Pipeline engineering specialist, STATS Group (STATS), will celebrate 25 years in business with an expected 20% rise in revenue and an increase in its headcount to 400 staff.
Established in February 1998, STATS is now a leading global supplier of pipeline intervention solutions to the energy industry, with its headquarters near Aberdeen, Scotland, and operations in Canada, USA, Qatar, the UAE, Oman, Saudi Arabia, Malaysia and Australia.
Its core business remains in the operational maintenance of oil and gas pipeline and piping infrastructure, but STATS is also attracting new clients engaged in energy transition because of its emission-reducing technologies and associated ESG benefits.
In 2021 STATS posted annual revenues of just under £50m and expects to improve on that performance when reporting its 2022 figures, laying the foundation for further growth in its 25th anniversary year and beyond.
Leigh Howarth, Chief Executive Officer, STATS Group, said: “We’re experiencing substantial growth, particularly in North America and the Middle East, and are expecting that revenues will grow by some 20% 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, particularly in helping reduce carbon emissions for our clients.
“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, STATS is expecting to hire an additional 60 staff of which around 20% will be graduate trainees, and steps are being taken to expand the company’s global footprint with the opening of another strategic base.
For more information visit STATS Group’s website