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Agreements Bolster Global Expansion for ROMAR International

Aberdeenshire-based oilfield service company ROMAR International has announced it has entered into agreements with two major companies in Norway and South America as part of its global growth strategy.

Through the Norwegian initiative with Stavanger-based PETROPRODUCTS - a subsidiary of Parent company PETROLINK AS – the companies will collaborate to offer an increased service to the offshore drilling and asset decommissioning sectors of the oil and gas market.

The South American collaboration between ROMAR and INTERGAS SERVICIOS PETROLEROS based in Bolivia, will involve the companies working together to offer the local drilling industry a range of magnetic separation products to the major operators in the region.

ROMAR provides magnetic separation products and services to operators and drilling contractors, which are designed to remove metal contaminants from all forms of drilling fluids. The products deliver increased safety performance for operators by removing large quantities of swarf from fluid systems, without the need for mechanical intervention, whilst also eliminating operators’ exposure to swarf and hazardous chemicals. ROMAR’s patented range of magnetic systems are the only products of their kind currently available to the offshore oil and gas drilling market.

Both South America and Norway have been targeted by ROMAR due to the potential opportunities for the company’s magnetic separation products and services within these areas. The South American market also offers ROMAR a chance to enter the vast offshore oil and gas sector in Brazil, where demand for its mud spill prevention systems and flow-line ditch magnets is forecast to be significant.

Following on from the Norwegian initiative, ROMAR is making a six figure investment into developing and manufacturing additional swarf recovery and disposal technologies, due to the forecasted demand for this type of service in the sector.

George Yule ROMAR Chairman said: “We are really enthusiastic about both of these initiatives as it addresses the opportunities within overseas markets which we consider as significant building blocks in the planned future growth of ROMAR. We are really pleased to be working alongside indigenous companies with such impressive credentials as PETROPRODUCTS and INTERGAS.

“ROMAR has experienced around 30% year-on-year growth against our 2010 performance, which is thanks to all of the staff here as they have embraced the changes in the business over the past year - we look forward to expanding our international footprint even further in future.”

Bertrand de Lassus, President of INTERGAS said: “As an established oilfield service company operating in the Bolivian drilling sector, we recognised the significant potential there was in this region for ROMAR’s products and services.

“Intergas Servicios Petroleros is pleased to have formed this business collaboration with ROMAR International and we look forward to building a stronger presence for both companies in the local market.”

Kjell Kittang, managing director of PETROPRODUCTS in Norway said: “Given the planned increase in drilling activity and also the number of offshore well plug and abandonments scheduled across the Norwegian North Sea we envisage significant opportunities to increase market share in our chosen sector. ROMAR is a very good fit with our own business and we look forward to achieving mutual success working with them in the near future.”

ROMAR International expects its planned growth will create further employment opportunities locally and overseas in support of a strategic sales and marketing campaign aimed at gaining market share in new geographies for the company. The company currently trades in many oilfield industry provinces including North Sea, Africa, Gulf of Mexico, India and Canada.

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