An Aberdeenshire-based oilfield equipment firm with premises in Caithness has reported another record year, with revenues for 2024 expected to hit £22 million.
With all capital equipment projects coming from overseas markets, torque specialist EnerQuip expects to report a 10 per cent increase in revenue in 2024 compared with the previous year.
Capital equipment sales account for around half of the figure, with service and aftermarket also performing strongly throughout the past 12 months.
The multi-award-winning company has its headquarters in Portlethen, south of Aberdeen, and has premises at Smerlie, Lybster, as well as Houston, Texas, and Abu Dhabi.
Almost one third of EnerQuip’s business in 2024 came from new customers. Europe and the Middle East combined have taken in some 50 per cent of the overall total, with Norway “continuing to be particularly fruitful”.
EnerQuip sold its highest ever number of torque units to Guyana in 2024, with the emerging market and Brazil together making up one fifth of the year’s overall revenues.
EnerQuip’s latest mobile bucking unit dockside in Louisiana, USA.
Global head of sales Darren Bragg said: “The success of EnerQuip’s ongoing global growth journey lies in taking expertise rooted in the north-east of Scotland and successfully applying it to energy markets all over the world.
“The team has constantly worked hard to strike a successful balance between a commitment to ‘home’, by recently expanding our HQ, and ensuring we strive to fulfil our ambitious global aspirations. It is this combination which has allowed EnerQuip to win its place on the world stage in under a decade in business.
“The growth achieved this year has been a collective effort.”
Launched in June 2015, EnerQuip is a specialist in the design, manufacture, installation and maintenance of market-leading torque machines and associated products, including bucking units and fully rotational makeup and breakout torque machines.
Its team works with a growing client base in locations that includes Africa, North and South America, Canada, Europe, Asia, Australia and the Middle East.