Sector analysis
Offshore wind, carbon capture, and hydrogen growth in the UK
The UK is in the midst of diversifying its energy mix. Nuclear, renewables, and transitional fuels such as hydrogen have all been given a mandate to grow their market share on a scale resembling the industrial revolution. Like most western countries, the UK is currently reliant on fossil fuels for most of its energy needs. With gas prices soaring more than 200% last year it is important to highlight the need to speed up this transition. Clean technologies will play an important dual role in not only decarbonising the national grid but also providing safe and reliable sources of power. With the UK being the second largest producer of offshore wind and with highly ambitious goals in carbon capture (CC) and hydrogen moving forward it is important to understand the headwinds and tailwinds affecting the supply chain, who will be key to these ambitions.
To understand where the UK is heading, it is important to look at governmental policies that have been introduced over the last few years, namely the 10 Point Plan for Green Industrial Revolution, the North Sea Transition Deal, and the more recent Energy Security Strategy. With 10GW of hydrogen to be generated, 20-30m tonnes of CO2 to be stored, and 50GW of offshore wind to be brought online by 2030, these goals are highly ambitious. A good example of this can be seen for offshore wind – if the UK wishes to reach its 2030 goal of 50GW of offshore wind, the country will need to quadruple the current capacity already online in the North Sea; around 7GW of offshore wind will need to be installed each year. This then raises a valid question – can the supply chain achieve these goals in time? Associated with the increase in offshore wind comes an additional expansion in array cabling and other equipment which makes up the balance of plant for offshore wind projects. This in turn will put extreme pressure on local supply chains to achieve these goals.
To try and understand the feasibility of meeting these targets the EIC has been mapping supply chain capabilities within the UK for six years which has helped gain an understanding of the strengths and weakness in the industry. Our product, EICSupplyMap, has uncovered 3,500 companies that represent the wider energy sector; from oil and gas (O&G) to renewables, hydrogen and CC. The data collected gives a clear insight into the spread of companies across the energy sector. For instance, 84% of total companies have capabilities in the O&G sector while 38% are working in renewables industries.
With offshore wind being an established market for many years in the UK, EICSupplyMap can be used to identify areas which are considered key strengths. For example, operations and maintenance (O&M) services is the most common offering from companies within the supply chain. The UK is also well positioned to continue providing inspections, coating and maintenance services for the foreseeable future. Additionally, the UK has strong manufacturing capabilities in ancillary and electrical pieces of equipment; nuts, bolts, as well as cabling. Skills learnt from O&G such as remote surveying cross over into the offshore wind industry. We can also identify from EICSupplyMap where the UK falls short; namely the manufacture of turbines, monopiles and foundations factories which are all largely imported into the UK from Europe and south east Asia.
Companies with proven expertise in CC and hydrogen make up around 2% of identified companies. EIC conducted a study into potential capabilities to give an understanding of what the existing supply chain can offer to emerging sectors. Preliminarily the findings found that the UK is technology ready in many aspects of a potential supply chain, however, there was concern around whether the UK has the capacity to meet the future demand set to be generated by government targets. Currently as it stands the proven players within these markets are largely technology providers and pre-FEED companies such as Carbon Clean and C-Capture, and ITM Power respectively for CC and hydrogen highlighting the early stages of these industries. CPH2 and ITM Power are working to develop key electrolyser technologies to bring to market while Carbon Clean and C-Capture are working on capture technologies. Additional work across the CC utilisation and storage sector (CCUS) has been undertaken to understand what key pieces of equipment the UK can provide. Heat exchangers, pumps, valves, drain vessels and compressors are all examples of equipment that can be sourced locally. By using data extracted from EICSupplyMap, one can conclude with targeted development, manufacturers can provide most parts of a CC plant, however there is a need to act quickly to support the larger capacity needed and establish economies of scale to drive down future costs.
Any of the data that was discussed here can be found at: www.the-eic.com/MarketIntelligence/EICSupplyMap
Christopher Shirley Supply Chain Analystchristopher.shirley@the-eic.com
Inside this issue...
It’s time for celebration as the end of the year approaches. Not only has 2022 been a great year for all of us at the EIC, with numerous events held, publications launched, and more, but 2023 is certainly going to be even more special – the EIC is having its 80th anniversary!
We’re currently preparing a dedicated calendar for this landmark to run throughout the next 12 months, so don’t forget to follow us on Twitter and LinkedIn and to keep up with Inside Energy to know of everything that’s about to happen. It will be a pleasure to have all of our members and partners with us to commemorate eight decades of continued growth.
The last 2022 edition of Inside Energy features a glimpse at clean energy markets in the UK, DNV’s research on the future of global grid infrastructures, Teledyne’s gas laser, and much more.
Christopher Shirley, supply chain analyst at the EIC, is the author of this month’s sector analysis. His article explores the diversification of the UK energy mix into energy transition technologies. According to Christopher, there may be a gap between the country’s ambitious net zero targets for the next few decades and its existing supply chain, with further support needed in order to grow capacity. In members’ services we take a look at DNV’s global research with 400 senior energy professionals from 75 countries. Over 70% of the interviewees affirm that existing transmission networks worldwide aren’t capable of linking renewable energy centres to areas of high demand. According to the study, heavy investment is necessary for the improvement of regional connection and distribution and the fulfilment of energy transition.
Teledyne’s spotlight on technology presents its gas laser, a new device with advanced gas detection technology that helps fire personnel and first responders to identify common venting points from a safe distance. The gas laser allows firefighters to quickly respond to and control hazardous locations.
Last but not least, Inside Energy gives you office updates and regional market insights from our hubs in Europe, the Americas, Asia Pacific and the MENA region. As usual, projects and business news from our global members have also been included.
de Castro, Head of Marketing and Communications leliam.castro@the-eic.com
AUSTRALIA
Otway Basin CCS Project
Operator: Beach Energy Value: US$250m
Beach Energy plans to build a carbon capture and storage facility in the Otway Basin. Beach Energy has completed a pre-feasibility study and is advancing to the next phase of the project, with FEED scheduled for completion by Q4 2022.
Global opportunities
BRAZIL
Búzios Oil Field (Phase 10 – P-82 FPSO)
Operator: Petrobras Value: US$4.5bn Sembcorp Marine has been awarded the EPC contract for the P-82 FPSO. The unit will have oil and gas processing capacities of 225,000b/d and 12MMcm/d, respectively, with an oil storage capacity of 1.6m barrels.
GERMANY BASF’s Ludwigshafen Hydrogen Plant
Operator: BASF Value: US$200m
BASF has received €134m from the German government for the deployment of a 54MW electrolyser at its HQ in Ludwigshafen. The plant will produce 5,000 tonnes of green hydrogen and 40,000 tonnes of oxygen per year.
For more information on these and the 12,000 other current and future projects we are tracking please visit EICDataStream
KUWAIT
Mina Al-Ahmadi Refinery – High Voltage Substations Replacement
Operator: KNPC Value: US$100m
The EPC contract to replace the substations at the Mina Al-Ahmadi Refinery was tendered on 5 June 2022 and is expected to be awarded by February 2023. The bid submission deadline for the contract was 1 November 2022.
UK Offshore Wind Farm Norfolk Boreas
Operator: Vattenfall Value: US$3bn Siemens Energy and Aker Solutions have secured an EPCI contract to deliver the grid connection infrastructure. Siemens Energy and Aker Solutions will be responsible for the HVDC onshore and offshore substations and connection to the national grid.
US Beaumont Blue Ammonia Plant
Operator: OCI NV Value: US$450m
KBR has been awarded a contract to supply the technology license, basic engineering design, proprietary equipment and catalyst. OCI plans to transition the project to produce green hydrogen and subsequently, green ammonia, once the production of green hydrogen becomes viable.
EICAssetMap ASIA
Asset-tracking database with 4,300 operational assets for energy O&M opportunities in Asia and ISC
EICAssetMap maps all key energy assets in all energy sectors across the Asia and ISC region.
EICAssetMap, the EIC’s asset-tracking database for all energy sectors, is now available as a new and powerful membership category for the Asia and ISC region including 4,300 assets from over 15 countries.
Companies can grow their business by identifying and engaging with key targets in the operator, developer and O&M contractor communities in Africa, ASEAN, Asia and ISC, Australasia, Brazil, EMEA, Europe and CIS, GCC, Gulf of Mexico and UK with this fully interactive map-based database.
Search for operational assets in key energy markets around the world in all energy sectors to find new O&M business opportunities www.the-eic.com/MediaCentre/Detail?articleId=142
Energy industry leaders see an urgent need for greater investment in power grids to better connect regions, secure reliable distribution of resources and meet climate targets. Three quarters (76%) of the 400 senior energy professionals contacted in 75 countries say existing grid infrastructure can’t adequately connect renewable energy sources to areas of high demand.
DNV predicts that smart grid implementation will not happen quickly enough to support the energy transition without significant investment.
Energy leaders consider grid capacity expansion the most important priority today to meet climate targets, particularly in Europe and among those in the transmission and distribution sectors. This is expected to increase in importance in the next five years in other regions too.
When asked about areas where investment is expected to increase, over half (58%) of respondents mentioned the integration of battery storage systems, followed by commercial solar integration (49%) and electric vehicle infrastructure (49%).
Smart grids, automation and policy reforms (legislation, regulations, licensing and permitting rules) are expected to be the most powerful enablers of a successful energy transition, where success achieves a balance between speed, quality, stability and costs.
DNV predicts that electricity will double as a share of final global energy demand, from 19% to 38%, within the next 30 years. Despite the geopolitical and economic turmoil of 2022, 74% of respondents believe that the energy transition has either accelerated (45%) or not slowed (29%).
The need to transition faster to a deeply decarbonised energy system is transforming the energy industry from within. It is now clear that energy industry leaders see the transition accelerate and welcome it as more of an opportunity than a risk, but policy and actionable regulatory plans are lagging and have to pick up the pace to allow the important investments that are still lacking for a clean energy future.
Visit: https://www.dnv.com/power-renewables/themes/ future-proofing-our-power-grids/index.html
Spotlight on technology
Teledyne Gas and Flame Detection
www.teledynegasandflamedetection.com/en
Teledyne has introduced the gas laser with highly advanced laser technology designed to detect natural gas with the aim of enhancing safety and improving detection for fire services and first responders.
