ABERDEEN-headquartered OSSO has today announced that it has doubled its revenue by 7 figures within the Middle East after making significant investments to grow the size of it’s regional mud cooling fleet by 150%.
Following this investment, OSSO has seen a strong market reaction, opening a series of new key accounts and doubling its revenue within the region.
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Following growing customer demand in the UAE, Saudi Arabia, Oman, and across the Gulf Cooperation Council (GCC), OSSO invested significantly to enhance its offering and add industrial land chillers to its mud cooling fleet. This has enabled the business to provide Middle Eastern operators with a full turnkey mud cooling service, removing the need for multiple partners on projects.
The higher temperature and deeper gas wells in the Middle East mean effective mud cooling is essential to commercially viable drilling in the region. By using land chillers in tandem with mud coolers, drilling operators can ensure drilling fluids remain within an optimal temperature range, enabling better performance, improved drilling efficiency, and enhanced wellbore stability. Furthermore, the effective use of chilling can greatly reduce the water requirements of projects.
Through this investment OSSO will provide an additional 14000 manhours of employment locally in the region. The additional equipment added to the fleet has also been constructed in the Middle East, supporting national governments in retaining in-country value and ensuring carbon savings through minimising transportation and travel costs.
James Scullion, CEO, OSSO, said: “The Middle East is a key region for OSSO as we execute our global growth and geographic expansion strategy. The region is going through a hugely exciting time with significant investments leading to an increase in domestic energy demand and there are also significant opportunities in growing exports of LNG.
“We view the Middle East as being one of our key revenue driving geographies and have already seen a strong reaction from the market in response to our investment, opening a series of new key accounts and adding a seven-figure value to our revenue in the region.”
David Mitchell, Middle East Regional Manager at OSSO, said: “We have over 8 years’ experience and have supported the drilling of over 80 HPHT wells in the UAE, Saudi Arabia, Oman and across the Middle East. Now as the region is entering a strong growth cycle this is the perfect moment for us to invest and take our proposition for operators to the next level.
“Through listening to our customers we identified that there was an opportunity for us to offer a truly turnkey mud cooling service for the Middle East, and with the addition of land chillers and scaling up of our fleet, we can now offer operators across the GCC an integrated one stop shop for their mud cooling needs.”
