Page 18 - MRDS PR REPORT - OCTOBER 2023

10/5/23, 5:14 PM MRDS Group on track for strong year-over-year growth in 2023 Q4
aimed at maximising production capacity and profitability in the current high-price environment are
expected to further propel the market during the forecast period.

With a dedicated team based in Jebel Ali, MRDS Group has been actively supporting international
clients in the UK, Middle East, West Africa, Indonesia, and Malaysia. Notably, the company recently

obtained the prestigious American Petroleum Institute (API) Q2 Accreditation, demonstrating its
commitment to delivering efficient services to stakeholders. The API Q2 specification represents the
first-ever quality management system (QMS) certification for service supply organisations in the oil and
gas industry.

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Under the leadership of Ian McGillivray, Managing Director, Marc Currie, Operations Director, and Ryan
Coats, Sales Director, the company's UAE branch has transformed from a team of UK-based engineers
to a multinational team of highly skilled engineers, and plans to hire more local talents in order to

enhance the firm's scope of services. This strategic move has resulted in several major contracts with
international drilling contractors and national oil companies. With the aim of becoming the leading
aftermarket service provider for drilling equipment in Abu Dhabi, MRDS has also signed a contract with
Al Yaseah, who will serve as an agent to support the company’s growth within Abu Dhabi specifically.

Ian McGillivray expressed his optimism, stating, "The MRDS Group is well-positioned to seize the

opportunities presented by the MENA region's oilfield services market, which is projected to reach USD
41.73 billion in the next five years. We believe that the ongoing development of the market offers a range
of expansion possibilities that we can capitalise on to deliver favourable results."

"Since opening our state-of-the-art facility in Dubai's Jebel Ali Free Zone in 2021, MRDS Group has

experienced significant growth in our customer base, allowing us to support international clients across
the UK, Middle East, West Africa, and Indonesia. With a strong lineup of new agreements, the API Q2

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