Zenith’s Technology Wins Queen’s Award for Enterprise (UK)
- Business & Finance
A pioneering automated surveillance system developed by Zenith Oilfield Technology, a Lufkin company, has won the company’s third Queen’s Award for Enterprise.
Zenith’s Z-Sight system scooped the top honour in the Innovation category, which was announced on April 21.
It is Zenith’s first Innovation award after two previous wins in the International Trade category in 2009 and 2011, and they are the only Scottish company to be awarded the Innovation honour this year.
The Queen’s Awards acknowledge outstanding achievement by UK businesses.
As winners, Zenith receives a grant of appointment, a presentational item and an invitation from HM The Queen to a reception at Buckingham Palace.
The company has invested more than £1.2million to develop its market-leading Z-Sight system, which has been designed to improve efficiency and production of wells which require downhole pumping systems to bring oil to the surface.
The innovative technology gathers data from the wells’ instruments and provides an efficient management tool, in a one-look screen. This delivers real-time recommendations on how best to operate the well to achieve optimum production within the limitations of the lifting equipment.
The system is already having a profound effect on well management around the globe, saving operators millions of pounds and significantly increasing production. Major oil operators have been impressed with the results internationally. The system’s abilities were proven in well trials in South America, increasing production by up to 30% per day.
Greg Davie, general manager of Zenith, said: “It is a huge honour that Z-Sight has won this prestigious award. After two awards in the International Trade category, we are absolutely delighted to have been recognised for Innovation. Zenith’s philosophy is to listen to our customers’ needs and to think outside of the box to develop technologies that will improve the client’s operational efficiency and productivity. Our innovation comes from having an energetic development team that pursues solutions to challenging problems that are both economic for the market and game-changing technically.”
Zenith Oilfield Technology operates in the artificial lift sector of the global oil and gas industry. Established in 2004, and headquartered in Aberdeenshire, UK, Zenith now employs 100 staff operating out of more than 30 countries.
The company designs, develops, assembles and supports pioneering industry leading technologies to enable optimum recovery from customer wells through the gathering and analysis of downhole data. Zenith also specialises in the design of innovative well completion equipment to reduce operator downtime and intervention costs.
Press Release, April 23, 2013