Frequently fire personnel and first responders are called to natural gas emergencies using equipment that puts them close to potentially dangerous structures. The Gas Laser supports remote detection allowing the operator to work at a safer distance from the hazard location.
When access to a property cannot be established, the Gas Laser can operate through glass, giving the user an audible and visual indication to the presence of methane. This quick scan permits fire personnel and first responders to make rapid decisions and establish control of the gas and ignition sources should a gas escape be detected.
Main features:
• Quickly scan common venting points from a safe distance
• Detection distance 30m (100ft)
• 8 hours run-time
• Highly visible, sunshine resistant guide laser equipped for location accuracy
• Graphical interface for easy user interpretation
• Colour camera with Bluetooth, WiFi, and datalogging onboard
• Certified Intrinsically Safe to Class I, Division 2, Group D, T4
Every customer scenario demands a different, customised approach, and Teledyne applies expertise in building the right plan for the right hazards every time. Its complete portfolio and industry-leading fixed and portable gas and flame detection solutions offer expert perspective and quality products you can rely on in the most critical situations.
Get in touch Any EIC members who wish to be profiled in this section please contact Léliam de Castro... Email leliam.castro@the-eic.com
New EIC members
NEW PRIMARY MEMBER
Affinity Test Services Sdn Bhd
Lot 1669 (Sublot 134)
Eastwood Industrial Park Jalan Miri By-Pass 98000 Miri, Sarawak Malaysia
Contact Ahmad Nur Firdause Bin Zainal, Business Development Manager
Telephone +6 085 411 140 Email firdause@affinity-ndt.com Web http://affinity-ndt.com/
Affinity Test Services Sdn Bhd provides non-destructive testing services and consultation in accordance to international and national standards for quality and integrity assurance.
Through years of experience and expertise, it has developed the ability to provide clients with reliable and cost effective services. The company contributes solutions to the oil and gas industries, civil or advanced construction industries, plantation and agricultural, mining, powerplant or essentially, any organisation within any industry which requires quality assurance and integrity checks via nondestructive testing.
Services provided start from the initial fabrication phase to continuous quality and integrity monitoring phase until the shutdown phase.
NEW GLOBAL MEMBER asset55
The Beam, Plater Way Sunderland Tyne and Wear SR1 3AD UK
Contact Abbie Bowman, Marketing Co-ordinator Telephone +44 (0)191 535 8350
Email abbie.bowman@assetfiftyfive.com Web https://assetfiftyfive.com/
At its core, asset55 is a software engineering technology company. It brings together highly experienced industry engineers combined with leading software developers to drive real and positive change within the energy sector.
Aligned across two divisions, Operations and Projects, the company enables change through a portfolio of execution specific software, which share two common traits – improving safety and improving productivity for clients.
From design to construction, through commissioning and operations, to shutdown, turnaround and decommissioning, asset55’s software products and complimentary services are designed to digitise the full lifecycle of an asset and reduce downtime.
Get in touch Share your news and views...
Email newsdesk@the-eic.com Phone +44 (0)20 7091 8600
NEW
PRIMARY
MEMBER Centaur Construction and Services
Unit A1 Atlantic Plaza Pt Lisas Couva Trinidad Contact Javeed Ali, Purchasing Manager Telephone +1 868 275 4822 Email javeed@centaurtt.com Web www.centaurtt.com
Centaur is a premier supplier of industrial supplies. It stocks a large range of pipes, valves, fittings and manufactured fasteners and gaskets. With distribution hubs in Trinidad and Suriname, Centaur is committed to delivering on time and with the highest quality.
NEW PRIMARY MEMBER
Competas Global Ltd
Spartan House
21 Church Lane
Stevenage SG1 3QW UK
Contact Gavin Jones, Head of Product Telephone +44 (0)1438 342 968 Email gavin.jones@competas.com Web https://competas.com/
Competas is an unbiased competency assessment software. Using machine-learning technology, Competas offers assessments for roles and disciplines across the energy industry.
The Competas Passport provides a comprehensive view of an individual’s competencies and psychometric evaluation at-aglance. With its founder’s many years of experience in the energy industry, Competas is committed to helping organisations find the best talent and make better hiring and personnel decisions.
NEW PRIMARY MEMBER Enhydra Ltd
Woodend House Woodend Lane Cromhall Gloucestershire GL12 8AA UK
Contact Peter Cook, Business Development Manager
Telephone +44 (0)1454 262 600 Email sales@enydra.co.uk Web www.enhydra.co.uk
Enhydra is a specialist produced water treatment (PWT), water injection (WIS) and sand management process company offering high performance technologies. Its philosophy is to work closely in alliance with both clients and chosen project specific fabrication partners to ensure that the project is a complete success.
With a lifetime of experience in the design of all mainstream PWT and WIS technologies the company’s engineers ensure that new equipment is only specified where it is needed. If operations can be fixed without capital expenditure Enhydra will make it happen. All good reasons why Enhydra has developed a reputation as one of the world’s most prolific PWT and WIS technology specialists.
NEW PRIMARY MEMBER PT Total Mandiri Selaras
Jl Dr Saharjo No 113 Tebet Manggarai Selatan Jakarta 12850 Indonesia Contact Nova Grace Sutrahitu, CEO Telephone 021 828 5888 Email grace@temans.co.id Web www.temans.co.id
PT Mandiri Selaras was established in 2010. It is a project logistics company situated in Jakarta with offices nationwide. Its network reaches from Aceh to Papua.
PT Mandiri Selaras is present in all the major cities in Indonesia: Medan, Pekanbaru, Palembang, Padang, Semarang, Jakarta, Surabaya, Balikpapan, Denpasar, Makassar, Menado, Gorontalo, Ambon, Ternate, Jayapura, Timika, Wamena and Marauke.
PT Mandiri Selaras’ focus is to provide the best service solutions possible for its clients. Services include customs clearance, domestic transportation, cross docking, warehousing and distribution, project management and other value added services.
The company has more than 200 permanent staff and a project base providing the best services to its clients. PT Mandiri Selaras believes in continuous improvements and works with clients to optimise solutions and gain efficiencies.
The company has adopted PMP methodology to ensure that it is right first time. PT Mandiri Selaras is looking to further develop the energy market segment to strengthen its portfolio.
NEW GLOBAL MEMBER
SVT GmbH
Eisenwerkstrasse 21-27 58332 Schwelm Germany
Contact Alexander George, Technical Sales Manager
Telephone +49 2336 4430
Email a.george@svt-gmbh.com Web www.svt-gmbh.com
As a world leading manufacturer of loading technologies, with more than 50 years of experience in the field of loading technology, SVT develops and manufactures complete loading systems for the safe loading of liquids and gases.
SVT strives to create an exceptional solution while providing the best service to its customers. The company listens and makes sure it understands the needs of all of its customers and works with them to get the most out of your project.
More than 12,700 loading arms delivered to date, including 220 LNG loading arms for 78 different terminals.
NEW PRIMARY MEMBER TNF Energy Sdn Bhd
VSQ@PJCC, Block 5-11-3 Jalan Utara, Seksyen 52 46200 Petaling Jaya Selangor Malaysia
Contact Tengku Faiz Tengku Yusoff, Director Telephone +603 7625 8518 Email tengku.faiz@tnf-energy.com Web www.tnf-energy.com
TNF Energy Sdn Bhd (TNF) is a 100% Bumiputera company, focusing on its expertise in providing professional laser scanning and 3D modelling services. As a licensed company with PETRONAS, and with over 11 years of survey technical support experience, TNF has completed more than 500 surveys and mapping, including engineering, oil and gas projects, non-oil and gas projects, in and outside of Malaysia. TNF is focused on being at the top in possessing up-to-date technology know-how in its field.
TNF is equipped with local own technology assets and skilful manpower to maintain specialist, full expert capabilities, to provide useful, beneficial services to its clients.
In providing 3D laser scanning, modelling, dimensional control, surveying and engineering services, TNF aims to bring forth its services not limited to Malaysian oil and gas companies, but also towards construction, utility companies and any other companies who seek the expertise of its specialisations.
Get in touch Share your news and views...
Email newsdesk@the-eic.com Phone +44 (0)20 7091 8600
Member news
ABB and Hydrogen Optimized expand partnership
ABB and Hydrogen Optimized Inc (HOI), the Canadian technology innovator unlocking green hydrogen production at scale, have signed an agreement to expand the companies’ existing strategic relationship. This includes an investment by ABB into Key DH Technologies Inc (KEY), the parent company of HOI, as they seek to accelerate the fast-emerging green hydrogen production segment with unique large-scale architecture.
By accelerating the strategic collaboration between ABB and HOI launched in 2020, the two companies are advancing the deployment of economic largescale green hydrogen production systems to decarbonise hard-toabate industries that address a wide range of essential needs – energy, metals, utilities, ammonia and fuels for aircraft, ships, trucks and rail. The companies will leverage their respective capabilities and resources to rapidly commercialise HOI’s patented RuggedCell™ high-power water electrolysis technology for the world’s largest green hydrogen plants. Water electrolysis is the process of applying electrical energy to split water into hydrogen and oxygen. RuggedCell™ technology converts renewable electricity such as hydro, solar and wind power into green hydrogen for industry.
Global electrolyser capacity will reach an estimated 3,100GW by 2050, according to a June 2022 report published by DNV. The group forecasts that electricity-based green hydrogen will be the dominant form of hydrogen production by the middle of this century.
Amarinth wins order for pumps destined for Karachaganak
Amarinth, a world-leading, netzero designer and manufacturer of low lifecycle cost centrifugal pumps and associated equipment, primarily for the offshore and onshore oil and gas industries; nuclear and renewable energy generation; defence; desalination; process and industrial markets, in partnership with its regional agent ISG, has won a US$500,000 order from KPO in Kazakhstan for six API 610 OH2 pumps.
The Karachaganak field is the biggest gas condensate field in Kazakhstan and is owned and operated by Karachaganak Petroleum Operating (KPO). The onshore field is spread over more than 280 sq km, near Aksai, in northwest Kazakhstan. KPO approached Industrial Systems Group (ISG), an Amarinth agent and premier supplier of high-quality equipment for the oil and gas and associated industries in the Caspian region, following previous orders placed though ISG that were successfully fulfilled by Amarinth.
