Titan Torque Has Increased Size of Facility
Titan Torque has announced it has increased turnover by 118%, increased the size of its Aberdeen facility and launched a new service to the drilling sector. Titan has secured additional operational space to meet demand for its drilling solutions and equipment. The company has added an 8,000 square foot unit across from its 10,000 square foot base at East Tullos Industrial Estate. Titan’s turnover is also up from GBP 1.1 million to GBP 2.4 million for its 2011 financial year-end.
The company has also announced that it is to offer a hole opener service to the drilling sector, with the capability to expand the wellbore to 36 or 42 inches. Titan’s confidence to push forward was in part due to a 25% year-on-year increase in projects for the first quarter of this year.In addition to its flexible torque services, two Titan innovations – the Drill Bit Protector and the Push Pull Unit – helped to increase the turnover of the business set up nearly three years ago.
Titan Innovations
The pre-make service and Drill Bit Protector enhances on and offshore safety by reducing the number of equipment lifts and use of heavy tools. Cost savings for customers come in the form of reduced transportation costs and a significant reduction in rig time expended. Titan Torque also developed and built the Push Pull Unit, a new piece of drilling installation equipment designed to enhance operational safety and performance. The breakthrough kit introduced by the award-winning business to its operations uses an innovative technology-led approach to pre-make and install liner and casing hanger running tools.
Push Pull Unit
The company says its Push Pull Unit has been specially designed to pre-install the running tool in a process that is more controlled, measurable and safer than existing industry techniques. Titan Torque managing director Keith Gaskin said: “The increased capacity will allow us to extend our current services and bring new solutions to the drilling market.” Bruce Jepp, Titan Torque’s business development director, stated: “It’s been a team effort from everyone connected with Titan Torque and we’re looking to continue steady growth not only in the North Sea but also in other parts of the world.”
Award
The patented Drill Bit Protector saw the company win the Wood Group Award for Innovation at the 2010 Grampian Awards for Business Enterprise. The company has been nominated in the Energy Award category at this year’s Northern Star Business Awards at the Aberdeen and Exhibition Centre on October 6.