Caledus well primed to cash in on Middle East

Published on Sunday 12 October 2008 20:57

CALEDUS, the Aberdeen-headquartered well construction firm, has opened its first Middle East base as it reveals it expects double-digit growth over the coming year.

The company, which has overseas operations in Australia, Canada and the US, has opened an office and manufacturing base in Dubai.

Caledus added that it will continue growing its workforce worldwide, which has rocketed from just four in 2004 to more than 40 now.

Paul Howlett, chief executive and co-founder of Caledus, said the firm had experienced double-digit growth for the past three years, which he expected to continue into 2009.

He said: "We see the Middle East as a vitally important market and are entering at a crucial time. The vast majority of 'easy plays' in the region have gone, drilling is becoming much more complex and … in these circumstances, we believe our technologies can answer some of the questions posed by today's Middle East drilling sector challenges."