December 9 2013 Latest news:
Wednesday, October 30, 2013
A specialist firm serving the offshore oil and gas industry has landed a major contract likely to bring new jobs to Great Yarmouth.
Inpection Verification Bureau (IVB), which has reached an annual turnover of £2m since its launch two years ago on the town’s Gapton Hall industrial estate, tied up the potentially long-term deal with Aberdeen-based PD&MS Energy following introductions at last month’s Offshore Europe Exhibition.
IVB business development manager Gary Williams said: “If things plan out well, the contract is likely to be worth between £100,000 and £250,000 a year.”
He said they were also confidently following up other favourable leads from the Aberdeen expo where they appeared on an East of England stand.
“The decision to attend was a major investment for the team both in time and money but they felt the time was right to do this. I would encourage other businesses in the region to look at the potential of the exhibition,” he said.
IVB partners Derek Lockwood, Chris Bolton and Matt Chapman had a wealth of experience in the provision of third party inspection and verification services to oil and gas companies and, when launching their business venture, were confident from the outset that it had great international potential.
Mr Williams explained they were the “eyes and the ears” for companies having items fabricated or purchased.
“We go to the site and ensure the goods are the right specification, fully comply to order details and meet all legislation,” he said.
Although based in Viking Road, the firm has recently opened a new base in Abu Dhabi.
Mr Williams said: “The firm directly employs 10 to 12 people but now has more than 100 specialist consultants throughout the UK, US and Europe.
“The partners expect to continue growth at the current rate and become a quite significant part of the region’s oil and gas landscape.”