EPC Offshore exceeds business targets with highly successful first year
Posted by Odyssey Communications on Tuesday, April 20, 2010
Location
Aberdeen
Full Details
Oil and gas project delivery company focuses on project control, development solutions and facilities delivery
EPC Offshore, the Aberdeen-based oil and gas project delivery company established in 2009, has exceeded its own first-year business targets before its first year is half completed. Set up to assist existing and new operators to the North Sea - as well as major contractors, in all aspects of project evaluation and management up to successful sanction, EPC Offshore has grown from its start-up core team of three senior professionals to more than 20 staff in less than a year.
Chief executive Keith Wallace, whose 28 years of experience in delivering subsea oil and gas projects worldwide combines with that of fellow directors, Peter Kirkbride and June Bremner. Peter has a sound track record in delivering pre-sanction development work while June Bremner has extensive project control and financial experience. Keith Wallace believes the synergy between their skills is key to the success of the new business.
‘EPC Offshore is focused on working with North Sea operators to control, define and deliver offshore developments,’ he says, ‘and we recognise the constraints in place today as a result of the harsh economic climate and the importance of pre-sanction effectiveness.
‘Our success in our first year of business, with a turnover for our first year approaching £3 million, is a real achievement in this economic climate. We had set that figure for our second year’s target, so it is very satisfying, and it is undoubtedly down to our focused work, our solid experience and a good reputation for timely and cost-saving project completion.
‘We have developed our own highly effective and innovative Opportunity and Project Delivery System (OPDS) that directs and streamlines the progress of offshore opportunities towards sanction, and then onwards to project control and facilities execution.
‘Clients are already benefiting from our proprietary approach to the project pre-sanction phase and they recognise in our unique OPDS system a simplified version of the underlying ‘gated process’ that has become the gold standard in North Sea projects.’
Refined from many years of experience on pre-sanction work for established and new North Sea operators, the EPC Offshore OPDS is an outstanding professional tool for maximising project success and delivering a rapid return on investment. It also ensures that the goals and processes of the project’s stakeholders are aligned, a critical step for any North Sea project.
With tens of millions of pounds traditionally spent on the pre-sanction phase of a North Sea project, EPC Offshore is now supporting a number of companies with opportunities under evaluation – and this at a time when oil prices are variable and swift execution is key to economic success.
‘Today’s operators have quite rightly taken a ‘get it right first time’ approach, and the EPC Offshore team has a successful track record in exactly that,’ says Keith Wallace. ‘We know the North Sea industry, the deadlines, the critical steps, and the timescales needed to achieve a fully-commissioned facility, whether FPSO, topsides, subsea or a combination of installations. Stakeholder alignment is high up on that list of priorities.
‘A speedy return on investment is what really counts, especially as our economy is emerging from a deep recession, and major North Sea investments are required to deliver revenue as early and safely as can be achieved. That’s where EPC scores highly. Our staff numbers are just over 20 right now, and we expect that number to reach 30 in the coming months.’
EPC Offshore operates from its head office at 7 Albyn Terrace, Aberdeen AB10 1YP.
ends
20 April 2010
www.epcoffshore.co.uk
For further information please contact
Shirley Muir, Odyssey Communications 01224 317648
Keith Wallace, EPC Offshore 01224 656990
Category
Company News Release