- Unique isolation technology minimizes production downtime
- The income tripled in two years
- Global expansion of entities in Australasia ad North America
Following an exponential increase in global demand for AOGV isolation technology, subsea and topside pipeline specialist, Aberdeenshire-based IK Group has launched Izomax, a wholly owned but separate company that has focus on the isolation tool.
The only product of its kind, AOGV uses unique patented isolation technology to help customers minimize downtime across the spectrum of shutdowns, turnarounds and outages while maintaining system integrity – allowing the process to continue.
The cost and time savings inherent in AOGV are further enhanced by the reduced risk of emissions spills, reducing the risk as low as reasonably practicable.
Four years after its first deployment, the technology, developed at the company’s Stavanger headquarters, has reached its 100th deployment during 2022. With a list of clients that includes many oil and gas supermajors and multi-nationals NOCs, the AOGV product line will continue as an independent, but wholly owned, subsidiary named Izomax.
IK Group CEO Eirik Berge commented: “We will continue to support Izomax wherever needed but by becoming independent, Izomax will take AOGV technology and service delivery to new heights with improved customer focus and engagement.”
Rune Sele, VP Izomax, added: “Launching a stand-alone company allows us the freedom to rapidly develop our technology-based solution globally, with a laser focus. We have expanded our technology and tool fleet to meet demand, while opening offices in Australasia and North America. We have seen incredible growth with our revenues tripling in the last two years, plus our organization has tripled in size, and our customer base is growing rapidly.
“However, we will maintain a bond with the IK Group while fully focusing on the Izomax business and expansion plans, and we have great admiration for the IK Group team – not least for their investment, support and encouragement which brings us to this. It’s an exciting new phase in driving our company forward.”
Read the latest issue of OGV Energy magazine HERE
Published: 13-03-2023
