Petroleum Experts (Petex) started in business in 1990. All members of the team have been involved in the development of software engineering products, as well as having extensive experience in petroleum engineering. The corporate strategy developed from this experience and a long-term business outlook were fundamental to the prompt success of Petroleum Experts.
The success of the business has been driven through a highly focused and - most importantly - sustained drive to incremental and measurable steps in innovation of the new engineering modelling techniques. This drive has brought direct bottom line production gains to our clients from the oil and gas industry. A key to the company's long term business success has been our ability to influence our clients. We have convinced our clients to adopt the technology that has enabled them to change their organisation, and to maximise not only the production but also the technical efficiency. This can be supported by direct reference to client companies.
Since the very beginning the company's financial performance has been outstanding. Petroleum Experts has been facing a constant increase in both the turnover and the profit. All our product development activities are self-financed, which enables us to focus on technical innovation and quality of technology, instead of the search for external funding. Petex was awarded Company of the Year 2010 at the SME awards for Scotland. In 2009 they were awarded Business of the Year for Scotland and in previous years have won several awards for business growth including European Business Awards "Ruban d'Honneur" in 2009 as well as the fastest growing technology companies for six of the seven years that Deloitte Fast 50 Awards were run in Scotland.
Petroleum Experts has over 420 clients worldwide. In fact, more than 80% of the revenue comes from outside Europe. The company is recognised across the international oil and gas industry as the technical market leader within its area of expertise and has been ranked number one in all technical evaluations across the industry for more than eight years.