AN oil and gas software company set up by two Scottish brothers has earned the royal seal of approval for its global business activities.
Physicist brothers, Dr Lindsay and William Wood, set up Glasgow-based Sciencesoft Ltd in the late 90s and today the company provides its state of the art 2D and 3D visualisation and analysis software to more than 120 companies in 80 countries.
The company which employs 19 at its Govan headquarters has been awarded a prestigious Queen’s Award for Enterprise in International Trade. Export sales account for 90% of Sciencesoft’s turnover which this year is expected to total £3m and generate a £1m profit.
Glasgow’s Lord Provost Bob Winter, representing the Queen as the city’s Lord Lieutenant, presented the award and described Sciencesoft’s success as “remarkable in these difficult economic times”.
In simple terms, Sciencesoft’s Reservoir Simulation Suite of products helps engineers analyse the results from reservoir simulators by quickly producing 2D and 3D images of a company’s oil or gas field, enabling engineers to make multi‐million dollar field planning and development decisions.
Reservoir simulators are the main prediction tools used by engineers in petroleum companies to forecast future oil and gas production.
Such is the power and flexibility of the software that major oil and gas companies have now adopted Sciencesoft’s Reservoir Simulation Suite as standard.
Dr Lindsay Wood, Sciencesoft’s research and development director, said: “Securing a Queen’s Award for Enterprise in recognition of our overseas sales performance is a fantastic tribute to the efforts of our entire team.
“We remain focused on producing world‐class software products for our existing and new clients, enabling them to make faster and more informed planning and development decisions.”
Sales director William Wood added: “Our Glasgow based sales team works very hard on identifying new market areas and travels the world meeting potential new customers.
Lindsay’s wife Dr Angela Wood who is the business development director and has been involved since the company’s launch joins the brothers in the management team. The couple attended a special reception for Queen’s Award winners at Buckingham Palace and met the Queen and Prince Philip.
As well as the Queen’s Award for Enterprise, Sciencesoft’s team won the John Logie Baird Innovation Award for its newest software package, S3GRAFHPG earlier this year.
This new product allows reservoir engineers to load large simulation data files, which had previously taken over one hour to load, in a matter of seconds.
Sciencesoft has seen an annual growth rate of 25% since 2002 – significant especially in the recent recessionary period.
Lord Provost Winter who toured the company’s HQ and met all the staff said: "Sciencesoft Ltd is truly a worthy winner of this Queen's Award for Enterprise.
“I congratulate this family firm for its ambition and success in providing world-leading products that enable multi-million pound businesses to work smarter and faster.
“It's a remarkable success story to celebrate in these difficult economic times.”
Note to editors:
Photos by Alan Peebles
Photo shows Sciencesoft founding brothers Dr Lindsay Wood (left) and William Wood with the Queen's Award for Enterprise their company has won.
Released on behalf of Sciencesoft Ltd by Peter Samson, PDS Media (Telephone +44 7967 464 369 or email email@example.com
For more information on Sciencesoft Ltd see http://www.sciencesoft.com
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