ABERDEEN, UK – Independent Oilfield Services (IOS) has won two contracts worth more than £12.5 million ($16.9 million).
The Sumitomo Corporation Europe has awarded the company an eight-year contract for oil country tubular goods (OCTG) management and inspection services, while Odfjell Drilling has commissioned the company to perform management and inspection of drill pipe.
IOS is now proceeding with a £3-million ($4-million) expansion to its Longside supply base near Peterhead, north of Aberdeen, in order to expand capacity to service both new clients and its existing customers.
This is on the recently-purchased 32-acre (12.9-ha) site at the former Longside airfield.
Following the granting of planning permission to create an additional 35 acres (14.2 ha) of storage, work has begun on construction of new warehousing, an inspection facility, and a machine shop.
In Sumitomo’s case, this will allow preparation and inspection of up to 300 joints a day, triple the current capacity.
IOS also plans to open a new machine shop later this month and to additional new warehousing to boost its indoor storage capacity.