Ikon Science announced today that its Ikon GeoPressure business has been named a winner of the Queen’s Award for Enterprise 2014.
“We are honoured to receive the Queen’s Award for Enterprise, the highest accolade for business success” said Stephen Jenkins, Senior VP for the Division. “Ikon GeoPressure has won this award in recognition of its outstanding performance in growing International Trade. We have increased overseas earnings by 771% over the last six years and now export to 22 countries which include new markets in Americas, Africa and Asia.”
“The Queen’s Awards for Enterprise are one of the most internationally-recognised and sought after awards that a UK business can achieve” wrote Business and Energy Minister, Michael Fallon. “The Queen’s Awards highlight our strong entrepreneurial streak and the excellent businesses we have up and down the country who are growing, creating jobs, making a valuable contribution to the economy.”
Ikon GeoPressure was formed in 1997 as a spin-out from industry consortium-based research originating in the Durham University Earth Sciences Department and became part of the Ikon Science group in 2006. Decades of academic research and geologically-based industry experience has gone into developing Ikon’s trademark RokDoc® GeoPressure software, solutions and Roknowledge® digital regional studies that are used extensively by oil companies to safely explore and develop the world’s oil and gas fields.
Stephen O’Connor, the Company’s Global GeoPressure Lead says “There is increasing demand for oil & exploration companies to improve their drilling effectiveness and the safety of their operations as E&P operations target deeper, hotter and more highly pressured geological formations in deeper waters and more sensitive environments. Ikon GeoPressure has a global reputation for creating best practice processes and technology to predict and understand pressures in the subsurface and it is to this that its successful domestic & overseas growth can largely be attributed.”
Ikon GeoPressure wins the Queen’s Award for International Trade with support and encouragement from its parent Ikon Science. CEO Martyn Millwood Hargrave said “Over the past two years Ikon has established new business hubs in Bergen, Houston, Jakarta and Calgary to support local clients, and we expect our business to expand further with new science and innovations including real time pore pressure monitoring to help explorers and producers overcome their greatest challenges, drilling safely and efficiently in new frontiers and deep water”.