The six API 610 OH2 pumps will be used for water and caustic fluid transfer duties.
The pumps are required on a 40week delivery, which is well within Amarinth’s ability using its proven and comprehensive supply chain, despite many other suppliers currently suffering from component shortages and long-lead times at foundries. The pumps will be EAC certified, proving the equipment complies with the Eurasian Economic Union (EEU) regulations and standards for customs clearance and trade.
Amarinth is also handling the complex GOST-K Certificate of Conformity documentary evidence required by Kazakhstan law to prove that equipment meets Kazakhstan requirements and standards, something again that the company has developed expertise in. i
For more information: www.amarinth.com
Ashtead Technology bolsters leadership team with new senior appointment
International subsea equipment rental and solutions specialist Ashtead Technology has bolstered its leadership team with the appointment of Bob Gillespie as commercial director.
The appointment underlines the company’s strategic growth plans as it looks to strengthen its leading position in the global offshore energy market, expand its geographical footprint and enhance its product and service offering across its three service lines – survey and robotics, mechanical solutions and asset integrity.
With recent successes in new and emerging markets, Ashtead Technology has huge potential for growth and I’m looking forward to working with my new colleagues around the world and supporting the company’s future aspirations.
Bob Gillespie, Commercial Director, Ashtead Technology
Mr Gillespie brings a wealth of experience to the role having held various senior positions in the offshore renewables and subsea oil and gas sectors, most recently with Havfram where he was UK managing director. Prior to that, he held senior commercial positions with Fugro, TechnipFMC and McDermott before becoming UK managing director of DOF Subsea.
In his new role, Mr Gillespie will work with the senior management and regional teams to further strengthen existing capability across Ashtead Technology’s core markets and drive forward the company’s growth strategy. i For more information: www.ashtead-technology.com
Asset Guardian Solutions Ltd appoints chief commercial officer
Asset Guardian Solutions Limited (AGSL), a leading innovator in protecting industrial automation and control systems software, has appointed Stephanie Calder to the position of chief commercial officer.
In Stephanie’s new role as CCO, she will oversee all the commercial aspects of the company, from marketing and lead generation, through business development and sales, to contract negotiation and awards.
This is a significant expansion of AGSL, especially on the commercial side. It will prepare the company to move to the next level, providing significant growth within the company. In conjunction with this new role of CCO, AGSL has also restructured the entire company in order to be ready for the challenges ahead, in view of plans to more than double its turnover in the next three years.
This move will allow AGSL to pursue more opportunities throughout the world, adding new geographical areas and industries to its customer base. It will drive development and help AGSL to meet new opportunities while continuing to provide ever-improving features and services for all customers. It will also add significant momentum to AGSL’s growing solutions partner network, facilitating both geographical and technological expansion of its inhouse expertise.
Calder brings extensive expertise in sales and software. Originally from Aberdeen, Scotland, Stephanie has 16 years of experience in sales, as well as 10 years of softwarerelated experience, focusing on inspection, training and the renewable industries.
For more information: www.assetguardian.com
Belzona announces first Chinese board of directors
Global designer and manufacturer of polymeric repair and protection systems, Belzona, has announced the appointments of Charli Yu Walton and Fred Lu as corporate development director (China) and technical director (China), respectively.
Mrs Walton, originally from Harbin, China, joined the company’s marketing team in 2011. Prior to that, Mrs Walton worked as an international business co-ordinator in the Japanese automotive industry. Mrs Walton has acquired considerable experience in B2B marketing and will be responsible for creating and implementing marketing strategies to consolidate and accelerate Belzona’s growth plans in China.
We have set an exciting growth agenda for our brands, where innovation, digital marketing excellence, sustainability and collaboration play a crucial role. I am looking forward to the new challenges this ambitious agenda will bring.
Charli Yu Walton, Corporate Development Director, BelzonaMr Lu, meanwhile, has been promoted to technical director. He holds a MSc in applied chemistry and accumulated engineering experience in top international companies before joining the company 14 years ago as a technical service engineer at its Asia Pacific branch. He will continue to lead Chinese business from the technical perspective and, in light of his new role, will head up the development of Belzona’s training programme and technical service support in the region. i For more information: www.belzona.co.uk
Element Milan expands cryogenic testing capacity
Element Materials Technology (Element) has expanded its cryogenic testing capabilities with new fatigue testing frames at its laboratory in Milan to determine the mechanical properties of materials under cryogenic conditions.
The investment will expand Element’s role in the energy transition through offering testing for hydrogen (H2) industry applications. The new cryogenic testing frames will include a specialised gas control system and will support the growth in demand from existing clients in leading energy and aerospace businesses. Capable of testing to 4 kelvins in liquid helium and 77 kelvins in nitrogen environment, this responds to rapid growth in demand for low and very low temperature mechanical testing.
This investment is part of Element’s plan to expand our offering and support our customers as they require testing to the very highest standards as they bring products to market.
Mark Heaven, Vice President of Aerospace and Connected Technologies, ElementAs a market leader of material testing in environmental conditions, Element works with global energy and aerospace businesses, providing fast turnaround times and excellence within the market. The optimised equipment and gas control system will allow significant cost reduction, particularly in helium consumption and will further strengthen Element’s technical reputation in the sector. i
For more information: www.element.com
Fulkrum, a leading provider of inspection, expediting, auditing and technical staffing to the energy industry, has announced the appointment of Wilson Chettiar as the new country manager for India, further strengthening the group’s strategic expansion into key global markets.
With over a decade of experience working in the oil and gas industry across both onshore and offshore projects, Wilson brings a wealth of business development, strategic recruitment and market intelligence expertise to Fulkrum. In addition to his professional accomplishments, Wilson has also achieved a degree in business management and a bachelor of commerce from Mumbai University.
Wilson joins Fulkrum with extensive knowledge of the Middle East and APAC regions as well as a strong track record in the execution of technical staffing, global mobility and strategic project planning, reinforcing the existing regional teams. As the country manager for India, Wilson will manage all ongoing and upcoming projects within the region. i
For more information: https://fulkrum.com/
Hitachi Energy to support major renewable electricity transmission between New York and Canada
Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, has announced that it was selected by Transmission Developers Inc, a Blackstone portfolio company specialising in renewable power development, to supply a high-voltage direct current (HVDC) converter station that is a key part of the transmission solution for the Champlain Hudson Power Express (CHPE) HVDC interconnection between Québec, Canada and the New York City metro area, US.
The link will enable the delivery of clean, renewable hydropower between Canada and New York, contributing to New York’s Climate Leadership and Community Protection Act (CLCPA), which is aiming for the state to be powered by 70% renewable energy by 2030. CHPE is expected to decrease CO 2 emissions by an average of 3.9m metric tons per year, equivalent to removing 44% of passenger vehicles from New York City.
Fulkrum bolsters Indian office with appointment of industry expert
Using Hitachi Energy’s HVDC Light® technology, CHPE will transfer up to 1,250MW of electricity, enough to power 1m New York households. The link will efficiently transmit electricity for more than 600km (372 miles) underground from Hertel, Canada, through Lake Champlain and the Hudson River, to an HVDC converter station in Astoria, Queens.
Power requirements in cities are increasing, especially in densely populated areas where land is already scarce, and difficulties can arise when new right-of-ways must be secured for traditional transmission lines. HVDC technology enables large amounts of high-quality electricity to be delivered where it is most needed with complete control and with a very compact footprint using out-of-sight underground or underwater cables. The complete CHPE system, of which the HVDC converter stations are the enabling technology, is expected to create more than 1,400 jobs during construction and, during the first 30 years of operation, deliver almost US$50bn in economic benefits to New York state.
For the New York site, Hitachi Energy will supply the HVDC Light converter station, that will convert the DC power from Canada to AC power and make it available for the AC grid in New York.
i
For more information: www.hitachienergy.com
Honeywell introduces next generation ECOMAX® LE burner driving energy savings
Honeywell has unveiled the ECOMAX® LE burner with a metallic recuperator for indirect radiant tube heating applications such as tempering, hardening, continuous lines and annealing. Developed for furnace original equipment manufacturers (OEMs) that need to meet tightening global nitrogen oxide emissions requirements and end users who want to increase fuel gas savings, Honeywell’s latest ECOMAX family member features low emissions, process efficiency and low operating costs.
ECOMAX LE offers both flame and flameless operation, with a switching temperature of 850°C (1560°F). The burner operates in flame mode until the switching temperature is reached, then switches to flameless mode for the best nitrogen oxide performance, delivering an average of 30% fuel gas savings compared to a typical cold air burner and enabling compliance with the latest emissions regulations. In addition, ECOMAX LE burners can run on up to 100% hydrogen without a significant increase in nitrogen oxide emissions, when compared to firing natural gas.
Incorporating Honeywell’s next generation, IIoT-ready burner control unit, the ECOMAX LE features easyto-use on/off or high/low control, with direct spare ignition in flame mode. When operating in low-nitrogen oxide mode, it uses temperature supervision, requiring a separate safety integrity level rated zone control unit such as a programmable logic controller or Kromschröder FCU furnace control device.
Through Honeywell’s lownitrogen oxide and hydrogencapable solutions
reduction commitments and ambitions.
Chad Briggs, Vice President and General Manager, Honeywell
Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Its technologies help aircraft, buildings, manufacturing plants, supply chains and workers become more connected to make the world smarter, safer and more sustainable.
i
For more information: www.honeywell.com
we’re able to put customers on the right path to achieving their emissions
Johnson Matthey to accelerate the deployment of low carbon solutions
Johnson Matthey (JM), a leader in sustainable technologies, is collaborating with ClimeCo, a global climate solutions company, to accelerate the deployment of enhanced carbon capture solutions for industry. Under an MoU, the two companies will help synthesis gas (syngas) producers, initially in hydrogen and methanol, to build the business case for reducing CO2 emissions from existing processes by up to 95%.
Petroplan expands into Asia Pacific and appoints regional director
Specialist energy talent acquisition group Petroplan has appointed Daniel Torpy as regional director for Asia Pacific to initiate its new strategy to expand into the APAC region.
