EPC Offshore Exceeds First-Year Expectations

EPC Offshore exceeded its own first-year business targets before its first year is half completed. EPC Offshore has grown from its start-up core team of three senior professionals to more than 20 staff in less than a year.

Chief executive Keith Wallace, whose 28 years of experience in delivering subsea oil and gas projects worldwide combines with that of fellow directors, Peter Kirkbride and June Bremner. Peter has a sound track record in delivering pre-sanction development work while June Bremner has extensive project control and financial experience. Keith Wallace believes the synergy between their skills is key to the success of the new business.

"EPC Offshore is focused on working with North Sea operators to control, define and deliver offshore developments," he said, "and we recognize the constraints in place today as a result of the harsh economic climate and the importance of pre-sanction effectiveness.

"Our success in our first year of business, with a turnover for our first year approaching £3 million, is a real achievement in this economic climate. We had set that figure for our second year’s target, so it is very satisfying, and it is undoubtedly down to our focused work, our solid experience and a good reputation for timely and cost-saving project completion.

"We have also developed our own highly effective and innovative Opportunity and Project Delivery System (OPDS) that directs and streamlines the progress of offshore opportunities towards sanction, and then onwards to project control and facilities execution.

"Clients are already benefiting from our proprietary approach to the project pre-sanction phase and they recognize in our unique OPDS system a simplified version of the underlying ‘gated process’ that has become the gold standard in North Sea projects."

Refined from many years of experience on pre-sanction work for established and new North Sea operators, the EPC Offshore OPDS is an outstanding professional tool for maximizing project success and delivering a rapid return on investment. It also ensures that the goals and processes of the project’s stakeholders are aligned, a critical step for any North Sea project.

With tens of millions of pounds traditionally spent on the pre-sanction phase of a North Sea project, EPC Offshore is now supporting a number of companies with opportunities under evaluation – and this at a time when oil prices are variable and swift execution is key to economic success.

"Today's operators have quite rightly taken a get it right first time approach, and the EPC Offshore team has a successful track record in exactly that,’ says Keith Wallace. "We know the North Sea industry, the deadlines, the critical steps, and the timescales needed to achieve a fully-commissioned facility, whether FPSO, topsides, subsea or a combination of installations. Stakeholder alignment is high up on that list of priorities.

"A speedy return on investment is what really counts, especially as our economy is emerging from a deep recession, and major North Sea investments are required to deliver revenue as early and safely as can be achieved. That's where EPC scores highly. Our staff numbers are just over 20 right now, and we expect that number to reach 30 in the coming months."