Intertek Acquires Oil and Gas Technology Company

Source: www.gulfoilandgas.com 11/1/2010, Location: Europe

Intertek, a leading provider of quality and safety solutions serving a wide range of industries around the world, has signed an agreement to acquire Profitech (UK) Ltd, a technology provider of advanced mathematical software modeling services serving the oil and gas industry.

The acquisition of Profitech enhances Intertek’s laboratory expertise and global capabilities in real-time upstream process measurement and optimization expertise. Intertek and Profitech have worked together on a number of successful projects, utilising Profitech’s advanced non-linear chemometrics software package, PT5™.

“Acquiring Profitech was the next logical step for Intertek.”, said Colin Stewart, Managing Director for Intertek Aberdeen upstream services, “The PT5™ Technology can be deployed across the entire crude oil supply chain, from crude oil production to pipeline, refining and biofuel activities, benefiting a wide range of clients.”

PT5™ software is combined with on-line Near Infrared Analysis (PT5-NIR) to provide rapid product analysis, exploiting real time property measurement for improved control and optimisation of the hydrocarbon supply chain. With PT5™ software used in conjunction with NIR Analysis, accurate and real-time data is available for online composition measurement and quality assurance on platforms and pipelines, fiscal allocation and hydrocarbon accounting for shared pipeline system, well-stream allocations, multiphase meter validation, hydrocarbon reconciliation and much more.

Raymond Pirie, Vice President for Upstream Analytical Services, said “Bringing Profitech’s technology into Intertek provides proven technological benefits to customers across exploration, production, refining and distribution activities. PT5-NIR provides real time composition measurement for a wide range of hydrocarbon products. This capability can support quality control, control systems, enhance production yields and more, helping our customers run their business more efficiently and profitably.”


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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