Dan will be responsible for building out the regional infrastructure, developing key strategic accounts in the Asia Pacific region, and driving business expansion in Singapore, Malaysia, Indonesia and Thailand.
Howden secures compressor contract for Iraq Majnoon
oilfield
Global provider of mission critical air and gas handling products, technologies and services, Howden, has secured a contract with Azku Global Services, part of the Khudairi Group. Howden will supply two screw compressor packages to the Majnoon oilfield, near Basrah, Iraq.
The Majnoon oilfield is one of the world’s richest oil reserves, holding the equivalent of 38bn barrels of oil. Howden’s innovative technology will enable the site operator to realise its decarbonisation goals, while continuing to tap into the abundant oil reserves.
Howden’s state-of-the-art screw compressors packages will be installed in Majnoon oilfield’s flare gas recovery system. Waste gas will be recovered and treated to deliver safe, usable fuel gas, saving energy and minimising carbon emissions. With Howden’s compressor solution, Majnoon oilfield will save 42,242 tonnes of carbon emissions per year – the equivalent of annual fossil fuel emissions for 9,100 cars.
Combining JM’s unique skills in technology development and deployment with ClimeCo’s expertise in ESG strategy and regulatory analysis will enable syngas producers to make immediate progress on complex carbon issues by supporting project economics development, de-risking the business case for decarbonisation projects, and providing a mechanism to create validated CO2 emissions reductions and creating compliance credits in many government-backed carbon markets. Together, they will empower customers to make informed decisions on allocating capital for the deployment of JM’s CLEANPACE™ solutions, accelerate emissions reductions, and futureproof their plants against the rising costs of carbon.
Syngas producers are responsible for approximately 70% of CO2 emissions in the chemicals sector. The opportunity for JM’s low carbon solutions to deploy existing technology to over 150 grey hydrogen plants in Europe and North America alone, could reduce CO2 emissions by over 100m tons per year by 2030. This is an addressable market of £1-2bn and Low Carbon Solutions is a key growth driver for JM.
i
www.howdenprocesscompressors.com
For more information: www.matthey.com
With a new regional hub in Singapore, we will start an exciting new era as we accelerate our rate of growth, building on Petroplan’s core competencies with a focus on diversifying from oil and gas into renewables.
Daniel Torpy, Regional Director for APAC, Petroplan
The move signals a major initiative for Petroplan. The expansion will be driven from its headquarters in Singapore, where Dan’s team will be based.
The Group will initially focus on the marketplace in Malaysia, and quickly develop opportunities in other regional markets, in particular the significant number of renewable projects as well as traditional oil and gas markets. The renewable sector offers a wealth of opportunity, with an expected record annual growth rate of 22% in Indonesia over the next five years.
Once established across the APAC region, Petroplan will expand its operations into Australia within 12 months. This will enable the Group to take advantage of current high levels of investment in the country’s renewable energy sector.
i For more information: www.petroplan.com
Proserv acquires stake in power system monitoring expert Synaptec
Global controls technology company Proserv has acquired a minority stake in Glasgow based power system monitoring expert, Synaptec, with whom it had initially formed a strategic alliance in October 2020 to drive forward the innovation of disruptive condition-monitoring technologies for the energy sector.
A technology consortium led and driven by Proserv, including Synaptec and subsea power cable engineering and consultancy specialists BPP Cable Solutions, with initial support from the Offshore Renewable Energy Catapult (OREC), has collaborated to innovate the pioneering holistic cable monitoring system, ECG™, for the offshore wind segment.
Proserv’s ECG utilises Synaptec’s passive electrical and mechanical instrumentation systems, integrating its unique distributed electromechanical sensors, or DES, as a key element.
The potential capabilities of ECG, regarding real-time monitoring and predictive insights, saw it receive £1m development funding from Innovate UK in 2021, alongside industrial sponsorship from ScottishPower Renewables and Equinor.
The technology has won a landmark contract on phases A and B of the vast Dogger Bank wind farm and will be demonstrated on Equinor’s floating Hywind Scotland wind farm this year.
Synaptec is one of several technology disrupters and start-ups with whom Proserv has recently forged alliances, including data analytics firm Intelligent Plant and real-time optimisation innovators Ortomation. These moves reflect Proserv’s collaborative philosophy towards innovation, as well as its strategic roadmap to pivot its business to the needs and priorities of the evolving energy transition.
Sandvik Materials Technology to be re-named Alleima™
Alleima is a leading manufacturer of high value-added products in advanced stainless steels and special alloys as well as products for industrial heating. Its origins date back to 1862 and the foundation of the company Sandvikens Jernverk by Göran Fredrik Göransson, a pioneer in using the Bessemer method for steel production on an industrial scale.
Based on long-term customer partnerships, Alleima advances processes and applications in the most demanding industries through unique materials that are lightweight, durable, corrosion-resistant and able to withstand extremely high temperatures and pressures.
With more than 900 active alloy recipes, Alleima’s offering comprises products for several segments, mainly seamless tubes for the energy, chemical and aerospace industry, precision strip steel for white goods compressors, and air conditioners. Sustainability is present in all aspects of its operations and is an integral part of its commercial strategy. Alleima’s product offering enables the transition to renewable energy sources, electrification of industries, innovation in the medical sector and much more.
Alleima, with headquarters in Sandviken, Sweden, and revenues of SEK13.8bn (€1.26bn) in 2021, has more than 5,500 employees and customers in 90 countries.
For more information: www.home.sandvik/en/
Siemens Energy’s gas power plant achieves Guinness World Record™
Duke Energy’s Lincoln Combustion Turbine Station, powered by Siemens Energy’s SGT6-9000HL (60-Hz) turbine, has been certified with the official Guinness World Record title for the “most powerful simple-cycle gas power plant” with an output of 410.9MW.
As part of an innovative agreement, Siemens Energy installed and is currently testing its SGT6-9000HL turbine at Duke Energy’s Lincoln Combustion Turbine Station, 25 miles north of Charlotte, North Carolina. The new unit can generate enough energy to power more than 300,000 homes. Siemens Energy’s SGT6-9000HL is designed to run longer between maintenance cycles and will be the most efficient of its type in Duke Energy’s fleet (about 34% more efficient than the existing combustion turbines at the Lincoln site). It’s the first 60-Hz HL-class turbine from Siemens Energy.
Sonardyne welcomes customers to new Singapore base
Sonardyne has officially opened its new South East Asia headquarters at Loyang Offshore Supply Base, Singapore.
The three-storey facility, which has been completely remodelled and refitted to meet Sonardyne’s operational needs, has extensive offices and warehouse space, workshop and test tank, as well as visitor, break out and recreation areas.
Leading the official ceremony to open the facility was recently appointed director of operations, Hwee Chin Cheng; head of sales, Jose Puig; and sales director, Steve Martin. The event also provided an opportunity for the company to celebrate its 50 th anniversary with clients and partners from across the region.
Marine technology company Sonardyne was founded in 1971 and has had offices in Singapore since 1994.
i
For more information: www.sonardyne.com
Pipeline technology specialist STATS Group strengthens board
STATS Group has strengthened its management board with the appointment of Ross Wallace as director. Ross joined the Aberdeenshire pipeline technology specialist in 2011 and has worked in several finance roles, including group financial controller ahead of his promotion to finance director.
I was delighted to help North America emerge as one of our most successful regional operations. STATS’ focus on innovation and in pushing technological boundaries is a differentiator and I am looking forward to working with my fellow directors in supporting further growth across the world’s major energy hubs.
Ross Wallace, Finance Director, STATS Group
He was instrumental in helping establish STATS as a major pipeline solutions provider in North America during a seven-year spell based in Edmonton and Houston, before returning to a senior role at STATS’ Kintore headquarters.
STATS principal activity is the provision of pressurised pipeline isolation, hot tapping and plugging services to the energy industry and employs more than 300 staff in the UK, North America, Middle East and Asia Pacific regions.
In its most recent annual accounts to December 2021, STATS posted global revenues of £49.7m (up by 17%), EBITDA earnings of £7.8m and a rise in pre-tax profits to £1.5m.
i For more information: www.statsgroup.com
WIKA: multifunctional shut-off valve for pipelines
Social media round up
A new shut-off valve for pipelines has been tailored by WIKA for applications in the process industry. The model PBV-FS with flange connection is suitable for controlling media flow, for the combination with pressure measuring instruments and as a connection between piping systems.
The shut-off valve is designed with a floating ball and with either a full or a reduced bore. Users can choose between block and bleed or double block and bleed configuration. The model PBV-FS operates with low torque and low wear, and its surface is also corrosion-resistant.
The compact design of the valve enables installation that saves space and minimises leakage. The model PBV-FS prevents any fugitive emissions (leak test in accordance with EN ISO 15848-1). The valve is also tested for fire safety in accordance with API 607, ISO 10497 and BS6755-2.
WIKA also offers a customer-specific assembly of valve and measuring instrument. Such an instrument hook-up is delivered ready-to-install and leak tested.
The EIC
Energy Exports Conference 2023
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UK and Europe news
UK events update
I can’t quite believe that we are coming to the end of 2022 but as the expression rightly says ‘time flies when you are having fun!’ The EIC Events team has had a blast bringing you a host of live and online events throughout the year.
Last month we helped Gurobi host a networking breakfast in Aberdeen. Attendees enjoyed a hearty Scottish breakfast with other energy professionals while learning more about the Gurobi Optimization tool and how it can help maximise business growth.
We also dived into the blue economy in the latest in our Energy Transition Zone masterclass series bringing the north and north east Scotland’s supply chain together to discuss a number of key projects and opportunities to unlock the potential of the blue economy in Scotland’s energy mix.
The last event of 2022 is our Celtic Sea event – floating into a new energy era in Cardiff on 13 December. We have a fantastic speaker line up including RWE Renewables, Blue Gem Wind, Hexicon, EDF Renewables, Celtic Sea Power, to name just a few and we will be discussing the industrial clusters development plans for a long-term international industry base to deliver sustainable jobs and growth for the region.
We would like to take this opportunity to thank you all for your continued support of our events throughout the year and wish everyone a very merry Christmas and a happy new year.
See you all in 2023!
