HFI aid well engineers SPD ahead of internatonial expansion
Posted: 10 August 2005
Well engineering experts SPD have completed a group restructuring programme in preparation for international expansion.
Dubai and Aberdeen based SPD specialise in well engineering services, well project management and drilling consultancy solutions and have worked for global clients in the Middle East, West Africa, Asia Pacific, Europe, UK North Sea and Australia.
Dubai based legal and commercial consultants Hugh Fraser International (HFI) were instructed to devise a new group structure which would allow SPD to comfortably expand in to new international markets.
The solution ensured SPD remained tax efficient, legally compliant, and operationally functional while limiting liability and risk. HFI also provided advice on the ownership structure of SPD in the UAE and UK.
SPD’s well engineering manager, Colin Finnegan, said: “As our company continues to expand and we pursue our long-term ambition of overseas growth it had become apparent we needed to update our company structure.
“We now have a framework which allows us to expand in to new regions without having to deal with the bureaucracy that many companies can face in similar situations.
“HFI were most efficient in putting together a custom-made solution designed for our needs and their advice and input was invaluable.”
HFI managing partner, Hugh Fraser, said: “SPD are a typically ambitious young company who recognised the value of putting in place an organisational structure which can be easily adapted to work in a variety of international markets.
“By taking care of tax, legal and liability issues now it should limit the bureaucratic problems many companies encounter and allow SPD to concentrate on growing their business.”
For more information see www.fraserlegal.com
Posted by Richard Price, Editor, EnergyME.com
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