Interventek Marks £10M in Deals with New Base
- Business & Finance
Subsea systems technology specialist Interventek has been awarded a multi-million-pound contract to supply three 10,000psi in-riser landing string completion systems for an international OEM client.
With this and other new business wins over the last twelve months valued in excess of £10 million, Interventek has relocated to larger facilities to better service the demand for its specialist Revolution valve technology.
Several significant contract awards have included the qualification and supply of a number of Revolution PowerPlus fail-safe shear-and-seal safety valves; a further two (six already delivered) 15,000psi Revolution valves to PRT Offshore in the US, to support well completion and intervention operations in the Gulf of Mexico; and three 15,000psi open water Revolution valves to Trendsetter Engineering in the US, that will form a part of their new lightweight intervention system.
Less than a year ago, Interventek announced its first phase of business expansion, adding office space, in-house testing facilities and new staff, but recent success has demanded a relocation to larger, modern premises at ABZ Business Park in Aberdeen, providing circa 20,000 square foot of office and workshop space, plus additional yard space, effectively tripling their footprint and dramatically increasing capacity.
The young, technology driven business was established by technical entrepreneurs, Gavin Cowie and John Sangster, during the downturn of 2014, after seeing a gap in the market to supply an innovative subsea safety valve solution which would address critical industry requirements.
More recently, and with industry backing, Interventek has diversified its product range with the addition of compact control system and a full subsea in-riser landing string completion and intervention system – resulting in this most recent supply contract.
The company now employs twenty-five staff at their Aberdeen headquarters and expect these numbers to increase to thirty by the summer.
Gavin Cowie, managing director of Interventek, said: “With innovative in-house engineering, our core valve technology uniquely addresses critical performance issues faced by other shear-and seal well control valves. For the first time, it offers operators a reliable safety solution whilst reducing the component size, complexity and cost of subsea intervention and completion systems. This will also enable deeper water and higher temperature applications and will increase industry efficiency and production for many more years to come.
“We have been well rewarded with commercial success since our core technology was qualified and are very grateful to the operators and service companies that have supported us throughout the process. But this is just the start, and we are excited about what is to come in future, with a forecast increase in product manufacture and supply plus further technology development in the pipeline.”