For further information or to find out about any of our forthcoming events please email eventsuk@the-eic.com
Regional Director, UK & Europe jo.campbell@the-eic.com
Middle East news
Regional update
Once again the end of a year reaches us in the blink of an eye. Thankfully a year that moved us forward after the last few years of uncertainty and limited project growth. We have seen the continued evolution of the energy transition met with the energy trilemma as countries try to balance security, affordability and sustainability in how we access and use energy in our daily lives.
Trade missions are also factoring into our plans for next year with initial conversations taking place to run a delegation into Azerbaijan and Mozambique respectively. I would be interested to hear from anyone who would like further information.
Ryan McPhersonOn behalf of the entire team here we would like to wish you and your respective families our very best wishes over the holiday period and a healthy, happy and prosperous 2023. We look forward to hopefully seeing you at some of our events in the new year where we are privileged to support you in any way we can.
Project activity finally picked up this year recovering from the previous lows of the last two years, while not at the level we all dream of with several new finds and investment decisions the landscape is certainly looking better, although with the supply crunch and record levels of inflation upon us the challenges still remain.
Across the GCC countries are strategically positioning themselves to utilise renewable capacity domestically while continuing to export hydrocarbons post-COVID –evidenced by ADNOC’s recent drilling service awards totalling US$1.94bn. It is expected that the region will leverage its growing renewables potential plus its natural gas reserves to transition away from liquid fuel power plants.
This trend will likely carry on into next year and beyond with the advent of COP28 taking place in the UAE towards the end of next year continuing to hold this mirror up to ourselves.
Looking ahead to next year we are excited to launch UAE Supply Map which will deliver a database of UAE supply chain companies across all energy sectors. This will be followed by a Qatar Country Report, making sure that we keep you up to date with the market intelligence required to run your business.
Our events programme will remain strong where in addition to our monthly roundtable series, energy luncheons and regional awards dinner, we will increase our ‘Business Opportunities with’ series with several significant contractors in the region. I am also keen to continue our educational series on ESG and diversity. This is an important topic and I was delighted to hear that the Women in Energy webinar that we ran earlier on in the year remains the most viewed broadcast on EICTV.
And of course, our ever popular Connect series will return to the UAE and also for the first time in Oman, reflective of the multitude of projects launched in the Sultanate of late. Dates will be launched soon so please keep your eyes open.
Ryan McPhersonRegional Director, Middle East, Africa, Russia & CIS ryan.mcpherson@the-eic.com
Regional news
ADNOC sets world record for longest oil and gas well
ADNOC has set a record for the longest oil and gas well at its Upper Zakum oilfield, the world’s secondlargest offshore field that is key to the state-owned producer’s goal of boosting its crude production to 5m barrels per day by 2030. The well, which is 15,240 metres (50,000 feet) long, supports ADNOC’s efforts to expand production capacity of its lower carbon hydrocarbon resources to help meet the world’s growing demand for energy.
Qatar’s first large-scale solar power plant starts operation
The Al Kharsaah solar power plant in Qatar has completed construction and connected to the country’s national grid. Developed by TotalEnergies, in partnership with QatarEnergy and Marubeni, the plant, which is located 80km west of the capital, Doha, is the first large-scale photovoltaic plant in Qatar. With 800MWp installed capacity, Al Kharsaah can supply 10% of Qatar’s peak power consumption and will avoid 26m tons of CO2 emissions over the course of its lifetime.
Forthcoming events
Please go to page 20 to see upcoming events around the world
Asia Pacific news
Regional update
Reaching the end of what has been a busy and eventful year, I am proud of what the EIC APAC team has achieved. From switching back to our physical events model at a time when there was still much scepticism, to hosting more than a dozen events throughout the year, we welcomed in a significant number of new companies to the EIC family. I am also in admiration of our members who have cleverly navigated the past couple of years amidst the pandemic and rapidly shifting energy landscape, adapting and surviving through it all. While the worst seems to be over, there has been a significant shift in the energy sector where energy security is now a top priority. Activity in the region is ramping up and I am already looking forward to what 2023 has to offer.
Last month, EIC APAC partnered with Informa Markets to run a pavilion for exhibiting goods and services offered by our members and affiliates. Dubbed the largest offshore exhibition in Asia, the refreshed tradeshow and conference kept the focus on developments in oil and gas while also showcasing opportunities in offshore wind and hydrogen. EIC APAC also organised the Race to Net Zero – The Tools Needed in Mobilising Energy Transition Executive Briefing session at OSEA. During the session, speakers from PETRONAS, Wood and GE Gas Power shared their organisations’ energy transition strategies and discussed the tools that will enable the decarbonisation of the energy sector.
EIC APAC also organised a webinar on the Fundamentals of Hydrogen and its Potential in Asia Pacific at the end of November. The webinar led by Dr Madana Nallappan, provided insights into the region’s potential for the sector and a close look at the hydrogen value chain and supply chain. The webinar also covered insights in to the safety aspects of the hydrogen sector.
To conclude the year on a high note, EIC APAC will be hosting Christmas and Year-End Networking on 15 December 2022. Looking ahead we are already planning two of our biggest annual events for next year, the Breakfast Networking event in January, and the APAC Energy Conversations in March. We’ve also got many other exciting events lined up for 2023.
Lastly, on behalf of the EIC APAC team I would like to take this opportunity to wish all of you a very happy holiday season full of happiness and celebration and a wonderful new year!
Azman Nasir, Head of Asia Pacific azman.nasir@the-eic.com
Regional news
Woodside advances massive gas project towards
FEED
Beach Energy has completed a pre-feasibility study on a carbon capture and storage (CCS) opportunity adjacent to its Victorian Otway Basin operations and is now moving into the next phase. In the assessment phase Beach will refine the pre-feasibility study, focusing specifically on storage capacity, reservoir selection, injectability, integration and environmental approvals to establish a facility that can capture about 200,000 metric tons/year of CO 2, an amount that would be greater than Beach’s current Otway Basin scope 1 and 2 emissions combined. The next stage is anticipated to be completed by the end of June 2023. Later stages will examine the potential for the facility to become a regional hub for third-party CO 2 sequestration.
New
US$2.4bn
LNG terminal receives approval
Shenergy Yangshan LNG has received approval to build its second terminal in Shanghai to meet increased gas demand. The company, a joint venture between power utility Shenergy on 60%, CNOOC Gas & Power on 20% and Zhejiang Energy on 20%, said the local decision-making body, the Shanghai Development & Reform Commission, and its Zhejiang counterpart have given the go-ahead to build the terminal. Located east of the existing LNG terminal operated by Shenergy Yangshan since 2009, the new 17bn yuan (US$2.4bn) terminal will incorporate facilities capable of handling 6m tonnes per annum.
EIC Newsbriefs
membership@the-eic.com
North and Central America news
Regional update
During the fall months as the year comes to an end, conferences, exhibitions and in-person meetings are in full force. September and October proved to be busy months for the EIC North and Central America team as we had the opportunity to attend and participate in Breakbulk Americas, CCUS Summit, TPS TAMU, IMAGE 2022 and SPE ATCE 2022. I had the pleasure of moderating the CCUS in achieving zero carbon economy panel at the CCUS summit alongside Amanda Raddatz Bopp, principal consultant in the CCUS venture, DNV; James Campos, partner at RES, former US Department of Energy assistant secretary of the Office of Economic Impact and Diversity; Presit Gawade, executive director – new energies, Baker Hughes; and Dan Hancu, senior program manager, point source carbon capture, US Department of Energy. Throughout the course of this panel, speakers were able to discuss the research and development of CCUS, current policy framework and how CCUS technologies play a role in achieving climate goals.
In addition to the exhibitions and conferences attended, our region had the pleasure of welcoming Bechtel, pictured, to our Houston office for an in-person, member only business briefing as part of the North and Central America business briefing series. We welcomed James V Hart, corporate manager of supply chain operations and Kelly Kuntscher, deputy procurement operations manager as they discussed global project opportunities, key messages to vendors and the procurement process. If any EIC members were unable to attend the sold out October briefing session and would like to participate in our second briefing with Bechtel taking place in December, please reach out to adriana.romo@the-eic.com or visit www.the-eic.com/EventDetail?dateid=3530
Amanda
DuhonRegional news
California OFW lease sale on 6
December
The Bureau of Ocean Energy Management (BOEM) will hold California’s first offshore wind energy lease on 6 December. Five areas will be offered in the Humboldt and Morro Bay wind energy areas (WEAs) located off the state’s northern and central coasts, respectively. The two WEAs can support at least 4.5GW of capacity from offshore wind projects, according to BOEM, which completed the environmental review of both areas earlier this year. The upcoming lease will be an opportunity for floating offshore wind developments –a key area for the Biden administration. In September, the government announced a goal to achieve 15GW of floating wind capacity by 2035.
BP buys US biogas player
Regional
Director,North & Central America amanda.duhon@the-eic.com
Forthcoming events
Bechtel Business Briefing
Tuesday 6 December 2022
Join the EIC’s in-person members only Business Briefing series as we are joined by Bechtel. To register for the December briefing please visit: www.the-eic.com/EventDetail?dateid=3530
EIC Night with the Houston Rockets
Thursday 15 December 2022
Join the EIC for a fun night of basketball and networking at the Toyota Center. To register, visit: www.the-eic.com/EventDetail?dateid=3606
The oil major announced earlier in October the acquisition of Archaea, a US biogas player, for US$4.1bn. Archaea is the operator of 50 renewable natural gas and landfill gas-to-energy facilities across the country. The transaction will allow BP to increase its biogas production by 50% and greatly contribute to the IOC’s goal of achieving net-zero emissions by 2050.
Forthcoming events
Please
South America news
Regional update
With 2022 coming to an end, the EIC South America team attracted over 1,300 attendees at more than 20 events with key players such as Petrobras, Equinor, TotalEnergies, Trident Energy, 3R Petroleum, SBM, Modec, Wood and many others. It was great to see our members network at our in-person events, especially the breakfast series, which were a huge success. The virtual webinars were kept on the agenda to include those that can’t come to the region and are all available on EIC TV. We would like to thank all attendees as well as speakers for their valuable time and expertise.
