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Natchiq Inc., the Alaska-based oil services and construction firm, is on a major expansion roll aimed at more fully developing the companies full-services capability and diversifying its business.
The company, a subsidiary of Arctic Slope Regional Corp., is making is first major foray outside Alaska. Natchiq is now one of Alaska's major employers, with 3,300 employees this year, and also is listed by Engineering News Record among the upper 30 percent of the nation's top 400 engineering, construction and services companies for the oil and gas industry.
Company president Bill Cheek says Alaska will always be home base. But while things are bustling now in the state's oil patch, Natchiq's home turf, there's a lot of uncertainty in the future.
If Natchiq wants to keep growing and meet a goal of $500 million in annual revenues by 2003 (they are $330 million this year) the company must spread its wings, Cheek said. To achieve that goal, 50 percent of the company's business will have to be outside Alaska by 2003, he said.
Natchiq owns Houston Contracting Co., the state's leading pipeline contractor, and Alaska Petroleum Contractors, a major oil services and construction firm.
To develop an engineering capability, Natchiq formed a joint venture last year with Parsons Engineering to create ASRC Parsons Engineering LLC.
Last March, Natchiq acquired 80 percent of Omega Service Industries, a Louisiana-based offshore platform fabricator and maintenance contractor, and maker of instrumentation systems.
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