Energy technology company Fotech has secured 6.5 million pounds venture funding from Scottish Equity Partners, Energy Ventures and Saudi Arabia-based Shoaibi Group to commercialise its pioneering solutions for the monitoring and surveillance of oil and gas wells and pipelines.

Fotech, which is headed by Chief Executive Douglas Gibson, has developed optical fibre-based acoustic monitoring systems with a wide range of applications. These include the oil and gas industry which requires high-performance systems to detect pipeline leaks and other problems.

Fotech will use the funds to further develop and field test its monitoring systems and for the commercial launch of its products which will initially be targeted at the oil and gas market.

The funds will also be used to finance the acquisition of a spinout from the University of Surrey which has developed fibre-optic sensing technologies.

Douglas Gibson, Chief Executive of Fotech, said:

We are delighted to have secured funding from SEP, Energy Ventures and the Shoaibi Group who are all highly-respected investors. The oil and gas industry has seen great benefits from the use of fibre optic sensing technologies in the well bore. Fotech is creating new and innovative solutions which will deliver even better understanding of the entire upstream, midstream and downstream processes.

Fotech was founded in 2006 by Douglas Gibson and fellow director Alan Piesse to commercialise fibre optic sensing technology. The company specialises in Distributed Acoustic Sensing (DAS) which allows a standard optical fibre cable to act as a microphone over significant distances, using acoustic data and sophisticated software to identify leaks and other problems in pipelines and wells. Gibson and Piesse have many decades of experience in the oil and gas sector. Gibson worked with Halliburton and then built and sold his own oilfield service company, which was a partner of Sensa in South America. He also headed Vibtech, an oilfield services company which was sold to CGG Sercel. Piesse has 30 years experience in oilfield sales and previously worked with Sensa, a fibre optic sensing specialist which was acquired by Schlumberger. Fotech will establish a new base in Hampshire and recruit technical and sales staff in the next 12 months.

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