In October, we were happy to receive the visit of Neil Golding, EIC’s director of market intelligence. Neil had the chance to join us on two in person events: our first renewables breakfast in Rio that covered offshore wind, in partnership with Wood, Neoenergia and TotalEnergies. Wood’s managing director, Hughes Corringan shared their North Sea experience that could contribute greatly to the development of the Brazilian offshore wind sector (including turbine design, mooring and cable analysis). Adriano Gouveia, offshore wind development manager with Neoenergia (Iberdrola) gave an instructive lecture on the challenges facing Brazil in building this new sector. Neoenergia was the first company to seek environmental permits for three offshore wind projects in Brazil, with a total capacity of 12GW by 2030. Fernanda Scoponi, TotalEnergies’ senior business developer presented on the three projects planned to start operations in 2030.
In Macaé, the EIC partnered with Redepetro (a network of companies in the Campos Basin) and Sebrae (association of small and medium enterprises) to deliver the event: The Importance of New Players and New Markets in Diversification. Neil Golding presented a global energy project market outlook including supply chain constraints and opportunities with an emphasis on offshore wind, hydrogen, carbon capture and oil and gas. Pietro Ferreira, senior analyst, Americas, presented on diversification opportunities in South America. The event ended with Trident Energy’s procurement senior buyer, Andre Nalesso providing an update of the company’s activities in Brazil and how to do business with them. The event attracted over 120 attendees and it was a valuable opportunity for the EIC to strengthen relations with the local supply chain.
In order to guarantee high visibility and promotion during events we introduced co-host packages allowing companies to take advantage of our sponsorship opportunities. In 2023, your company can make the most of this opportunity which includes the possibility to deliver a presentation, moderate a session, VIP tickets for guests, social media posts, brand exposure in marketing emails, brand visibility through pop-up banners and more. Our events team has crafted special packages that will suit you and your company’s needs. Contact us via rio@the-eic.com and schedule a call.
The Rio team hopes you’ve enjoyed being a part of all of this as much as we have, and we wish you all a happy new year, and look forward to 2023.
Clarisse Rocha, Director – Americas clarisse.rocha@the-eic.com
Chile greenlights energy storage bill
Brazil advances regulation for OFW
Brazil’s Ministry of Mines and Energy (MME) has issued a pair of normative ordinances to help foster the advancement of the country’s nascent offshore wind sector. Through Ordinance 52, MME defined the complementary rules related to the onerous use of offshore areas with the purpose of generating electricity. The entity also demanded the creation of PUGOffshore, to be managed by national power regulator ANEEL, a public online channel where projects will be listed, providing transparency and allowing developers to pursue an Application for Assignment of Use.
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The Chilean Senate has voted into law a bill that promotes investment in energy storage and electromobility as routes towards carbon neutrality in the country. The bill, which regulates standalone energy storage schemes for the first time, will reportedly lessen pressure on Chile’s congested T&D network as well as indirectly encourage continuous funding of renewable electricity projects. A quicker phasing out of active coal-fired power stations in the country has been agreed as a positive consequence of the measure.
RelyOn Nutec
Building unrivalled position in the global energy transition with cutting-edge technology and structural change
How is RelyOn Nutec thriving?
Once a traditional, dispersed, oil and gas dependent business, RelyOn Nutec has successfully transformed to become a unified, optimised, and diversified business perfectly positioned for the global energy transition. With new technologies helping to unlock previously untapped efficiencies and a staunch determination to futureproof the business in new markets, the safety training service provider has become much better placed to navigate the difficulties created by the COVID-19 pandemic.
The challenge
Having previously stood as the safety training services division of the Falck Group, the enterprise rebranded to RelyOn Nutec in 2019 as part of a broader transformation journey – a journey born out of several challenges.
A strategic review in 2017 revealed that it was difficult to see how the safety training business would grow and maximise its true potential if current practices continued, particularly in aftermath of the 2014-2016 oil crises that had left the organisation in a precarious situation.
Indeed, RelyOn Nutec (then Falck Safety Service) embarked on a widespread revision programme, a thorough yet necessary operational audit resulting in cost reductions of more than 30%. Yet this was just one outcome of the audit. Furthermore, the firm recognised the difficulties it faced by running a disjointed international organisation that stemmed from multiple disparate acquisitions.
Between this inefficient structure and overly heavy dependency on an oil and gas industry that had been
plunged into significant uncertainty, the safety training specialist was forced to take drastic action.
The solution
To find firmer footing, RelyOn Nutec initiated significant restructuring in the old Falck Group, a process that began to show positive outcomes as early as 2017.
Come 2018, the enterprise was then sold to Danish private equity firm Polaris, presenting an opportunity for the organisation to further its transformation ambitions. Indeed, thereafter it set about digitising, automating and integrating its portfolio to optimise operations while also diversifying its business model to move existing competences held in oil and gas into other industries. Here, markets such as offshore wind, renewables and maritime were all targeted successfully.
Between rolling out a standardised financial systems platform and a centralised website, the firm quickly began eliminating inconsistencies and unlocking efficiencies.
As a result of this progress, the firm began to experience consistent revenue growth, its EBITDA rising 7-8% in 2016, another 9% in 2017 and a further 18% come 2019. Resultantly, the company was able to acquire Aberdeen Drilling School in 2018, while it also purchased a digital learning platform in 2019 to kick-off the digital transformation.
Such milestones continued, with RelyOn Nutec further acquiring a simulation business in 2019 that offered a variety of technologies from downhole simulation for oil and gas projects to topside simulations, real-time simulations and crane simulations, bolstering the firm’s
training assets. In the same year, it also brought a workforce competence platform on board to manage compliance and best practice across large-scale, blue-collar workforces.
By 2020, the organisation was growing 10% year-overyear – an optimistic wave that was unavoidably subdued by the impacts of the COVID-19 pandemic. With the transformation only part-way complete, the business was badly hit.
Indeed, it was a large bump in the road for the company, yet its ambitions of transforming remain bolder than ever. Moving forward, the firm has regrouped and looks set to continue striding ahead with its transformation plans, combining digital and physical learning resources to its clients across a broad range of sectors.
With energy transition, advanced learning technologies and digital services now at the heart of its strategy, and with the business also eyeing new sectors for potential growth, RelyOn Nutec has shifted away from its unsustainable over-reliance on the oil and gas market looks to excel in a futureproofed manner for years to come.
Indeed, the firm successfully grew its renewables business by 40% in 2021 – a position that it will continue to build upon in 2022 and beyond as it continues to increase its profitability.
About RelyOn Nutec
RelyOn Nutec is a global business delivering safety and competence services across the world, helping customers protect their people, assets and the environment. Headquartered in Copenhagen, RelyOn Nutec has over 50 years of experience in delivering compliance and competence services for high-risk industries, including training, advanced learning technologies, applications, consultancy, and simulations. Since its beginning, the company has led the industry through the intelligent application of leading-edge technology, the maintenance of a safe workplace and the protection of the environment.
Story type
#transformation (main category)
#digital
Benefits
• Renewable industry services grew by ~40% in 2021, with similar growth rates ahead
• Users of our applications increased by +150% in 2021
• Digital learning completions increased by +300% in 2021
• Growth of digital business: from 1% in 2019 to 10% in 2021
• Renewables increase: from 6% in 2019 to 10% in 2021
Key findings
For industry
• Make sure to deliver more than expected
• Set a clear path to not deviate too much from target
For government
• Frame conditions need to be adequate, available, and consistent long term to allow energy transition to be successful globally
Government support?
The company has been supported by the Furlough scheme.
RelyOn Nutec at a glance: Key products and services: Training (online and face-to-face), consultancy, simulation technologies, applications and managed services for high-risk industries.
Main industries served:
• Oil & gas – 62%
• Renewables – 14%
• Maritime – 7%
• Others – 17%
Headquarters: Copenhagen, Denmark
Year established: 1968
Number of employees: 1,000 Revenue: £100m Revenue from exports: 95%
Restrata
Adapting in the face of adversity
How is Restrata thriving?
Restrata demonstrated an incredible ability to adapt in the face of adversity. Through the development and launch of its COVID Safe module in just three months, a workforce infection and contact tracing digital tool leveraged by 70,000 users across the energy and sports market in 2020, the firm was able to kick on with the subsequent rollout of its Incident & Crisis Management platform, deployed across 40 companies since its launch in February 2022.
The challenge
Restrata is best described as a software-as-a-service (SaaS) specialist providing a unified platform for energy and industrial companies to manage their safety, security and resilience in one place. With various solutions at its disposal, the firm helps to assess its clients’ risks and prepare them for managing crises, running a 24-7 response service from Aberdeen for a global market, offering consulting and training too.
By the turn of the decade into 2020, the company had built a formidable reputation in the SaaS market, grasping the requirements of its energy customers and indeed the wider industry in detail with a 15-year proven track record under its belt.
It had just launched a new product when the pandemic hit and slowdown on new deals was felt. Resultantly, while the firm had gathered significant momentum heading into the year with a healthy number of upcoming deals, these were put on pause during a time of significant uncertainty.
In the immediate aftermath its future pipeline was impacted. At the same time, the firm suddenly had to respond to all its client needs on a remote basis almost overnight.
The solution
A company priding itself on meeting the needs of its customers, the Restrata team did not wallow in its misfortune. Instead, it reacted with a swift and innovative strategy, immediately considering how it might adapt to support clients and help them manage the risks of COVID-19 head on.
Client services being the first priority, Restrata immediately migrated to a remote service for the response & consulting services. This meant every company who depended on Restrata was served, a strategy helped by significant technical investments made in the previous year.
With a proactive and positive outlook, it wasn’t long before Restrata began to spot new fertile grounds. While the firm initially focused on supporting governments with quarantine management, many of its initial efforts were placed into the development of COVID Safe – a new service developed between March-June 2020.
The COVID Safe module was designed for the COVID health status tracking & contact tracing of individuals, Restrata partnering with HID for its tags and RTLS hardware to develop the location-based capabilities that the platform required.
Supported by a 24-hour shift mode internally to ensure its rapid development, testing and design, the COVID Safe module for the Restrata Platform was rolled out in just three months. Further, upon its completion and market launch in June 2020, COVID Safe was initially adopted by the England & Wales Cricket Board for the management and verification of COVID health status at international cricket tournaments. However, energy and industrial firms quickly followed suit, the tool having supported 70,000 individuals globally across these two markets to date.
