Qedi Sets Sights Beyond Growth Target in 2010

Global oil & gas commissioning and technology leaders qedi is set to exceed its growth target in 2010 after winning seven new contracts totaling £5.5 million in January. The Aberdeen-headquartered company, which anticipates a growth rate of up to 40% this year, is already on target to achieve more than 20% of this.

qedi, which reported a turnover of more than £38million last year, has also increased sales of its pioneering Go Technology web-enabled project management system licence by 150% over the last three years. During the same period, qedi trebled its number of employees from 100 to more than 300 and expects to recruit a further 60 core staff over the next 12 months.

Among qedi's latest business wins are contracts awarded by BP, AGIP, Lundin, Marathon, Talisman and BG Group.

Stuart McLeod, qedi managing director, said, "qedi has successfully achieved considerable growth by progressively capturing a significant share of the global completions and commissioning management market place. We are already involved with more than 40 major capex and operational oil and gas projects in Australasia, the Caspian, the Gulf of Mexico, Alaska, West Africa, Europe and the North Sea.

"The additional new contracts reinforce qedi's capabilities and further strengthen the foundations for our ambitious growth. In the last 12 months, our carefully-developed business strategy has seen qedi become a main player in the field of managing flawless completions and commissioning delivery. qedi is now strongly positioned to capitalise on future opportunities for continued growth and expansion."

qedi has rapidly emerged as a market leader in the international oil and gas arena by successfully carving out a niche for itself as a completions and commissioning management specialists, underpinned by its pioneering technology called GO Technology™.

GO Technology™ is having a significant impact on the industry globally and is referred to as "industrial Microsoft" by many of its users. The web-enabled project management suite of software, which integrates traditional oilfield skills with new technology, provides specially-developed and comprehensive programmes for the management and execution of both commissioning and start-up of oil and gas facilities.

GO Technology™ is being used globally on new and existing platforms, FPSOs, refineries and subsea projects. In 2009, qedi secured global partnership agreements with both BP and Shell which means that systems of GO Technology™ suite is now 'best practice' for use on any the oil majors' exploration and production projects.

The international success of the company's Go Technology™ and completions services are now mirrored in the North Sea with new contracts with Lundin, Talisman and BG Group.

qedi has also been awarded two multi regional license agreements with BP -- one for nine assets in the Azerbaijan and another for 16 assets covering the UKCS. The agreements each involve a qedi engineering team to support technical integrity and data migration.