Value Added Oilfield Services (VAOS) Ltd was established in 1983 to provide a comprehensive construction and maintenance service to the oil, gas and petrochemical industry in Libya. At its inception VAOS was a discrete division of Voest Alpine AG, which at the time was the largest state-owned industry in Austria. Voest Alpine, with its headquarters in Linz/Austria, was then subject of a major restructuring programme leading to the formation of VA-TECH, an industrial holding company, at the time comprised of a number of smaller companies, such as Voest Alpine Machinery, Construction and Engineering (VA-MCE).
In 1994 VA-MCE opened a fully owned subsidiary in Malta, becoming the new head office of Voest Alpine Oilfield Services Limited. As part of a subsequent restructuring programme in 1997, VA-MCE sold off its shares to management; this led to the formation of the current company, Value Added Oilfield Services (VAOS) Ltd. Since then, VAOS has been operating successfully as an independent privately owned company.