GoreVega reports record financial results

GoreVega, provider of personnel and consultancy services for the well intervention sector, has reported record 16-month financial results (August 2012 – December 2013) for FY 2012/2013 of £16.3 million revenue.

When comparing financials year-on-year, the firm has made significant progress, marking a +71% increase on the previous year, having reported £7 million revenue for FY 2011/2012 (12-month FY) and an increase to £12 million when compared to the same time period FY 2012/2013.

These financial results come as the company has added twelve new Colombian consultants to its books, supporting the company’s growing operational activity in Latin America. The company has also recently welcomed two Nigerian and three British trainee consultants to the team who are currently undergoing a combination of field and class training.

Comments

Nathan Gore, Managing Director of GoreVega, commented: “We are delighted to have maintained such an encouraging pace of growth in what is a highly competitive market. We have attributed much of our successes to our ability to provide a unique workforce from all over the world, which is extremely knowledgeable in niche areas of the well lifecycle. We also endeavour to provide hands-on training whilst identifying and applying transferable skills across various roles.

“It is well publicised that there is a huge skills gap in the oil and gas skills sector and the need to fill that gap with talented, experienced personnel can be challenging. Our ability to not just identify the best-qualified personnel, but also the best-fit individuals with a varied skills set for each individual client has meant that we have implemented a successful strategy for success.”

GoreVega is currently on course to report approximately £14 million revenue by financial year-end 2013/2014.

Adapted from press release by Katie Woodward

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/04112014/gorevega-reports-record-results-1760/