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08/10/2012

Xodus Begin Middle East Development

An Aberdeen energy firm has announced plans to expand operations in Dubai as part of the first phase of a Middle East development plan.

Xodus has invested £2m setting up a new office in the Jumeirah Lake Towers area.

Initially, a team of 19 will be based at the new department, which intends to offer a range of integrated oil and gas services, focussing eventually on complete field development.

The move comes as the company plans its expansion into Abu Dhabi and Oman.

The development is part of a number of total field developments and integrated projects Xodus are implementing in the Middle East, including one for Gulf Keystone Petroleum in Iraqi Kurdistan.

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Chief executive Colin Manson and chief financial officer Emma Merchant have relocated to Dubai to assist in creating business for Xodus in the region.

Mr Manson said: "Xodus's vision of having hub offices in all four regions across the world has come to fruition with the opening of our Dubai office.

"With the level of activity in the Middle East married with the exponentially growing East African market, we envisage to have more than 50 people by the end of 2012 and reach 100 people within the first year with an eye on expansion into Abu Dhabi and Oman.

"The Dubai base will be focused on servicing contracts across the gulf including Kurdistan and Iraq and our integrated field development expertise ideally places Xodus to support unique project challenges."

Xodus Group launched in 2005 and has already to an operation with more than 450 people, making a turnover of £38.5m.

It aims to reach 1,000 staff by 2015, in part through "an active acquisition strategy".

(IT/GK)

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