.

STATS comprehensive range of products and services - onshore and offshore - enable piping and pipeline isolation, intervention, repair, subsea and shutdown services. In this regard recent work carried out by the group has included isolating the Forties Pipeline System on behalf of Apache North Sea, so that a subsea isolation valve could be safely installed on this major pipeline, responsible for transporting over a third of the UK’s oil production.