Busy year ahead for EnerMech as new deals spur headcount increase
UK-based oilfield services provider EnerMech has kick-started 2022 expecting to have a busy year ahead with new awards for global projects – including transformational infrastructure campaigns – worth over $675.5 million, which were secured last year, enabling the firm to increase its headcount by approximately 30 per cent compared to 2020 numbers.
EnerMech reported on Thursday that it has kicked off 2022 by breaking into new geographies and business territories with over £500 million (over $675.5 million) of new contracts secured in the last 12 months.
To remind, the firm won a string of new contracts in the UK at the start of 2021. One of the long-term contracts last year was secured in March as a five-year contract with Chevron Australia for integrated services to its Western Australian oil and gas facilities.
Another five-year contract was inked in November 2021 to support TAQA’s UK Continental Shelf (UKCS) portfolio in the North Sea. At the time, EnerMech confirmed that the new contract builds upon the existing seven-year relationship with TAQA in the UK.
In its latest statement, the company revealed it is scheduled to start work in January 2022 on several significant campaigns, including numerous transformational mega-projects around the world.
Christian Brown, EnerMech CEO, explained: “After winning more than half a billion pounds of new business in the last 12 months, 2022 will be a very busy year for us. We are delivering several milestone campaigns for existing and new clients in the sectors we have traditionally supported, as well as new end markets and new regions, where clients value the reliability and safe delivery across all phases of the project lifecycle for which we are known.”
The firm explained that during 2021, it was awarded over £500 million of business with new and existing clients across its target end markets, including the energy, renewables, infrastructure, nuclear and waste-to-energy sectors. In addition, the firm has increased its headcount by approximately 30 per cent compared to 2020 with some projects already underway, and new ones commencing imminently.
Sandeep Sharma, CFO of EnerMech, remarked: “The diligent and responsive measures we adopted last year, as well as the investments we made, have had a truly positive impact on our people, our clients and our business. This success, combined with our ongoing resilience and determination, has set us on course for continued growth this year and beyond, growth that will safeguard jobs and create new ones.”
EnerMech adopted a swift and proactive approach to the market that complemented its diversification strategy last year in response to the headwinds caused by low oil prices and the impact of coronavirus restrictions.
“As well as having a healthy order book, we also have new opportunities on the near horizon. Our strengthened position is a testament to the talent we have in-house and their hard work in these challenging times,” added Brown.