INDUSTRY NEWS
Paradigm’s Dry-Flo® Secures Two Important Project Wins
Paradigm Group, headquartered in GrootAmmers, The Netherlands, was recently awarded two significant Master Service Agreements with two leading offshore Operators. The new contracts involve projects to be carried out in West Africa and the Mediterranean Sea.
Paradigm will perform fire deluge inspection, verification and dry testing services using Paradigm Dry-Flo® digital technology. DryFlo® was chosen for its waterless solution, enabling the operators to meet fire safety and environmental regulatory compliance while limiting long-term corrosion effects.
“The awarding of these new contracts in West Africa and the Mediterranean recognized Paradigm Dry-Flo® digital technology as a cost-effective, sustainable and innovative alternative solution to traditional wet testing methods. We are glad to support the environment and regulatory compliance while saving operators the additional cost of wastewater containment, treatment and disposal.”
“Paradigm is proud of its cross-industry innovative technology and value-added services that enable waterless fire suppression system testing in an intelligent, clean, sustainable and reliable manner,” Daniel McCormick, Director of Fire Services at Paradigm Group, commented.
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Oil Plus Wins Trio of New Awards in UKCS, India and Africa
Specialist oil and gas consultancy Oil Plus Ltd has secured a number of significant international contract awards totalling more than £1.5million in the first half of this year, signalling that it is on track to increase its revenues by 50% and meet its conservative £4.75million growth target by 2023.
The Newbury (Berkshire, UK) headquartered business, which also has an office in Aberdeen, has signed deals including a 12-month production chemistry agreement with a North Sea FPSO operator worth a seven-figure sum, a chemical testing project for Vedanta
(Cairn India) in India, and a water injectivity study for SNEPCO, the operating arm of Shell in Nigeria.
Despite the challenges caused by the coronavirus pandemic, the global process and production oilfield solutions company ended last year with a buoyant order book worth over £3.2million, and EBITDA had increased for the third year in a row, with its operating profits up by 23%.
Clarke Shepherd, Global Business Development Director at Oil Plus said: “Like most businesses, the Covid pandemic coupled with the uncertain oil price caused several bumps in the road last year. We took prudent measures to maintain our
competitive edge and ensure we were able to continue supporting our clients around the world with the same high standard of reliable services they are accustomed to. At the same time, we maintained a tight control on our overheads in line with the size of our business and as a result, we’ve started the 2021 fiscal year in a more robust position, with a number of new strategically significant contracts secured.
“Based on the recent trio of contract awards in the North Sea, India and Africa and a steady pipeline of further new business on the horizon, we are confident that our instantly scalable team and further organic growth will support our target being achieved by the end of 2023.”
October 2021
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