Aberdeen-based QTEC Energy Services has merged with Performance Fluid Management – a Canadian rival – in a move that will provide oil and gas operators and drilling contractors globally with a more comprehensive on and offshore service.
The new company, now named FOCUS, will be headquartered in Aberdeen and operate three regional business units covering the Americas; Europe, Middle East and Africa, and Australasia.
These regional business units will operate from the firms’ existing premises in Houston, Aberdeen, and Perth respectively, while offices in Calgary will also be retained. All existing personnel will remain with FOCUS, which will have a combined workforce of 60 people.
Merging the companies to create FOCUS came about after clear synergies between the two were identified. Both companies specialise in optimising the performance of drilling fluid systems on drilling rigs in order to eliminate surface spills and reduce operators’ costs. In addition, QTEC provides regulatory compliance, and environmental planning and permitting advisory services.
Established in 2004, PFM has primarily focused on land drilling projects, undertaking work throughout the world including North and South America, Russia and China. Established in 1992, QTEC has concentrated on offshore projects, completing work in most of the world’s oil and gas provinces.
Colin Manderson, Chairman of QTEC, will hold the same role in the new company. He said: “There are a lot of synergies between the two businesses, so it was a natural fit to bring them together.
“In the current market, which is challenging and will remain that way for some time, both businesses have experienced growth. There are opportunities for this to continue and the services we offer will be designed to respond to the realities of today’s global market.
“Both companies were trusted and respected within the oil and gas industry and bringing them together has been discussed for a number of years. PFM has focused more on onshore projects, while QTEC has specialised on projects offshore. The capabilities and knowledge of both companies will deliver true benefits to our clients.”
Peter Matthews, who was president of PFM, becomes managing director of FOCUS.