Larry Kinch - Oil Entrepreneur Honoured December 4

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One of the UK’s most successful entrepreneurs is to be rewarded for his efforts by his hometown university.

Robert Gordon University in Aberdeen has announced that it is to honour Larry Kinch, an oil entrepreneur and technologist who has been instrumental in the development of the world’s oil industry over the years.

Mr Kinch is to be presented with an honorary degree from the university, which will make him a Doctor of Technology.

Mr Kinch is a great believer in the importance of technology in driving growth and moving the sector forward. On the announcement of his honorary degree from Robert Gordon University, he explained: “Technology is actually the great provider for this industry but many people fail to understand that.”

He went on to say: “Without technology the industry would never have happened. I am a huge believer in technology.”

The success of Mr Kinch is a good example of how an entrepreneur can develop from humble backgrounds to become one of the most successful people in his industry.

He began his career as an apprentice at 16, having grown up in the Mastrick and Garthdee areas of Aberdeen. He now has over 25 years’ experience in the oil industry and has been constantly working to develop and improve the technology which is used in the sector.

Mr Kinch was originally an engineer with Shell and then BP, learning his trade from the bottom of the ladder.

However, he had the initiative to strike out on his own and in 1985, he formed Petroleum Engineering Services (PES). This company was the first in the world to bring to the market an intelligent well completion system. The success of this project was almost unprecedented and from that idea PES became a huge, multi-million-dollar organisation.

The success of PES was confirmed when Mr Kinch decided to sell the firm to US giant Halliburton. At the time of the sale, PES was an established name in the oil industry around the world and had become a £111 million business with offices around the world.

Demonstrating, however, that an entrepreneur does not have to stop with the creation of one successful business, Mr Kinch went on to establish a new company, becoming a funding shareholder in Venture. Launched in 1997, Venture was designed to “commercially exploit what to date have been regarded as economically marginal North Sea fields”.

Venture was established back in Mr Kinch’s hometown of Aberdeen and brought together some top oil experts, including David Neely, who had formerly held a senior management position at BP, and LASMO’s Bruce Dingwall.

Mr Kinch has provided guidance to Venture, but has also had the opportunity to launch yet another company - Energy Development Partners. The recent establishment of this company, of which he is chairman, continues Mr Kinch’s commitment to continually move forward with new developments and deliver new and improved technologies and innovative solutions for the oil industry.

He may have had his big break with the success of the intelligent well completion system at PES, but Mr Kinch has refused to rest on his achievements, demonstrating the insatiable appetite and spirit of a true entrepreneur.

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