By identifying gaps in the well services market and working closely with established international partners, Wellvene has significantly expanded its global reach over the last three years.
The Dyce-based design engineering firm is still a relatively new player in the energy industry, established just four short years ago. But with a nimble and strategic approach, Wellvene continues to grow its team, expand its offering and bring innovative technology solutions to the well intervention market.
A large part of Wellvene’s recent success comes from its expansion into new international markets through strategic global partnerships.
Firstly moving into Australia, Wellvene began working with the oilfield equipment supplier R&D Solutions in 2018 following the successful design of a bespoke tool for one of its customers. Widely regarded as the “entry-point” for some of the world’s leading oilfield technology companies, the partnership has allowed Wellvene to enter and begin to grow its reputation in this prosperous region.
Subsequently, Wellvene identified opportunities in Norway, partnering up with highly-respected GS Oilfield Solutions AS to deliver services and technologies to the area that were currently serving the UK market.
Bronson Larkins, Managing Director of Wellvene, commented: “Even with our expansion, the ethos of Wellvene has remained the same. We are a solutions-based company through and through. Because of this, the business has naturally evolved – we are proactively identifying the gaps within interventions where we believe a new service or tool may be required to support a changing market. We strive to identify these viable business opportunities and continually adapt to suit the needs of the industry.”
Wellvene is also beginning to establish a presence for our products and services in the Middle East, particularly in Qatar, and in the Far East in locations such as Malaysia.
To meet the demands of this international business growth, Wellvene recently moved to new premises in Dyce. Allowing more space for its growing team, the new location also provides a much larger space for manufacturing, assembling and testing the company’s ever-increasing range of tools.
The larger facility has allowed for Wellvene to offer storage services for some of its clients’ downhole tools, which, through its recently introduced Barrier Management Service, allows the company to store, maintain and, where necessary, adjust equipment for compatibility to minimise clients’ spares and inventory requirements.
Encouraged by the company’s growth, even amidst a global pandemic, Bronson added: “From 2017 onwards, Wellvene has seen year on year growth. No one could have anticipated the seismic shift that the pandemic instigated. As Operators change their priorities, we modify our solutions, and that’s what we’ve kept doing throughout the pandemic.
“Having also begun our expansion into other global locations back in 2018, we mitigated a lot of the damage brought on by the slowing of the UK energy industry. That’s not to say it was easy to come through 2020, far from it. But as a team, we believe in our business strategy and that there is a requirement for our products and services globally.”