Published: 08 May, 2024
Aberdeen-based Deep Casing Tools has announced it has won a coveted King’s Award for Enterprise in the International Trade category.
The firm, a leading provider of innovative solutions for the global oil and gas industry, says it has been recognised for its robust international trade growth strategy, which has successfully driven an increased footprint in the Middle East, Asia Pacific and Latin America. In response to increasing demand for its technology, the company recruited an additional seven people last year, including three strategic appointments in Saudia Arabia and the United Arab Emirates, increasing the total number of employees globally to 25.
David Stephenson, Deep Casing Tools CEO said: “We have significantly increased our overseas footprint in recent years by entering new territories, and it is fantastic to see our efforts recognised with a King’s Award for Enterprise. By diversifying our business internationally, prioritising markets with the highest growth potential and building strategic alliances, we have built a strong track record across the regions we operate.
“Our global growth strategy has been led by a combination of robust research and development with in-depth market knowledge to identify opportunities for expansion and development, whilst continuing to deliver a personal, bespoke service to each of our customers. I am delighted for our team, this award is a testament to their continued hard work and dedication and I look forward to building on this success in the coming years.”
Deep Casing Tool’s suite of technology includes the TurboCaser, TurboRunner, MechLOK and Rubblizer. All were deployed around the world in 2023, delivering a total of 64 projects, with the TurboCaser accounting for 73% of its global commerce.
The high-speed, turbine-powered casing running system helps drilling teams to land casings and intermediate liners at target depth in even the most complex wells. It’s 75% faster than conventional technology and can save up to three days per project, delivering significant efficiencies.
The company has experienced significant demand for the solution, particularly in Saudia Arabia and the United Arab Emirates. During a recent project offshore Abu Dhabi, the application of the TurboCaser enabled a major operator to save more than 1,500 rig time hours, (USD) $13.7 million in operational costs and 4,247 MT in CO2 emissions when compared to traditional methods.
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