ADVANTEC AS was established in 2005, and has grown from 20 to 350 employees (August 2013) with offices in 10 locations, in 5 different countries. The turnover of the Advantec Group is expected to exceed NOK 500 million in 2013 (USD 85 mill.). The expansion has been a combination of organic growth and strategic acquisitions.
The corporate headquarter of ADVANTEC is located on the west coast of Norway, between Stavanger and Bergen, situated on the very picturesque island of Stord.
Our next door neighbor is Kvaerner Stord, Norway’s largest fabrication site for offshore platforms, and ADVANTEC’s legacy is from 40 years of participation in large construction projects, prior to the management buyout of a section of Aker Kvaerner Elektro in 2005, when ADVANTEC AS was established as an independent technology and service company.
Technology and Service provider
The core technology for the Advantec Group companies has been within Instrumentation, Electrical, Hydraulics, and Mechanical disciplines, including Safety and Shutdown Systems.
Special competence has been established for system integration and control of individual systems on a production or drilling platform, during the demanding transition from Construction, through Mechanical Completion, Commissioning and System Start-up and commencement of Operations. ADVANTEC has maintained and further developed this capability, and offers such services as part of the Specialist Services business area.
Within this background, it was a relatively small leap for a dedicated team of engineers to adapt their know-how to the demands of the subsea oil & gas market, and the first Electro-Hydraulic WOCS system for installation and workover of subsea X-mas Tress and downhole completion was completed in 2004.
ADVANTEC has a vision and strategy to become a leading independent supplier of WOCS systems including sale & rental of integrated systems, with operational support and aftermarket services in the global subsea market.
This forms part of the Subsea & Well Control business area, which also includes some other advanced well control systems; BOP/Grease Injection Units for Wireline services, and Chemical Injection Units and Production HPUs for subsea wells.
ADVANTEC also aims to develop cutting edge technology products and services, through dedicated R&D activities. Selected acquisitions are made, where the experience, know-how and resources of ADVANTEC can be combined with ambitious individuals or smaller companies to develop dedicated service organizations or technology products for the international oil & gas market. The results of such endeavors are marketed as part on the Products business area.
In 2010, the Oslo based Private Equity company Norvestor (Fund V) invested into Advantec Holding, and a group structure was established. Norvestor has been actively involved in structuring and growing the Advantec Group, and has a solid capital base to support the considerable investments made in rental systems, and further acquisitions.
It has been ADVANTEC’s objective to establish operations in selected international markets. This has resulted in the establishment of the following international companies in strategic locations;
A sales representation office has been established in Rio de Janeiro, Brazil (2012), and work is progressing to establish an operational unit there.
The Aberdeen and Houston offices offer the whole range of Subsea & Well Control services of the Advantec Group.The Lithuanian office is a provider of structural and machined components for ADVANTEC’s products, and also offers fabrication capacity to third parties.
For more information about each international subsidiary, click on the link below:
From the corporate headquarters at Stord, and the subsidiaries in Houston and Aberdeen bases, we serve international markets in the Gulf of Mexico, Europe, Africa and the Far East, offering leading technology products and services to our customers.
Chain of Service Bases in Norway
Offices and service bases are established in the main cities and offshore supply bases along the Norwegian coast, and includes Oslo (Trollåsen), Stavanger(Dusavik), Stord, Bergen (Ågotnes, Sotra and Kleppestø, Askøy) and Hammerfest. Further expansion is planned, to meet market demands. These locations all offer engineering support, maintenance and repairs and operational support & service of all of ADVANTEC’s core business streams.