Hydra Rig Expands Operation (UK)

Specialist oil well & process service equipment manufacturer Hydra Rig has expanded its operation in the Great Yarmouth and Lowestoft (New Anglia) Enterprise Zone, part of the East of England Energy Zone (EEEZ), thereby making massive financial savings and avoiding the upheaval of relocation to Norwich.

Hydra Rig has expanded to four sites in Great Yarmouth over the last 13 years. But the company has grown so quickly in recent years that it needed a fifth site and, initially, the only available space it could find was in Norwich.

Hydra Rig General Manager, Chris Aulert, said: “We were looking to expand our manufacturing capacity to meet our clients’ demands and relocation to Norwich for our entire operation would have presented a real problem, logistically, financially, and for our workforce, who mostly live in the Great Yarmouth area. Fortunately a 30,000 sq ft facility became available at Beacon Park on the Enterprise Zone, which is perfect for our needs.

“Keeping our entire operation in one area is vital for continuity, communication and streamlined logistics, and the advantages of being in the Enterprise Zone are considerable.”

One of the benefits of being located in the Enterprise Zone is simplified planning, which suits Hydra Rig’s plans for the future. “Further expansion is very likely for us, and the 2.5 acre Beacon Park site already has planning permission for an additional 16,000 sq ft extension, so simplified planning will help to ensure that we can grow quickly without encountering too much red tape that could be the difference between winning or losing major contracts.

“Another advantage of our situation here is reduced business rates. We will be saving in the region of £190,000 over the next five years because of this, which is substantial, especially in a recession when every penny counts.”

Hydra Rig employs 135 people across its five sites. Seventy of those now work a Beacon Park. “We have taken on an additional 15 people to work at the new site,” said Chris. “So we are boosting employment in the area as well, and more positions will be available as we expand in the future.”

George Nobbs, leader of Norfolk County Council, said: “The East of England Energy Zone is a vital part of Norfolk’s economy and we are delighted that Hydra Rig is expanding its operation in this area. The EEEZ is expected to benefit from £50 billion of investment over the next 20 years, so companies like this will add to the economy and continue to reap the benefits of doing business in the Enterprise Zone.”

Mark Goodall, Board member of New Anglia LEP, commented: “The opportunity to expand in the Enterprise Zone and to further develop its operation in the future shows that energy-related companies like Hydra Rig can make a long-term commitment to doing business here. The cost benefits to them are significant, and the advantages of the zone will continue to attract major global companies.”

James Gray, inward investment director for EEEZ, said: “This is yet more proof of the attractiveness of Great Yarmouth and the EEEZ to businesses operating across the offshore energy sector.”

Trevor Wainwright, Leader of Great Yarmouth Borough Council, said: “This is incredibly good news for Hydra Rig, their employees and for the borough as a whole. This decision shows that Great Yarmouth has a lot to offer energy companies looking to expand or relocate. By staying in Great Yarmouth and choosing to move to Beacon Park, Hydra Rig is able to keep all its staff and operation in the town and even start to employ more people. This is a great success for all involved.”

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Press Release, December 10, 2013