Founded in 1998 close to Aberdeen Airport, the firm is now a key global supplier of pipeline intervention services to the energy industry, with operations in Canada, the US, the Middle East, Malaysia and Australia. Its core business remains in the operational maintenance of oil and gas pipeline and piping infrastructure, but the company is also attracting new clients engaged in energy transition. In 2021, Stats generated annual revenues of just under £50 million and expects to improve on that performance when reporting its 2022 results.
Group chief executive Leigh Howarth said: “We’re experiencing substantial growth, particularly in North America and the Middle East, and are expecting that revenues will grow by some 20 per cent in 2023, adding to what has already been a successful 2021/22. There’s a growing market awareness of the integrity of our patented equipment and the sustainability features offered by our technologies. The decommissioning of oil and gas assets and repurposing of infrastructure for use in generating and storing renewable energy is another important area where Stats will play a key role as operators continue their energy transition journey.”
Buoyed by a strong pipeline of project work in the year ahead, the group is expecting to hire an additional 60 staff of which about a fifth will be graduate trainees, and steps are being taken to expand the company’s global footprint with the opening of another strategic base.
Howarth added: “Investment in training and the development of our staff has been a central tenet throughout Stats’ 25 years in business. As part of our localisation strategy, we’ll be recruiting up to 60 new staff across our operating regions to support and enhance our reach into the global pipeline market. In our first 25 years we’ve passed many important operational and commercial milestones and we’re excited about the opportunities which lie ahead in the next quarter of a century, both in traditional oil and gas sectors and the lower-carbon economy.”