OilMac Secures Exclusive Stock Reduction Deal

Aberdeenshire-based Oilfield Machinery Ltd (OilMac) wins major exclusive stock reduction deal with a leading international drilling contractor, to hold and supply predominantly unused, equipment with a sales value in excess of $20 million.

The stock reduction program will see OilMac retrieve 200 – 300 major items of high-quality surplus equipment, including high pressure testing equipment, BOPs, connectors and winches, held by drill rigs, with plans to repeat the process on further assets by the end of 2016.

Alex Fyfe, managing director at OilMac said: “Current market opportunities and this latest major win sees OilMac stock increase five-fold, helping position us as the go-to low cost supplier of predominantly unused and new equipment direct to drillers and operators worldwide.”

This significant deal underpins the firm’s dedication to redefining the process for the reallocation and direct supply of equipment, and making it available to the international market usually at less than half of the original cost and zero lead time.

Mr Fyfe continued: “Our commitment to safety, service and quality equipment is demonstrated by our ability to provide independent inspection and recertification, as well as global sea and air freight experience with our established engineering based approach, ensuring OilMac equipment can be provided off the shelf, with documentation and at greatly reduced prices.

OilMac enjoyed a successful 2015 and the win allows OilMac to increase its team to six, including the recruitment of Eric Poole as sales manager, with plans to create a further six jobs in Scotland in the next 12 months.

“By providing a single point of contact, taking full responsibility for document control, removal, storage and re-sale of any equipment purchased and with all stock originally sourced from the major OEMs, OilMac is leading the reallocation and direct supply in the unused equipment market, making the process of dealing with redundant stock as effortless as possible.”