From its base at Inverurie near Aberdeen, Phoenix Petroleum Services advises oil-industry clients from Venezuela to Indonesia on the most efficient ways of extracting oil and gas. Its expertise in designing oil wells has driven up profits by 73% a year from £957,000 in 1998 to £4.9m in 2001, when the company had 65 staff. The oilfield-services giant Schlumberger bought Phoenix last October for an undisclosed sum.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.