Press and Journal Article - 12.11.07

North-east oilwell technology company Caledus is predicting a record year on the back of an enhanced product range and new contracts, which have both prompted an increase in staff numbers at the firm.

Caledus, which has its head office in Rubislaw Terrace, Aberdeen, said yesterday it had already made a number of key appointments and expected to recruit more people over the next six months. The company, which now employs just under 40 people, is forecasting growth following the launch of a larger size for its SlimWell well construction technology, with field trials due to start in summer.

Caledus said its Asia Pacific operations based in Perth, Australia, and European business were both reporting record business levels.

The company recently won its first major contract in China - a £1.43million deal involving the firm's Rototec drilling tool. Other new orders totalling more than £2.4million have been secured in Malaysia, Brunei, New Zealand and Australia.

Caledus, which acquired Aberdeen-based Brunel Oilfield Services UK in November 2006, said it had seen increased activity in the North Sea and further contract wins in Canada, Asia and Alaska. The firm was established in 2003 with just four staff.

Chief executive Paul Howlett said: "Our third year of trading has seen Caledus mature into an established player in the service sector. We anticipate generating revenue of more than 11million (£5.26million) this year and our business is continuing to expand on all fronts."