Genel Energy stands as a prime example demonstrating how Restrata Platform and its newly-launched COVID Safe module is able to support energy firms to great effect. Here, the client has deployed it for managing COVID-19 across 10 of its sites in the UK, Turkey and Iraq, the technology allowing 1,500 of its workers to operate safely during the pandemic period. Equally, it has ensured journeys between its sites have been reduced and optimised, reducing its carbon footprint by 20%. Where Genel Energy’s travel requests had created huge admin burden, these were also digitalised through the platform and helped the company to realise significant time savings.
In addition to COVID Safe, Restrata also developed and launched its Incident and Crisis Manager (ICM) product as part of Restrata Platform. Having begun development in 2020, the tool was initially trialled with Restrata’s Aberdeen Global Operations Command Centre and had its full market rollout in February 2022. ICM actively supports companies in overcoming traditional incident management challenges, connecting all three levels of response management in one single platform. Through rapid sharing of critical information across site response teams, incident management teams and crisis management teams, it ensures they have the right information to act at the right time.
In the face of extreme pandemic-induced turbulence, Restrata has emerged in a strong position, having doubled the size of its research and development team by the end of 2020. Early 2021, meanwhile, was spent focusing on design and aesthetics. Users only use this type of system in time of crisis and exercise drills, so it must be simple and intuitive.
With such impressive projects, the firm has demonstrated a proven and admirable ability to adapt to the needs of the market at times of crisis.
About Restrata
Restrata Platform connects decision makers in global organisations to information on the ground for better safety and security decision-making. Since 2006, Restrata has been on a mission to optimise business operations with the effective management of safety and security risks. With offices across the world, a strong heritage of projects in the UK and Europe, and a focus on expansion across the Middle East and Africa, Restrata shares its knowledge and expertise across the globe as it helps to develop critical infrastructure and national security strategies.
Story type
#innovation (main category)
#resilience, #digital, #diversification, #scale up
Benefits
• Development of Restrata’s crisis management skills
• R&D team doubled in 2020
• Over 40 clients using ICM three months from launch
Key findings For industry
• Don’t postpone tough decisions, be agile as early as possible
• Have a deliberate balance between opportunistic and long-term vision
For government
• Align the energy transition and geopolitical security agendas
• Modernise the support given to small businesses willing to export
Government support?
The company has received R&D tax credits.
Restrata at a glance: Key products and services: unified platform for energy and industrial companies to manage their safety, security and resilience.
Main industries served:
• Oil & gas – 70%
• Renewables – 15%
• Industrial – 15%
Headquarters: London, UK Year established: 2006
Number of employees: 100 Revenue: N/A Revenue from exports: 70%
Samuel Knight Energy
Enhancing potential with Project Solutions
How is Samuel Knight Energy thriving?
A business that was entirely reliant on the mobility of onthe-ground specialists, Samuel Knight Energy (SK Energy) successfully adapted in the face of COVID-induced adversity, employing a localised approach in key markets with its thriving Project Solutions services and a rapid expansion plan to better meet the needs of its clients.
The challenge
Samuel Knight has youth on its side in the grand scheme of the energy industry. Founded in 2014 as a global manpower solutions specialist supporting the energy and rail industries, the company has spent its early years building successful foundations on agility and adaptability.
That said, the company initially wasn’t clear on how they could truly influence the market at scale, eventually coming to identify the massive opportunity it had to become renowned as a key contributor within the renewables arena. However, achieving this in recent times has been easier said than done.
Where the company received institutional investment three years ago, it had been tasked with managing a rapid expansion strategy with investment in offices across the US while also growing its funding and crediting facilities to attract larger global projects. Albeit promising, this growth plan has put a significant strain on the firm’s financial resources.
Further, as a manpower specialist, SK Energy’s business model is highly reliant on having bodies on the ground – a model that has been challenging to sustain in the face of a global pandemic. Where the firm previously needed to shift specialists from country to country, such mobilisation became extremely difficult in the face of national
lockdowns, forcing the firm to adapt in order to continue securing new projects.
The solution
To manage the COVID-induced mobility challenge, SK Energy set about building local networks of specialists in each region that would be able to reach projects more easily than those international experts hampered by border closures and travel-related quarantine requirements. In doing so, the company has tapped into local labour markets, reducing costs for its clients in the process.
The firm recognises the importance of contributing to those communities in which it operates, doing so by developing key partnerships with local training schools to help upskill local talent. It’s a strategy that not only ensures it can prepare for growth in renewables markets, but equally obtains the necessary local certificates and meets local content requirements while giving back to local people.
In the face of COVID, the company has excelled. While many of its early contracts were primarily located in the UK and Europe, SK Energy now manages complex projects across the Asia Pacific and Americas regions thanks to astute localised networks. Through this broader reach, the company has also been able to move from a scatter gun approach and over reliance on a select number of global clients to supporting many smaller businesses, dramatically reducing risk.
In wind, the firm now works with all major OEMs across both offshore and onshore segments, having established intimate working relationships with major players. Yet the company offers its solutions across a wide range of market segments.
Its relationship with Siemens stands as a prime example, stemming from the construction of three of the largest combined-cycle gas turbine (CCGT) power plants in Egypt back in 2016. To support the project effectively, SK Energy set up a local Egyptian entity, allowing its 38 engineers and supervisors to be locally sponsored, improving compliance and visa management. In doing so, the company was both able to comprehensively meet Siemens’ needs and set up a legal entity from which it could spread its wings and secure further contracts with other local clients.
The first example of this approach, it has since become an integral part of SK Energy’s business model, the service now known as Project Solutions. Here, the firm is working with numerous major players including General Electric (GE).
Its work with GE includes its largest ever contract at the Markbygden offshore wind farm in Northern Sweden. While GE doesn’t a local services team on the ground here, the company has opted to manage the project with a contract model, trusting SK Energy to do so as the firm knows what is required and therefore reduces risk.
Today, GE taps into 18 SK Energy specialists in Sweden and 35 globally – a significant proportion of the 200-strong team of Project Solutions personnel.
Indeed, the future looks bright for Samuel Knight Energy moving forward. Not only has the company managed to adapt in a smart way in order to better meet its clients’ needs and reduce costs in the face of adversity, but its Project Solutions division has grown by 56.3% during the period 2020-21 with £4 million of new business, this now driving 90% of total revenue.
About Samuel Knight Energy
Samuel Knight Energy is a global recruitment and project manpower specialist, providing skills and project solutions to the energy sectors on a permanent, contract and project basis. SK Energy covers the renewables, power generation, transmission and distribution, nuclear and oil and gas segments. The company’s contractor services offering includes mobilisation of contractors, payroll, immigration, registration, taxation as well as contractor care and localisation. In addition, SK Energy also provides bespoke skills testing, competency-based interviewing as well as industry and market trend insights.
Samuel Knight has offices in Bristol, London, Newcastle and Wales, in addition to US offices in Boston, Dallas and Chicago.
Story type
#serviceandsolutions (main category) #export, #scaleup
Benefits
• Project Solutions division generated £4m in new business
Key findings
For industry
• Be flexible and consultative with clients, add value to the best solutions
• Empower staff to achieve objectives
• Don’t be afraid to seek advice
For government
• Have an in-depth understanding of your country’s markets instead of resorting to populist policies
Government support?
The company has benefitted from the UK government’s Furlough scheme.
Samuel Knight Energy at a glance: Key products and services: provider of specialist technical and engineering manpower
Main industries served:
• Renewables – 70%
• Conventional power – 20%
• T&D – 10%
Headquarters: Newcastle, UK
Year established: 2014
Number of employees: 52
Revenue: £21.2m
Revenue from exports: 75%
Score Diagnostics
Gaining traction abroad to offset market conservatism in the UK
How is Score Diagnostics thriving?
Armed with innovative non-invasive valve testing solutions, Score took the bold decision in 2010 to focus away from the UK market in the face of poor adoption by oil and gas industry operators, who were reluctant to invest without extensive evidence of a successful track record of local implementation. Having encountered a more receptive international audience, the company has gone on to make sales and deliver multi-million-dollar savings for a wide range of customers throughout the world.
The challenge
Score has been engaged in the design and manufacture of valve condition and performance monitoring equipment and systems for several decades. It continues to innovate with new solutions to serve its customers in the oil and gas, petrochemical processing and refining, nuclear and utility market sectors.
Its MIDAS® range of equipment and systems is designed to make in-situ testing safer, faster, easier, more reliable, lower risk and lowest possible cost. The firm prides itself on helping customers to optimise operational efficiency and profitability through maximising process uptime and reliability, whilst also contributing to sustainability objectives by providing solutions for emissions elimination.
Score’s home market, the UK, however, has been slow to adopt new and innovative technologies. Much of this is driven by a reluctance within operators to invest in diminishing reserves and operational assets with shortterm life expectancy, yet the company also came up against a proof-of-concept barrier. Potential customers were citing a lack of previous success stories as a reason to delay investment. To solve this situation, Score turned
its attention further afield.
The solution
In light of the slow growth and adoption of the firm’s technologies in its home market, under the stewardship of CEO Ian Davidson, Score pushed harder in international markets. The initial objective was to see if the company could excite and engage other internationally based organisations in its product and service offerings, starting with its hand-held valve leak detection tool, MIDAS Meter®.
In 2010, Score attended a high-profile US tradeshow targeted at the nuclear industry. Armed with just a prototype, it saw high demand and received orders or formal expressions of interest from half of the market’s major players inside six months. This experience truly opened Score’s eyes to the opportunities of exporting, and since then has supported the development of its regional offices and workshops around the world to tremendous effect.
Indeed, once the first few customers were secured and served, Score was able to tell local success stories and attract the attention of other local operating companies. Many of these were brand new markets for Score, meaning it also opened-up many opportunities to crosssell and up-sell its other products and services.
Many landmark projects have been completed in the time since. In 2017, the company completed a highly successful flare reduction project for a USA based chemicals company. Here, using its MIDAS Meter® on a “surveys-as-a-service” basis, Score completed a non-invasive survey of 62 valves over four days. Eight of the valves in the targeted valve population were the source of the unintended release of
around 615 tonnes of gas emissions per annum. Using this data, the customer focused efforts on repairing the eight leaking valves, saving significant time and avoiding ‘just in case’ repair costs on the other 54. This, along with the recovered gas, has delivered multi-million-dollar savings.
