oil and gas infrastructure
source link: https://dronedj.com/2022/10/14/volatus-synergy-gas-infrastructure/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Volatus, Synergy pair for drone inspections of oil and gas infrastructure
Canada’s diversified drone services company Volatus has announced it is acquiring a majority stake in Alberta-based Synergy Aviation, which specializes in UAV deployment in the inspection of vast expanses of oil and gas infrastructure.
Volatus said the deal to bring Synergy aboard will provide it immediate access to Western Canada’s large oil and gas industry, and further broaden its array of drone hardware, services, and pilot training activities. Volatus noted the deal is based on an arms-length agreement, meaning both companies are acting in their respective, yet overlapping interests to strengthen their businesses by coming together.
Indeed, Synergy is on target to record around $9 million in revenues this year from its drone inspection of gas and oil customers’ terminals and pipeline infrastructure. Volatus, meanwhile, serves energy sector clients of its own.
Read: Volatus gets special Transport Canada BVLOS drone certification
Under the deal will additionally receive nearly $2.3 million in investment from Volatus in exchange for an initial 51% stake. Current shareholders will have the option of selling the acquiring company the remaining 49% for a similar sum.
However, even the simple majority position will permit Volatus to throw its drone sector experience behind Synergy’s plans to expand its drone inspection work to ensure clients’ gas and oil assets are secure and meeting regulatory requirements. The company also performs valuable geomatics services, involving the collection and analysis of various data of the geography surrounding infrastructure.
Western Canada hosts about 500,000 kilometers of pipeline stretching from the coast of British Columbia to Manitoba’s border with the US. Though Synergy is already a leading actor in helping oil and gas companies switch from costly helicopter- and plane-based inspection of infrastructure to cheaper and often more effective drones, company president Todd Tkach says the business will seek to grow beyond the region as a part of the larger Volatus group.
“There are nearly 5 million kilometers of oil and gas pipeline in North America requiring annual inspections and, in many cases, weekly patrols to meet regulatory and asset management requirements,” said Tkach. “Becoming part of Volatus gives us the added geomatics capabilities, market reach, and the opportunity to disrupt traditional methods in this sector.”
Read: SoCalGas to deploy Doosan hydrogen drones in pipeline inspections
Broadening its oil and gas infrastructure presence by acquiring Synergy is the most recent effort Volatus has made to expand its increasingly sophisticated range of drone activities.
In August it received a special certificate by regulator Transport Canada to operate beyond visual line of sight missions without a flight observer. That flowed directly from the introduction in June of its automated Aerieport nested UAV platform. It also recently got the all-clear from regulators to remotely operate drone flights necessary for work in Las Vegas from its Canadian control center 3,000 kilometers away.
Adding Synergy to its blend of operations, says Volatus CEO Glen Lynch, will add further momentum to the company’s push to expand services it provides with the mission, data, and cost effectiveness that drones afford.
“Leveraging Synergy’s oil and gas presence combined with our existing pipeline operations in Ontario will allow us to introduce the power of innovative drone solutions to meet regulatory compliance and asset management requirements with improved efficiencies and a material reduction in greenhouse gas emissions,” Lynch said.
Recommend
-
7
Business Trends
-
1
Oil and Gas Companies Must Act Now on CybersecurityOil and Gas Companies Must Act Now on Cybersecurity The World Economic Forum’s Cyber Resilience in the Oil and Gas Industry: Playbook for Boards and Corporate Officers...
-
4
Digitization. That’s the word. Amid disruption and movement to green solutions, energy companies are under pressure to both find ways to keep IT costs down while still being expected to drive digitization initiatives. It’s a tough task. You h...
-
2
Can Technology Save the Oil and Gas Industry?October 29th 2021 new story2The day-to-day manual tasks...
-
2
Oxana Oleynik December 20, 2021 1 minute read ...
-
4
March 4, 2022 ...
-
7
Russia considers accepting Bitcoin for oil and gasBy Annabelle LiangBusiness reporterPublished2 days agocommentsComments
-
1
How Biden can get oil companies to pump more oil
-
4
The first of 11 8.6 megawatt (MW) turbines has been installed at the world’s largest floating wind farm, off the Norwegian coast. Hywind Tampen is also Norway’s first offsh...
-
3
Oxana Oleynik October 27, 2022 Less than a 1 minute r...
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK