Zenith Oilfield Technology was presented with a third Queen’s Award for Enterprise yesterday.
Lord Lieutenant for Aberdeenshire James Ingleby visited the firm’s Inverurie headquarters and had a tour of the premises.
The Queen’s Awards acknowledge outstanding achievement by UK businesses and Zenith was the sole Scottish company to win the innovation award in April for its automated oilwell surveillance system, Z-Sight.
Mr Ingleby said: “I’m delighted to be here representing the Queen to present Zenith with a third Queen’s Award. I believe innovation is the most exciting award and the Z-Sight technology is a huge leap forward for the oil and gas industry.”
It was Zenith’s first innovation award after two previous wins in the international trade category in 2009 and 2011.
General manager Greg Davie said: “It is a great honour to be presented with our third Queen’s Award in just five years. Being the only Scottish company to be named winners of the innovation category shows just how tough it is to be recognised, and we are all extremely proud of what we have achieved.”
The company has invested more than £1.2million to develop its Z-Sight system, which was designed to improve efficiency and production of wells which require downhole pumping systems to bring oil to the surface. Zenith said the system was already having a profound effect on well management around the globe; significantly increasing production and delivering millions of pounds in additional customer revenue.
It added that major oil operators had been impressed with the results. Typical installations are said to be showing from 7% to 50%-plus increase in production potential from each well, even on wells thought previously to be fully optimised. Zenith was established in 2004 and now employs more than 120 staff operating out of 30-plus countries.
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