Deep Casing Tools, a leading manufacturer of innovative tools designed for land casing and completions of various projects for the oil and gas industry, is witnessing a solid demand for its casing and completion technology products.

The increase in demand of the products has seen the UK-based company earn over £500,000 ($766,850) in this year to new clients alone, said a statement from the company.

Supply agreements signed with major contractors in Malaysia and Vietnam earlier this year has increased sales from local operators, it added.  

More than 30 tools have already been dispatched this year to the Middle East, Far East, the US and Canada, increasing the number of tools sold to 270, it said.

This development comes at a time of growth in the company after reporting that it has doubled its revenue year-on-year to £9 million ($13.8 million) in 2014.

The company said it set up a combined office and warehouse facility in the Jebel Ali Free Zone (Jafza) in the UAE earlier this year to support the growing customer base in the Middle and Far East.

Lance Davis, the director, said: “New clients in Europe, the Far East and the US have increased tool demand to improve the well construction process.”

“Additional sales and operational personnel were employed to support increased demand which has resulted in new orders.  Trials are also underway with new operators in the Far East, which should continue a successful year for the company,” he added. – TradeArabia News Service