A LEADING casing accessory and completion tool company, Downhole Products has announced the opening of an office in Baku as the company continues to flourish.
The Caspian region was previously looked after from the company’s UK office at Portlethen on the outskirts of Aberdeen, Scotland, but was moved to the Middle East portfolio in August 2012 and is now managed from regional headquarters in Dubai.
There, in a bid to cope with the upturn in demand, additional business development managers were recruited earlier this year as the company moved to larger premises in the Jebel Ali Freezone.
The recent securing of a significant contract worth $45 million over five years led to the decision to open in Baku, operating as a satellite of the Dubai base and providing clients with local support.
An ongoing local recruitment campaign is ensuring that the right people are in place to service the needs of the growing customer base.
Just five years ago, Downhole Products’ annual turnover in the Middle East sat below $1 million but that has since jumped to $22 million.
Commenting on the move, Downhole Products Middle East regional manager, Martin Pirie, said: “Opening an office in Baku gives us an important presence because it will provide a springboard from which we can drive the business forward and increase our market share throughout the Caspian region.”
Downhole Products are a world market leader in the design, manufacture and supply of casing accessories and completion tools such as centralisers, reamer guide shoes and cable clamp protectors.
The most recent addition to their product offering is CaseBit, a joint development with American parent company Varel International which incorporates patent pending features designed to ensure effective drilling and smooth drill-out for the following string.
For further information, visit www.Downhole.org email mail@Downhole.co.uk or call Downhole Products HQ on +44 (0) 1224 784411.
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Contact: Downhole Products