Aberdeen drilling services firm pumps £1m into new HQ and Latin American growth

NXG, the drilling technology and services specialist, has invested more than £1 million in a new Aberdeen headquarters and a site to support projects in Latin America.

NXG is a global drilling technology and services specialist. Picture: Rory Raitt

The move comes in the wake of the firm securing contracts with three major global oilfield services firms in recent months. The agreements potentially represent a seven-figure boost to revenues.

The business has moved its HQ and rental division from Hareness Circle in Altens to a nearby site at Ness Point, Blackness Circle.

A new Mexico operation, which includes an industrial unit, offices and yard space, will be headed up by regional manager Jesus Martinez, who has more than 20 years’ experience in the drilling sector.

The investment in the new Aberdeen base positions the business to support an expected increase in demand for its technology, expertise and services throughout 2021 with a substantial addition of warehouse and yard space.

Managing director Rod Coffey said: “The Aberdeen site is a first-class facility that allows us to meet our UK and international objectives. The addition of a Mexico site will be a huge asset to the business for central and south American projects and reflects our confidence in the global oil and gas market.

“We are close to agreements for two additional international bases and hope to make an announcement before the summer.”

He added: “There’s a very bright future for NXG as long as we maintain the momentum behind our growth during what has been a challenging time for all businesses.”

NXG also runs a service, repair and manufacturing facility at Longside, near Peterhead.