The Safety Valve is operated by two separate hydraulic lines, with the ball valve held in the closed position by a spring and nitrogen-charge assembly. A control line is pressurized to open the valve. Bleeding off this pressure causes the valve to close. Additional closing pressure can be added to the balance line to allow for cutting of coiled tubing or wireline in emergency situations. Chemical injection ports can be configured to allow for chemicals to be pumped either above or below the ball.