Welltec defies oil industry downturn

Danish oil service company Welltec managed to dodge the sliding oil prices and weakened offshore activity, factors that have sent many other international suppliers tumbling down.

- | Photo: Copyright Welltec®

Danish oil service company Welltec maintained both growth in revenue and growth in profits in 2014, according to the company's annual report.

"Strong activity growth and improvements in the sales mix reflected an increased focus on promoting the strength of our value proposition, although the US dollar appreciation provided a stern headwind. Continued operational success increased activity with our largest clients and underpinned the further expansion of our global footprint," Welltec writes in comments to the report.

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