Aberdeen-based OEG Offshore enjoying growth in the Caspian

Offshore container and module manufacturer OEG Offshore, of Aberdeen, said yesterday it was enjoying further growth in the Caspian region.

A “local presence and commitment” to the area has helped it secure sales and long-term rental contracts worth nearly £2 million since the start of 2019, the company added.

OEG has supported offshore exploration and construction in the Caspian region for more than 20 years via long-established bases in both Kazakhstan and Azerbaijan.

It said yesterday it was to provide standard cargo units as part of a rental contract for Socar’s deepwater exploratory drilling on the Umid gasfield, off Azerbaijan, to the end of 2019.

Other rental contracts secured by OEG include the supply of drill cuttings boxes, containers, baskets and engineering cabins to support offshore operations on the Banagadi oilfield, Azerbaijan, as well as onshore drilling in southern Albania.

In addition, Dyce-based OEG has delivered offshore containers and skips to BP’s Shah Deniz Phase 2 project in Azerbaijan.

OEG Caspian regional director Ruslan Tuayev said: “We have the correct mix of standard cargo units available for sale and rental from the Baku base to support existing contracts as well as forthcoming drilling projects in the region, such as Equinor’s well exploration campaign at the Karabakh oilfield and BP’s on-going offshore developments.”

“The close geographic proximity of our sister base in Kazakhstan allows for easy mobilisation of units throughout the region to meet customer demand.”

OEG said its “extensive” presence throughout the Caspian allowed it to quickly support projects in Azerbaijan, Georgia, Kazakhstan, the Russian Federation, Turkmenistan and eastern Mediterranean.

The company is backed by US private equity giant Kohlberg Kravis Roberts, which has a controlling stake.

With operations in Africa, Asia and Australasia, as well as Europe and the Americas, OEG boasts a 140-plus workforce operating from its main bases around the world.

The group – led by chief executive John Heiton – was created in January 2010 as a result of the merger of two sister firms, Vertec Engineering and Containental Offshore, to service the offshore container and module manufacturing needs of the oil and gas industry globally.

It has taken over several rivals in recent years, both in the US and Singapore, despite a major slowdown in offshore activity affecting a number of key regions in the wake of the 2014-15 slump in oil prices.

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