Qserv
Encyclopedia
Qserv is an oilfield service company that specialises in oil-well services operations, including wireline
, coiled tubing
and pumping services. The company also performs other engineering services, most notably pipeline services.
, Aberdeen
, Scotland, was founded in November 2001 by Tommy Dreelan, who is its managing director. The company name is a contraction of the slogan "Quality Service".
, Denmark, Indonesia, Norway, and Qatar and worked in 13 European countries in 2004. The company employs more than 300, and has an expected 2007 turnover target of £
30m-£45m with EBITDA
of £12m.
Qserv was awarded the 2004 International Safety Award from the British Safety Council because of its zero accident rates, controlled safety policies, and commitment to health and safety. Tommy Dreelan was named "Grampian Industrialist 2006" by Junior Chamber International Aberdeen. Qserv was one of the five finalists in the Sunday Times’s Entrepreneur Challenge. Qserv provides coiled tubing and pumping related services to BP in the North Sea. In 2006, it acquired KCA Deutag's
wireline and well-service division, and the coiled-tubing unit of Weatherford
, which increased Qserv worldwide operations significantly.
Wireline
In the oil and gas industry, the term wireline usually refers to a cabling technology used by operators of oil and gas wells to lower equipment or measurement devices into the well for the purposes of well intervention and reservoir evaluation....
, coiled tubing
Coiled tubing
In the oil and gas industries, coiled tubing refers to metal piping, normally 1" to 3.25" in diameter, used for interventions in oil and gas wells and sometimes as production tubing in depleted gas wells, which comes spooled on a large reel. Coiled tubing is often used to carry out operations...
and pumping services. The company also performs other engineering services, most notably pipeline services.
History
The company, based in PortlethenPortlethen
Portlethen is a town located approximately 7 miles south of Aberdeen, Scotland along the A90. The estimated population is currently 7,327.To the east of Portlethen lie three fishing villages: Findon, Downies and Portlethen Village .Although Portlethen has been granted official town status, it...
, Aberdeen
Aberdeen
Aberdeen is Scotland's third most populous city, one of Scotland's 32 local government council areas and the United Kingdom's 25th most populous city, with an official population estimate of ....
, Scotland, was founded in November 2001 by Tommy Dreelan, who is its managing director. The company name is a contraction of the slogan "Quality Service".
Business overview
Qserv has operations in the North SeaNorth Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
, Denmark, Indonesia, Norway, and Qatar and worked in 13 European countries in 2004. The company employs more than 300, and has an expected 2007 turnover target of £
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
30m-£45m with EBITDA
EBITDA
EBITDA is an acronym for earnings before interest, taxes, depreciation, and amortization. It is a non-GAAP metric that is measured exactly as stated. All interest, tax, depreciation and amortization entries in the income statement are reversed out from the bottom-line net income...
of £12m.
Qserv was awarded the 2004 International Safety Award from the British Safety Council because of its zero accident rates, controlled safety policies, and commitment to health and safety. Tommy Dreelan was named "Grampian Industrialist 2006" by Junior Chamber International Aberdeen. Qserv was one of the five finalists in the Sunday Times’s Entrepreneur Challenge. Qserv provides coiled tubing and pumping related services to BP in the North Sea. In 2006, it acquired KCA Deutag's
Abbot Group
Abbot Group Limited is a leading oil and gas services company based in Aberdeen, Scotland. The Group employs more than 8,000 people in over 20 countries across the world....
wireline and well-service division, and the coiled-tubing unit of Weatherford
Weatherford
Weatherford may refer to:Towns and cities*Weatherford, Texas, medium city in Parker County*Weatherford, Oklahoma, small city in Custer CountyPeople...
, which increased Qserv worldwide operations significantly.