Independent Oilfield Services invests £10m for north-east growth

Symon Wadsworth (left) Finance Director and Glynn Geddie, Business Development Manager
Symon Wadsworth (left) Finance Director and Glynn Geddie, Business Development Manager

By DARA BUTTERFIELD

Independent Oilfield Services (IOS), a North-east storage and inspection company, is investing up to £10 million to develop its site at Peterhead.

IOS has secured planning permission to develop a further 30 acres of its 80 acre supply base at the former Longside airfield, near Peterhead, to create secure warehouse facilities for the oil, gas and renewables industry.

The firm, which also has an office in Aberdeen’s Golden Square, currently utilises 30 acres of the site for pipe storage and inspection services. The planning permission granted by Aberdeenshire Council this week has given the green light for one 60,000 sq ft warehouse and a further two 30,000 sq ft warehouses, including office accommodation, car parking for around 60 vehicles and yard space.

Symon Wadsworth, Finance Director, IOS, said: “Securing planning permission for the redevelopment of the vast storage and inspection facility at Peterhead is an excellent opportunity for the business, local area and industry.

“We feel there is sufficient demand for both internal and external storage facilities in the Peterhead area to complement the excellent and growing port facilities. The planning permission which has been granted will allow us to increase the services we can offer both current and potential clients with not only storage but also additional complimentary tubular services, as we look to offer more cost effective solutions in this difficult market.”

IOS also has a further 20 acres at the Peterhead site which could still be developed as the business grows to introduce complementary services to clients.

The firm is currently in discussions with a construction firm and work on the warehouse facilities is set to commence in the third quarter of 2015 with completion estimated for the second quarter of 2016.

IOS was established in 2014 and the management team has more than 20 years of experience in tubular and drillpipe inspection.

Current services provided from the site, which is just four miles from Peterhead Port, include external storage, OCTG inspection, drillpipe inspection, offshore inspection, equipment rental, transportation and tubular management. The multi million pound development will add secure warehousing to the facility to meet customer demand.

There are currently 40 members of staff based at Peterhead working for IOS and with plans to expand the independent business and further enhance its offering, IOS is set to create a number of local job opportunities both during and after the construction phase.

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