2018 - The Year of the Investor
In times of market uncertainty, the first thought on all companies’ minds is consolidation & reduction
Specialist Valve Services took a different approach when faced with the market downturn, our Managing Director, Gerry Henry, believed the best way to navigate SVS out of this problematic market downturn was to diversify our service reach, and invest in staff as opposed to reducing them.
During this time we also invested in a brand new facility in Aberdeen, Scotland which included a state of the art valve workshop and testing facility. SVS almost doubled our existing staff count from 17 in 2015, to 32 by 2018, illustrating our desire to grow and develop a skilled work force.
We utilised the Oil & Gas downturn as an opportunity to train and develop our employees, remodelling our company and investing in new technology, services and capabilities such as valve repair, modification, testing and inspection.
This period also enabled SVS to evaluate its client’s changing needs and understanding the importance of prolonging the longevity of an operating asset.
Our exposure to coal face operations & rigours has led to the development of our regimented valve maintenance philosophy which enables us to identify GAPs in operator valve specifications, maintenance practices & procedures to produce bespoke output strategy solutions; all aimed at promoting optimal service life in our client’s valves and operating assets.
As a reaction we developed a valve maintenance procedure that incorporated the use of Root Cause and GAP Analysis on client valves and actuators that were currently in line within their assets.
SVS consolidated all of the above into its new brand of “Total Valve Management”, which facilitates the holistic management of a valve from the moment it is procured from us and installed in service, to the day it is no longer maintainable and has to be decommissioned.
SVS’s decision to buck the trend of cost reduction and redundancies during the Oil & Gas downturn of 2014, and invest in people and development programs has resulted in the company growing exponentially. We have significantly grown our existing client base, extending our reach on a global scale, working on Subsea & Topside projects in Brazil, Sakhalin, Qatar and most recently Malaysia.
SVS’s contractual work has also received a significant increase after we were re-awarded local and international valve maintenance and management contracts with major Oil & Gas operators. Working internationally has required SVS to re-evaluate our current supply chain model and how we source products for our clients.
This has resulted in SVS fine-tuning the relationships we currently have with manufacturers, leading to key agreements being implemented for exclusive representation of valve and actuated brands.
SVS has also continued to project manage a number of major North Sea critical path projects for major operators for highly specialist valves custom built for severe and challenging applications. These included 14” 900# double block and bleed ball valves, 2”-16” class 1500 and 2500 twin plug valves actuated in duplex material. 2”-24” class 900, 1500 and 2500 ball valves in LF2, F51 and F55 both manual and actuated. All valves delivered on or ahead of schedule meeting the most challenging conditions of the North Sea.
As we come to the half way point of the year, it is evident that 2018 has rewarded SVS’ decision to invest in people and their development, and that tough times never last, but tough people will.
Tel: 01224 278 840
Published in Valve User Magazine Issue 45
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