Multi-million investment for NE firm

Financial director Simon Wadsworth and business development manager Glynn Geddie
Financial director Simon Wadsworth and business development manager Glynn Geddie

A North-east storage and inspection company is set to make an investment of up to £10million to develop its site at Peterhead.

Independent Oilfield Services (IOS) has secured planning permission to develop a further 30 acres of its 80 acre supply base at the former Longside airfield, near Peterhead, to create secure warehouse facilities for the oil and gas and renewables industry.

The firm , which also has an office in Aberdeen’s Golden Square, currently utilises 30 acres of the site for pipe storage and inspection services.

The planning permission granted by Aberdeenshire Council last week has given the green light for one 60,000 sq ft warehouse and a further two 30,000sq ft warehouses, including office accommodation, car parking for around 60 vehicles and yard space.

The multi million pound development will add secure warehousing to the facility to meet customer demand.

There are currently 40 members of staff based at Peterhead working for IOS and new jobs are in the pipeline during and after the construction phase.

The firm is currently in discussions with a construction firm and work on the warehouse facilities is set to commence in the third quarter of 2015 with completion estimated for the second quarter of 2016.

Symon Wadsworth, finance director for IOS, said: “Securing planning permission for the redevelopment of the vast storage and inspection facility at Peterhead is an excellent opportunity for the business, local area and industry.

“We feel there is sufficient demand for both Internal and External storage facilities in the Peterhead Area to compliment the excellent and growing port facilities.”

Mr Wadsworth added: “The planning permission which has been granted will allow us to increase the services we can offer both current and potential clients with not only storage but also additional complimentary tubular services, as we look to offer more cost effective solutions in this difficult market.”

IOS also has a further 20 acres at the Peterhead site which could still be developed as the business grows to introduce complimentary services to clients.

With plans to expand the business and further enhance its offering, IOS is set to create a number of local job opportunities in the coming months.