Petrotechnics, the global leader in transforming the efficiency and effectiveness of frontline operations in the oil and gas industry, has announced the opening of its new office in Singapore, a move that has the potential to present more than £150million ($250million) of new business opportunities.
Petrotechnics has already secured a joint contract through its channel partnership with Ara Techbis, with Shell Sabah Petroleum Company (SSPC) awarding it the £150,000 ($250,000) project following a competitive tender process. Work to deploy the company’s electronic integrated safe system of work, Sentinel PRO® is set to commence in November, with further opportunities expected to follow. Staff in Kuala Lumpur are presently undergoing training so that they can use the system during the commissioning of the platform.
George Barry, Petrotechnics’ regional manager for the Asia Pacific region will head up the new office, promoting Petrotechnics work execution solution, Sentinel PRO®, to the Far East oil and gas sector.
Sentinel PRO® recognises and overcomes the challenges in the unstructured and dynamic nature of managing operations, maintenance and associated activity in the hazardous process industries. It manages frontline work execution by pulling together procedures and documentation, including risk assessment, isolations control and permits to work, into a single integrated system.
Petrotechnics already has corporate agreements in place with six out of the top ten global oil and gas majors and boasts a market share of over 85% in the UK continental shelf with 40% of the market in deepwater Gulf of Mexico.
Executive vice president, Iain McKay, believes that the expansion will open up further opportunities for Petrotechnics, but will also provide added value to its current clients. He said: "With a number of new projects in the pipeline and the potential for further opportunities in the region, the decision to have an office and team based in Singapore was the next logical step for us.
“A local presence is a prerequisite in order to succeed. We have just completed training for the BP Angola PSVM recently built in Jurong Island by MODEC and the prospective market for us in the Far East region has the financial potential to reach more than £150million in oil and gas alone. This move demonstrates our active approach in the implementation of our growth strategy.”