Oliver Valvetek Tackles Oil and Gas Extraction Costs
Oliver Valvetek Tackles Increasing Oil and Gas Extraction Costs with Innovative Valve Solutions With Oil and Gas resources depleting quickly, the pressure is on for Valve Manufacturers to deliver innovative valve solutions that are able to withstand strenuous operating conditions, while allowing for a reasonable profit margin for the end user.
Over the past five years, the total costs associated with extracting Oil and Gas from subsea reserves is increasing year-on-year. As reserves get increasingly difficult to reach, it is down to the industry to innovate new concepts while keeping operating costs low. For Oliver Valves, reliability and affordability have always been at the forefront of their business, as Paul Shillito, Engineering Director of Oliver Valvetek explains: Oil and Gas extraction operators are continuously looking to reduce overheads and increase operating profits, whilst maintaining a safe environment that operates at maximum efficiency. For most, the number one question is, can we extract the fuel out safely and leave a sufficient profit margin to make the extraction worthwhile continues Paul. In the past, Oil and Gas reserves have been abandoned as extraction becomes non cost-effective.
The more Oil and Gas that is extracted from a reservoir, the more difficult and pricey it gets to continue extracting from that same reservoir. As such, many operators simply shutdown shop and move onto other ventures even though there may be considerable amounts of Oil and Gas in the reserve. Oliver Valvetek invests a significant amount of money and resources into tweaking and testing our existing concepts. We are not a stagnant company, and we donât innovative a concept and hope it will last for years to come.
We place ourselves at the forefront of the Valve industry by consistently pushing the capabilities of our existing equipment to meet the ever increasing challenges faced by our customers, explained Shillito. One way Oliver Valvetek is innovating is through the use of potentially new materials that offer high-performance yet cost-effective alloys.
The in-house material science specialists at Valvetek are looking for ways to reduce the costs associated with extraction from reservoirs that are less chemically pure. But, all of this innovation has to be done with reliability in mind, as Paul explains. Our emphasis on innovation is backed up by extremely robust quality controls. All of our new products and materials pass through exhaustive in-house and external testing controls, where we simulate real-life conditions. This process ensures beyond doubt the high-quality performance of our valve solutions. If a single valve fails and develops a leak path under water, then emergency measures are instantly put into place.
The Oil and Gas project is typically shut down while the damage is evaluated. This process may involve attempting to repair the valve, or even ordering a new valve part which could take weeks to source. This implicates massive financial losses and potentially even a long-term environmental impact if a leak develops. Failure is not an option, and weâve built our brand on that foundation. Our customers come to us because we demand reliability from our valves in the most demanding conditions.
The Future for Oil and Gas Extraction Researchers have estimated that the world will benefit from at least 50 more years of stable Oil and Gas production. Oil and Gas operators will continue the quest for extracting deeper, less pure and harder to reach Oil and Gas reserves. With this in mind, itâs safe to say that Valve Technology will continue to play a crucial part in the extraction process. For many of the worldâs leading operators, there are three fundamental boxes that valve manufacturers need to tick. The first â all subsea valves should not be economically prohibitive, and the second â that the use of valves poses minimal threat to safety or the environment.
Finally, Valve Technology should lie at the forefront of the extraction process, innovating and improving the way that Oil and Gas is extracted. For Oliver Valvetek, all of these points are buried into our mission and vision. We demand 100 percent reliability from our subsea valves, and ensure that our customers are still able to extract Oil and Gas cost-effectively finished Shillito.
About Oliver Valvetek Part of the Oliver Valves family,
Oliver Valvetek has continually pushed the boundaries of subsea Oil and Gas extraction. The business operates internationally across all major Oil and Gas regions, and specialises in the engineering and manufacturing of highly specialised valve solutions â such as Needle Valves, Ball Valves, Gate Valves and Check Valves. To date, Oliver Valvetek has supplied some of the world’s largest energy companies on an international scale.
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