Tue, 20/06/2017 - 12:57
Current Issue 41
All is Well
Setegap Ventures Petroleum is meeting clients’ complex requirements in an ever-evolving oil & gas environment through a turnkey pumping, drilling and tubing portfolio of services
Writer: Matthew Staff
Project Manager: Josh Hyland
Incorporated in Malaysia in 2003 as a wholly-owned Bumiputra entity, Setegap Ventures Petroleum Sdn Bhd (SVP) has evolved over the following 14 years to become a one-stop centre for the oil & gas sector, providing an almost unrivalled array of well solutions to a loyal base of customers.
Initiating back then as the only Malaysian owned and operated service provider for the upstream industry, its range of pumping and well services, well intervention solutions, production enhancements, and upstream drilling offerings have ensured longevity at the head of the sector.
“SVP’s core services are in well pumping, coil tubing units (CTU), integrated production enhancement solutions, and de-sander and cementing services,” the Company continues. “Our advantage lies in having the capability and capacity for continuous innovation in designing solutions to meet clients’ evolving working environment, technology and safety expectations.
“Our full spectrum of consultancy includes the solutions customised to specifically address the challenges faced by a dynamic working environment, as well as providing the skilled manpower, equipment, and related products needed to ensure the successful implementation of the solutions.”
Always looking to diversify and expand its portfolio, SVP in 2008 enhanced its scope of operations to include aforementioned CTU services, further demonstrating its flexibility and entrepreneurial flair in an industry not always blessed with such a luxury.
“As SVP focuses on the core business of well pumping, CTU and cementing services, it is rapidly making its expertise known in Southeast Asia, with new markets also being opened in the Middle East,” SVP adds on its website.
The Company’s Chief Operating Officer, Mohd Zulhaizan Bin Mohd Noor picks up: “As the need to increase production from existing wells becomes increasingly important, especially during the oil price downturn, it has opened the door for SVP to increase our capability and fleet from just pumping to coil tubing, de-sander services and production enhancement solutions.
“The integrity of a well is also crucial in order to ensure the lifespan of the well, thus SVP now also offers cementing services.”
Over a relatively short period of time, SVP has cemented its reputation as an organisation run by savvy business and technical individuals who have helped to develop the Company into the reputed, fast-responding, time sensitive and innovative entity that is seen today.
“SVP believes in doing what we do best, and then expanding from that,” Mohd Noor says. “We develop a strong fundamental, technical business, and then expand from that strong core.
“SVP also believes that the success of the Company depends on highly skilled staff, so there is a strong emphasis on programmes to help further develop our workforce.”
The culminating result is an almost 70 percent market share dominance in the East Malaysian market, and a further 50 percent stronghold in Peninsular Malaysia, incorporating the entire scope of the business. And from this emphatic position, the Company can - and has been - looking to migrate further afield and replicate its triumph throughout Southeast Asia.
Compounding such a proactive approach to continuous improvement, its new CTU and de-sander units, as well as investments into new cementing equipment, have helped increase provision to the market once again, while a new, bigger warehouse in Labuan has helped to facilitate the Company’s own rapid growth.
Versatile and nimble
Two major CTU contracts have been won in recent times as a consequence of the Company’s turnkey offering, bringing SVP closer to its goal of becoming not just a local leader, but also a regional and global player of repute.
“With that in mind, we welcome talented and committed individuals to drive the Company towards realising not just our vision, but the journey towards it,” the Company affirms. “Our diverse and multi-talented family is a testament to the culture we inculcate at SVP.”
Creating opportunities for local artisans is a large part of this employment focus, where they can then be deployed at bases in Kuala Lumpur, Kemaman, Labuan, Miri and Kota Kinabalu.
Further still, the same ethos is applied to its supply chain too, where social responsibility shines through and local business partnerships are entered into to enforce its own internal values of cost-effectiveness, reliability, efficiency and good business ethics.
“SVP is looking at how to increase efficiencies moving forward, in terms of operations and in trying to increase our margins,” Mohd Noor concludes. “With a small-size structure, SVP has the advantage of making fast decisions and can be more versatile and nimble in challenging demanding markets.
“From this point, the future will also see us diversify our business in terms of products and territories, looking to be on par with other traditional players with the same scope of services."