Multi-Million Fleet Investment for Coates Offshore

Global equipment rental specialists Coates Offshore has announced significant expansion in global fleet worth over AUD$24 million over the next two years. 

The fleet expansion, which includes air compressors, steam generators, heat exchangers and sand filters to support offshore oil and gas projects on a global scale, is expected to increase revenue by 30% over the next two years. 

A number of the fleet expansion projects are underway with imminent delivery from suppliers including OEG Offshore, Averon Engineering, Mechserv and Hunting to the value of AUD$12 million in new offshore air compressors, heat exchangers, steam generators and sand filters; supporting projects in Europe, South America and the Middle East.

 "Over the next fifteen years global production of oil and gas is set to rise by circa 20%.  This brings with it demands on the supply chain for quality-led products and services which will support the expected increase and complexity of global oil production," said Kieran White, Executive Director.

"To ensure our business is in a prime position to support this future customer and market demand with a quality product and service offering, we have committed to the investment in our people, product and operations which will position us as the leading global equipment rental supplier." 

Operational support personnel has recently been boosted with recruitment of additional Offshore Service Engineers and an expectation to grow headcount by 30% over the next six months, in line with the expanding fleet portfolio and plans to strengthen operations.