News
Aberdeen oilfield services company OEM Group enters administration
Richard Bathgate It is Donald McNaughtrestructuring partners Johnston Carmichael, have been appointed joint administrators of oilfield services company OEM Group (Scotland) Ltd.
Based in Portlethen, on the outskirts of Aberdeen, OEM Group (Scotland) Ltd was founded in 2012 and provided drilling product rental and engine services to the oil and gas, marine and renewable energy sectors.
The company, which previously employed 12 people, is no longer actively trading due to cash flow pressures. Most of the staff were made redundant shortly before the joint administrators were appointed.
Five jobs are being retained for the orderly closure of the company’s engine services division and to allow for the sale of the rental business. The rental business remains operational for equipment hire whilst the joint administrators seek buyers for its specialist offshore drilling tool hire fleet.
Bathgate said: “Following significant cash flow issues which the business was unable to overcome, the OEM Group has unfortunately been placed into administration and we are now seeking to sell the rental fleet and realize assets for the benefit of creditors.
“We invite all interested parties to get in touch as soon as possible.”