History of Tasman Oil Tools
Early Days 1980 → 1996
Tasman Oil Tools Ltd was originally registered in New Zealand in 1980 following the sale of Drexel Offshore Services based in Singapore which was active in the 1970’s and its first major contract was the geothermal project at Ngawha. A branch office was then opened in Perth later becoming Tasman Oil Tools Pty Ltd.
Tasman New Zealand and Tasman Australia 1996 → 2010
In 1996 the ownership structure changed following new ownership with the New Zealand Company and the Australian company trading as standalone separate legal entities. There was then no financial connection between the two companies, although there were occasional cross hires. The late 1990’s was a difficult time for oil service companies, with the oil price dipping to $10 per barrel but importantly both businesses survived and used this period to refocus their business models.
Tasman Joins Northbridge Industrial Services 2010
In July 2010 following a lengthy period of due diligence and negotiation Tasman Oil Tools Pty Ltd (Perth Australia) was acquired by Northbridge following a successful placing with all personnel and former owners being retained. The management team was then strengthened with additional senior managers.
Tasman Expands into The Middle East 2013
In November 2013 Northbridge was able to secure the trade, assets and personnel of OMM BVI based in Abu Dhabi. OMM BVI was founded in 1989 and is a leading rental provider of oil tools to the oil and gas industry in the Middle East. The business now trades under the Tasman banner and has been relocated to Northbridge’s existing premises in Dubai.
Purchase of Tasman New Zealand and Rebrand 2014 → 2015
In September 2014 the purchase of Tasman Oil Tools Ltd (New Plymouth New Zealand) was completed following a successful placing in with all staff being retained by Northbridge.
In 2015, Tasman Global Operations rebranded under Tasman Oil Tools Group (“Tasman”) to adequately reflect our position in the market and continuous growth.
Tasman and Olio Set To Expand in South East Asia 2017
In October 2017, Tasman Oil Tools Group (“Tasman”) and OLIO Resources Sdn Bhd (“OLIO”) formed a new Joint Venture entity, OLIO Tasman Oil Tools Sdn Bhd (“OLIO Tasman”) located in Malaysia. The venture combines the resources, expertise and capacity of both Companies, to supply Drilling Rental Tools, Wellbore Clean Up and Pressure Control Solutions to the South East Asian region.
The enlarged oil tools group increases Northbridge’s presence in the Middle East and APAC regions and is an excellent strategic and geographic fit.