Oliver Valves Wins Contract Offshore Qatar
Oliver Valves has won a £12.6MM contract to supply 105 of its large Twinsafe valves for a major oil-extraction project off the coat of Qatar.
The deal is the largest in the company's history and closely follows another record-breaking win a £7.2m deal with the biggest energy firm in Brazil, signed in August.
All of the units are 11"-bore double-block and bleed valves and will be deployed on the oil-extraction element of the project, which will involve the construction of three new offshore platforms.
Under the contract, Oliver Valves will also supply three tailored hydraulic actuation systems which will allow the valves to be opened and closed. All units will be built and tested at the Oliver's factories in Knutsford.
The project is scheduled for completion in 2013 with production expected to begin in 2014.
This project is the biggest single contract Oliver Valves has ever secured and closely follows another record win – a £7.2m deal with the biggest energy firm in Brazil, signed in August.
In light of the two record orders, Oliver Valves is planning to rapidly increase its production capacity by recruiting an additional 50 people.
David Cornwell, managing director of Oliver Valves said, "This is the second record-breaking contract we have won in the space of three months, and these two wins represent the culmination of a lot of hard work by both our sales and technical teams.
"We have secured this deal based on our strong history of delivering projects on time and within budget and also because of the advanced technical ability we have demonstrated during the system design stage."
Chairman, Michael Oliver said, "Delivering these two projects, coupled with the increased order book we are experiencing from all areas of the world that we operate in, will mean significantly increasing our production capacity in Knutsford, which will be a boost to the local economy and employment."