Petrotechnics Secures Investment From BGF

MarineLink.com
Thursday, May 30, 2013
(L-R): Petrotechnics' CEO, Phil Murray and Mike Sibson, BGF Investment Director.

Petrotechnics, a global software solutions company, announced the completion of £6 million investment from Business Growth Fund (BGF).

The investment will help fuel the next stage in the company’s aggressive global growth strategy in new geographies, new talent acquisition and ongoing innovation, including the continued global roll out of its enterprise operational performance and predictive risk software platform, Proscient.

Based in Aberdeen and with offices in Houston, Singapore and Saudi Arabia, Petrotechnics’ systems already play a vital role in maximizing production potential and reducing operational risk across more than 385 sites on six continents. In excess of 50,000 personnel from some of the biggest oil and gas companies use Petrotechnics’ technology on a daily basis, with systems installed in more than 80 percent of the North Sea and 40% of Gulf of Mexico assets.

Petrotechnics’ a leading enterprise software platform, Proscient provides an easier and more dynamic approach for senior management to proactively manage the organization to optimize performance reduce risk. Proscient manages the execution of frontline work safely and efficiently to help companies maintain asset integrity, workforce safety and the achievement of production targets.

Unlike the older generation of inflexible and static tools such as paper based Permit to Work and Electronic Permit to Work/ISSoW systems, Proscient provides an organization with the capabilities to consistently manage workload against risk according to policies across the organization whether it’s one plant or a global enterprise.

Proscient is designed from the ground up as a robust and flexible off the shelf enterprise application enabling streamlined deployment and ease of use. It delivers hard ROI within months, specifically with a reduction in the number and length of unplanned shutdowns, a decrease in permit and contractor wait times, significant improvements in plan accuracy and plan attainment and most importantly with a positive change in the strength of the organization’s ‘at the plant face’ safety culture. As an enterprise platform Proscient provides further business value through its integration with other leading enterprise systems used by hazardous industries including IBM Maximo, SAP, Oracle Primavera and Microsoft Project.

It also leverages strategic big data to drive continuous improvement of operational performance. With data on every aspect of work that has occurred and more importantly with what is to come across frontline operations, senior management can use Proscient’s integrated actionable analytics for the insight and enhanced decision making to move the organization from reactive to proactive management. This consistent generation of data provides the capability to generate role specific metrics that are informative, actionable and improve decision making from the frontline to the boardroom.

BGF was established to provide growth capital to the U.K.’s small and medium sized businesses. Petrotechnics represents its fifth investment in the oil and gas sector and brings the total invested by BGF in Scottish SMEs to date to £30 million.

Prior to founding Petrotechnics, CEO Phil Murray worked internationally for BP for 10 years in a variety of technical, operational and managerial roles. The business has won a number of industry awards from organizations including the Energy Institute and the Institution of Chemical Engineers, is regularly selected by the Society of Petroleum Engineers to present conference papers.  

 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Container Manufacturer Reports Profit Plunge

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

CACI Named MSC Logistics Prime Contractor

CACI International Inc says it has been selected as a prime contractor to provide logistics support to the U.S. Navy’s Military Sealift Command (MSC) on the Worldwide

Iconic Star Ferry in Move to New Wan Chai Pier

With effect from the first departure on Saturday 30 August 2014, Hong Kong's “Wan Chai – Tsim Sha Tsui” ferry service will operate from the new Wan Chai Ferry Pier.

Technology

TMT CEO Files $100m IP Suit Over Vessel Sale

Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.

MN 100: Dometic Marine

2000 N. Andrews Ave. Ext. Pompano Beach, Florida 33069 Tel: (954) 973-2477    Email: ned.trigg@dometic.com Website: www.dometic.com CEO: Roger Johansson President:

Harris Secures Certification for its Multi-channel Manpack Radio

Harris Corporation (NYSE:HRS) has received Type-1 National Security Agency (NSA) certification for its Falcon III® RF-340M multi-channel manpack radio. The certification

Marine Electronics

Krill Supplies VFMMS to Island Tug and Barge

Krill Systems Inc., a producer of Vessel Fuel Measurement and Monitoring Systems (VFMMS), announced delivery, installation and successful sea trials of three more systems to Island Tug and Barge Ltd.

Harris Secures Certification for its Multi-channel Manpack Radio

Harris Corporation (NYSE:HRS) has received Type-1 National Security Agency (NSA) certification for its Falcon III® RF-340M multi-channel manpack radio. The certification

Northrop Grumman Enhances VMFT Software

Northrop Grumman Corporation announced that its latest VisionMaster FT (VMFT) software now includes ADMIRALTY Information Overlay (AIO) as an integral element of

Energy

Chilean Court Rejects Appeal Against Crow River Project

Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the

EMGS Reports 2Q and 1H 2014 Results

Electromagnetic Geoservices ASA's (EMGS) reported revenues of USD 42.5 million in the second quarter 2014, down from USD 61.3 million in the first quarter this year and from USD 44.

Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG

Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood

Software Solutions

IMB: Guard Against Threat of Cyber Attacks

The International Maritime Bureau (IMB) is calling for vigilance in the maritime sector as it emerges that shipping and the supply chain is the ‘next playground for hackers’.

Northrop Grumman Awarded Navy IT Contract

Grumman Corporation informs it has been selected by the US Navy as one of five contractors for the Consolidated Afloat Networks and Enterprise Services (CANES)

New Offshore Vessel Management Mobile App

Telerik says that its customer Bhagwan Marine, a leader in servicing the oil and gas industry, together with partner, Glenfield Digital Group, has released the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3358 sec (3 req/sec)