Caledus, the Aberdeen-based oil and gas well construction company, has launched a new business unit to increase its presence in East Asia.
The company is forming a joint venture with Malaysian oil and gas service sector company Deleum Berhad, headquartered in Kuala Lumpur.
Caledus believes this will enhance the company’s existing profile in Malaysia, Miri, Indonesia and Brunei and open up the possibility of expanding into Thailand, Vietnam and Myanmar.
The company predicts up to 20 jobs will be created in the initial phase of the joint venture with a large majority being drawn from the local market.
Earlier this year Caledus unveiled plans for significant global expansion with forecasts of 250 employees worldwide and turnover of £50m in 2012.
Deleum, which has over 20 years of oil and gas experience in Malaysia and the surrounding region, also sees the growth potential presented by the joint venture.
‘We have worked closely with Caledus for the past three years acting as its agent; both companies now feel it is appropriate to enhance that relationship and a joint venture is the vehicle that we have chosen,’ said Chandran Aloysius Rajadurai, head of Deleum.
Caledus also recently announced the establishment of DragonBITEÔ Drill Shoe, a new product line focused on casing and lining drilling technology.
‘There is a significant demand for this technology, particularly in Asia and offshore and onshore North America,’ said Paul Howlett, chief executive and co-founder of Caledus. ‘The establishment of DragonBITEÔ and our entry into drilling with casing and liner market was a logical progression in our suite of well construction technology, and again ties in with our strategic commitment to incorporate new product lines where appropriate to enhance the business.’
Caledus was formed in 2003 as a service sector supplier to provide drilling, completions and downhole services to the oil and gas industry. The company is currently a supplier in the European, Asia Pacific, African and North American geo-markets.