Well diagnostics firm EV uses new markets to turn negative into positive

Bosses at offshore well diagnostics firm EV are toasting a 20% jump in sales and an increase in workforce numbers amid growing confidence in its markets.

The company, which splits its headquarters between Aberdeen and Norwich, said yesterday it had used the recent oil and gas downturn to focus on research and development (R&D). It has also entered new markets – specifically Algeria and Argentina, and secured master service deals with major operators.

Chief executive office Fraser Louden said: “2016-17 was regarded as the bottom of the market downturn and this clearly had an influence on EV’s profit and turnover – as it did for many international service companies. Although a challenging time, we saw it as an opportunity to concentrate on R&D and consequently developed a suite of innovative video-led products.

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