SPEX Doubles Turnover

MarineLink.com
Thursday, June 13, 2013
Ryan Strachan, CFO at SPEX. The company offers a full turnkey service from concept and modelling to end products.

SPEX Group, an Aberdeen-headquartered provider of innovative technology solutions and services to the global oil and gas industry, is investing in one of the U.K.’s smartest supercomputers capable of carrying out more than 100 trillion operations per second.

The supercomputer, dubbed the Claymore, is being developed in partnership with Dell and ANSYS and can solve problems at least 20 times faster than the industry norm. It will incorporate 75 times the RAM of a High-end workstation, allowing enhanced processing and graphics capability on complex simulation and modeling problems.

The Claymore has been designed for maximum flexibility using the latest computing technologies and leverages the recent technological advancements in GPU’s – both in the GPU hardware itself, and the ANSYS analytical software which can now utilize GPUs to accelerate the analysis. The Claymore computing cluster at SPEX comprises 14 interconnected machines (compute nodes) and one head node to control the system and distribute the work.

In addition, SPEX has continued to invest in the latest CNC machining equipment bringing total investment to more than £5.2million. This investment builds on the Group’s ability to deliver cutting-edge, innovative technologies such as the Emergency Severance Tool (EST), which SPEX is working on in partnership with Shell.

Additional capacity and facilities also have been taken on, including a fabrication and testing facility in West Tullos, adding a total covered area of 2,000sq m.

News of the investment came as SPEX, identified as Scotland’s fastest growing young company in 2011 by Business Insider, posted its annual results to December 31, 2012 revealing near 100% turnover growth, up to nearly £14million. Approximately 80% of work is for the international market. Double digit turnover growth is expected again in 2013 with technology development projects ongoing with a number of operators and service companies.

A start-up business only four years ago, staff numbers at SPEX have increased from around 70 to 100 in recent months. Approximately 30 new positions will be created over the next year.

The last 12 months has seen major changes at SPEX to position it for future growth. Experienced industry figures Jamie Oag and Nadir Mahjoub were appointed Chief Executive Officer and Chief Operating Officer respectively, whilst the Group has been structured into business areas to ensure the best service for clients.

SPEX has made two acquisitions to date, and Mr. Oag said he expected more to follow: “Potentially, small businesses with innovative products or IP but without the wherewithal to take it to the next level. Our focus is on applied engineering encompassing the science behind the innovations so we are always on the look-out for like-minded businesses and individuals.’’

The SPEX Group comprises three key business areas – Engineering & Technology Innovation (ETI), Production & Fabrication and Field Services – working with clients including both major oil & gas Operators and service companies.

ETI comprises multi-disciplinary in-house teams and industry-leading engineering, modeling, testing, machining and manufacturing capabilities delivering a sophisticated, full turnkey service from concept to completion.

Production & Fabrication provides state-of-the-art CNC machining capability both as part of turnkey client projects and also on a stand-alone basis, for customers with rapid turnaround needs.

Field Services provides a range of innovative products and bespoke solutions including in the areas of pipe cutting, recovery and well abandonment, offering cost-effective results.

SPEX has international reach, providing services across the globe. It has ISO 9001, 14001 and OHSAS 18001 accreditation.
 

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

People & Company News

BHP Bullish on Caval Ridge's Prospects

Yesterday BHP Billiton Coal President, Dean Dalla Valle, was joined by the Hon. Tony Abbott MP, Prime Minister of Australia, and joint venture partner Mitsubishi in a ceremony to open the US$3.

Vice Presidents Rejig at Caterpillar Inc

Following the previous announcement regarding two group presidents’ retirements and new responsibilities for another group president, Caterpillar Inc. (NYSE: CAT)

Keppel Logistics Expands in Australia

Keppel Logistics Pte Ltd, a wholly owned subsidiary of Keppel Telecommunications & Transportation Ltd (Keppel T&T), has expanded its logistics capabilities down

Technology

Northrop Grumman Sponsors Maritime RobotX Challenge

Northrop Grumman Corporation is expanding its support for science, technology, engineering and math (STEM) education across the globe by sponsoring the Maritime RobotX Challenge in Singapore, Oct.

Can Oil & Gas Superpower Lead on Climate Change?

A day before President Barack Obama addressed the United Nations to declare the nation is "stepping up to the plate" to tackle climate change, nearly 400,000

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering

News

Autonomous Technology for Offshore Wind Farm

ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles

BHP Bullish on Caval Ridge's Prospects

Yesterday BHP Billiton Coal President, Dean Dalla Valle, was joined by the Hon. Tony Abbott MP, Prime Minister of Australia, and joint venture partner Mitsubishi in a ceremony to open the US$3.

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

Electronics

Northrop Grumman Sponsors Maritime RobotX Challenge

Northrop Grumman Corporation is expanding its support for science, technology, engineering and math (STEM) education across the globe by sponsoring the Maritime RobotX Challenge in Singapore, Oct.

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

New Bahamas Northwest Chart Set Upgrade

nv charts announces the release of its newly updated chart set for Region 9.1, Bahamas Northwest, including Bimini and Berry Islands, Nassau to Abaco, and Grand Bahama,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Sonar
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: 0.3116 sec (3 req/sec)