Specialist drilling waste management company, TWMA*, has published its second quarter results for 2025, with increased revenue of $18.6million and EBITDA of $5.1million. The results are testament to successful activities in the UAE and increased utilisation for TWMA’s RotoMill** technology.
Tightening environmental regulations and increased adaptation of carbon reduction strategies are driving increased demand for the firm’s RotoMill fleet.
In the UAE, drilling operations continued on all four islands for the ‘Upper Zakum’ project with the previously announced one year extension until June 2026. Included as part of this contract is the provision of ‘skip and ship’ services supporting four Jack Ups, up from two in Q4 2024. As a result, TWMA has seen revenue increase by over 200% under this region in the quarter. Construction work on our onshore processing facility in the UAE – which will be the largest dedicated such facility in the world – also continues to plan, with first drill cuttings expected in Q3 2025.
In Egypt, the last quarter has seen positive operations in the region for the onshore facility and RotoMill, including achieving 15 years of operations without a Lost Time Incident (LTI) for the Egyptian Business Unit.
Commenting on the latest results, TWMA CEO, Halle Aslaksen, said: “I am pleased to report continued progress for TWMA this quarter as we build on a successful year so far. Safety of our people remain our number one priority and continue to be the foundation of our success.
“As a team, we will remain focused on building our capabilities and ensuring we invest in our global operations to ensure we are best placed to achieve our goals in the future. We are excited with progress in key regions and our strategic initiatives for expansion whilst continuing to position the Group for future fiscal challenges and market changes.”
