Zenith Oilfield Technology Limited, based at Inverurie, is celebrating today, Friday November 26, after it scooped a top award at a ceremony held in Glasgow last night.Zenith won the best SME300 Newcomer Award in the Insider & Scott Moncrieff SME300 Awards.

This prize recognises an exciting new company which has entered the SME 300 for the first time and has the potential for future growth.

Zenith operates in the artificial lift sector of the global oil and gas industry, and can attribute its growth almost exclusively to international sales operations. The company’s top overseas markets are the Middle East, North and West Africa, Far East, Australia and North and South America.

In the last three years Zenith has developed new markets in Brazil, Argentina, India and Russia.

Zenith co-founder and managing director, Greg Davie, was at the ceremony to collect the award on behalf of the company and his management team. He said:

“This has been an exceptional year for Zenith and this award underlines all the hard work and dedication that our great team put into the company. Entering the SME top 300 for the first time is a reflection of our success in the international markets where our business strategy has always been focussed. Zenith is a truly world-class organisation with a global vision and we are committed to pushing technology boundaries by investing heavily in developing innovative pieces of equipment for use in the oil and gas sector at our dedicated research facility in Inverurie.”

Greg Davie, Managing Director

Zenith invests heavily in technology development devoting more than £1.1 million to developing pioneering tools at its onsite research facility in Inverurie.

Some of the trailblazing technology that has been developed by Zenith includes ‘XT’, a system that monitors oil and gas well pressure and temperatures at up to 500 Celsius, 20 degrees hotter than Venus. It has also pioneered ‘Z-Sight’ - a well surveillance tool that gathers crucial information from wells and processes it providing key data to well management teams enabling optimal oil recovery.

With 80 staff, the vast majority of Zenith’s revenue is generated outwith the UK. In 2009 the company was awarded The Queen’s Award for Enterprise for its achievements in international trade.