In Houston, Score is facilitating savings of between $30 million and $36 million per offshore oil platform. Traditional critical valve testing typically costs up to $3 million per test and can take 24 hours to complete, meaning the platform has to shut down and incur huge losses in production. Thanks to Score’s non-invasive testing technology, enormous savings and productivity gains can be made.
Meanwhile, in Oman, an oil and gas production company is utilising 21 MIDAS Meter® kits across 18 operational sites, having re-written its in-line valve testing procedures around Score’s solution. This has enabled the client to drastically cut losses in production to the tune of around $50 million per year in savings.
Such successes have helped Score to amass a formidable library of case studies that can now be used to sway prospective clients back home. Thanks to the bold decision to concentrate on export markets, the company is on track to reach £1 million in MIDAS Meter® sales, services and training revenues in 2022, doubling the number of 2019.
Moving forward, Score Group is cautiously optimistic that the introduction of new targets and compliance requirements on emissions reduction (for instance, on unintended flaring and venting emissions) will help highlight the relevance and value-adding capabilities of its products and services.
About Score Diagnostics
Score Diagnostics Limited is a leader in valve leak detection and valve condition and performance monitoring. Using acoustic emission (AE) technology as one of its primary tools, it has revolutionised in-line leak detection, quantification and trending, making it quicker and easier than ever before. Score Diagnostics is part of the Score Group, a specialist in valves, fuel systems and accessories, and component manufacture. Score provides complex engineering solutions to support customers in multiple markets including defence, nuclear, aerospace, utilities and energy. With facilities in over thirty locations spanning five continents, the company employs more than 1,800 staff, including 350 apprentices.
Story type
#export (main category)
#technology, #diversification, #energytransition
Benefits
• Combined annual cost savings exceeding $100m (of which $56m are linked to a single platform)
Key findings For industry
• Don’t be paralysed by the pursuit of perfection. Take immediate advantage of “better” without having to wait for “best” – best can be acquired later.
For government
• Be as inclusive and collaborative as possible. Understand all possible impacts prior to policy implementation.
Government support?
The company has benefitted from the Apprenticeship Levy in addition to R&D tax credits.
Score Diagnostics at a glance:
Key products and services: design and manufacture of valve condition and performance monitoring equipment and systems
Main industries served:
• Oil and gas – 90%
• Nuclear – 10%
Headquarters: Peterhead, UK
Year established: 2012
Number of employees: 12 Revenue: £1.5m
Revenue from exports: 80%
Serimax Northern Europe
A story of determination and diversification amid the pandemic slowdown
How is Serimax thriving?
Like many service suppliers to the oil and gas sector, the arrival of the COVID-19 pandemic could not have come at a worse time for Serimax. With the industry just about recovering from the crisis of 2014/15, projects were once again put on hold as lockdown and travel restrictions decimated demand, forcing the company to adapt. But adapt it did, applying its pipeline fabricating expertise to the utility sector, where last year it picked up a landmark utility project after impressing in trials and winning the client over with its open, responsive and can-do approach to business.
The challenge
Set on the road to recovery following the oil crisis of 2014/15, specialist pipeline fabricator Serimax had reason to be optimistic. By 2020, the firm had emerged strongly, winning an award from the EIC and equipped with a highskilled workforce ready to fulfil a growing order book.
In March 2020, everything changed. The arrival of the pandemic prompted another price plunge as lockdown restrictions ground economies and international travel to a halt, putting the buffers on any hard-earned momentum Serimax had built up.
The crisis forced the company to close entirely for two weeks, with an internal taskforce established to understand and implement changes to working approaches and QHSE policies. Projects were disrupted. In Cyprus, having already committed to completed a series of works, Serimax had to work around staffing complications caused by border closures and quarantine rules. The team stood up to the
task, honouring the contract and delivering professionally and on time.
As the pandemic developed, however, deferred projects started to be cancelled altogether, leaving gaping holes in the order book that the company had to fill.
The solution
It soon became clear to VP NEU Dave Mackay and his leadership team that Serimax had to spread risk by opening up alternative revenue streams.
In fact, Mackay was already in the process of building a diversification strategy, realising in late 2018 that the company was too reliant on the oil and gas sector. Since then, the firm has been building contacts, acquiring information, skills and training requirement, as well as welding specifications for new markets such as utilities and hydrogen gas.
In 2021, a major breakthrough arrived in the form of major utility contract win.
The client was seeking a welding and fabrication partner to work on its unique spiral wound, zero-flush pipeline in Lincolnshire, joining pipes together in a series of trenches. Serimax, recognising it could apply its expertise to this brief, secured the project after impressing with its expertise during the trial phase which saw it achieve a 100% clean outcome with zero splatter and infiltration into the pipe. Furthermore, the client identified with Serimax’s open approach and responsive attitude to communications, fully aligning with its ‘how can we help, let’s get it done’ mentality.
The firm is currently working on phase one of the project
with a team of 20 employees, a contract worth £1 million that has the potential to expand in scope given the client’s objective to complete and flush test 500 kilometres of pipe by 2025.
Testament to Serimax’s can-do attitude is the fact that, alongside tendering for the project, the company had to requalify for numerous welding certifications specific to the utility sector, covering issues such as CO2 awareness and working in confined spaces. This also included certifications for working on the client’s construction sites, a make-or-break hurdle that had to be overcome in a matter of weeks. Nominated by the client, and as a direct result of their open and collaborative partnership, Serimax has been shortlisted for a prestigious industry award in the Collaboration Award category.
Having enjoyed some initial success in the utility space, the door is now open to pursue opportunities pertaining to hydrogen gas pipelines, a move which could help the company to increase its share in revenues from diversified lines of business even further. With the utility sector already accounting for around 10% of all income, Serimax looks set to transform into an entirely different commercial enterprise as it seeks further growth in utilities and energy transition markets.
About Serimax
Serimax is a specialised welding company offering a range of services to support industry demands from basic to sophisticated welding parameters. With almost 50 years of experience, the company offers specialist expertise in fully integrated welding, fabrication, engineering, technology, field joint coating, nuclear, inspection, training, research & development, and full project management services. Operating in the most extreme conditions and challenging environments, Serimax supports these market sectors in all welding applications from deep, ultra-deep (HPHT), nuclear, landlines, and fabrication. Serimax has its headquarters in France and offices in the USA, Scotland, Russia, Brazil, Malaysia, China, Australia, and the UK.
Story type
#diversification (main category)
#culture Benefits
• £1m contract award in the utility segment.
Key findings
For industry
• Make a commitment from a project, learn from it, upscale it and keep growing.
For government
• Stop talking, start doing.
Government support?
The company has not received any type of government support.
Serimax at a glance:
Key products and services: Specialist pipeline fabricator
Main industries served:
• Oil and gas – 85%
• Utility – 10%
• Other – 5%
Headquarters: Paris, France
Year established: 1978
Number of employees: 120 Revenue: £18m
Revenue from exports: 33%
Strategic Growth Services
A startup proven in supporting ambitious growth strategies
How is Strategic Growth Services thriving?
Albeit a new entrant in the energy market, Strategic Growth Services (SGS) has already developed a renowned reputation among several repeat clients. Leveraging a 20-person strong global expert network and EIC’s DataStream to create bespoke, best-fit project portfolios for customers, the firm has a proven track record in accelerating the growth, diversification and exporting ambitions of energy players globally.
The challenge
Launched in 2020, SGS is a new figure within the energy industry, the company founded with the vision of supporting sector players in sustaining and growing their business in key markets.
Now two years in the making, SGS’s startup journey reinforces Henry Mintzberg’s statement that “all strategy making walks on two feet, one deliberate, one emergent”. SGS was originally launched in the midst of a pandemic to help businesses (particularly SME’s) grow into new regions and/or sectors using a systematic process based on reliable project intelligence. Setting up a business during a pandemic reinforces the need to be nimble and flexible while delivering customer value at all times. While the initial focus was on smaller SME’s who lack the internal strategic resource, there has been a more recent focus on larger businesses as well.
With a clear vision on delivering tangible business growth, the SGS team has remained unwavering in its ambitions of helping its customers in expanding their horizons.
The solution
At the outset SGS relied upon the reputation of its
founders including CEO John Young, the firm coming to secure its first business through word-of-mouth referrals and recommendations. Yet equally it ensured that a new similarly positive company-centric reputation was established thereafter.
The company invests significant time and effort in understanding the core skillsets of its clients – their success criteria, the core projects that they focus on, contracts they have won and why, alongside unique selling points and other areas of significance.
Through this analysis, SGS is able to develop a bespoke ‘best-fit project template’ for each of its customers that are visualised through pivot charts and broken down by sector. Once this has been achieved, the firm begins to look for suitable project candidates. Here, it leverages the EIC DataStream as a project tracking database – a resource which equally helped SGS to identify suitable customers itself.
Engagement plans are subsequently built for projects that are deemed suitable, the firm leveraging the varied experience of its 20-strong global team of experts in doing so. Underpinned by remote workers in disparate locations, this network has benefitted from the more flexible ways in which people want to work because of the pandemic. Resultantly, SGS has been able to assemble a team of industry leaders that support its needs as and when required.
Indeed, between COVID-19 acting as a catalyst in this way and a proven ability to adapt the SGS focus and offering as needed, the company has already reached several impressive milestones. Having won seven clients in its inaugural year, this number then jumped to double figures by April 2022, with all customers engaging with the company for repeat consultations and business thanks to high satisfaction rates.
A case in point comes in the form of the firm’s dealings with Walter Tosto – an industrial machinery product manufacturer that sought assistance in building its presence in the UK market. Here, SGS built a portfolio of 35 high-potential projects, taking into account skillset relevancy as well as assisting the company in consulting its targeted clients with engagement strategies and contract development.
Owing to proven capabilities in these endeavours, SGS is now supporting Walter Tosto in identifying collaborative opportunities in the UK to accelerate its growth ambitions, as well as assisting it in widening its portfolio through the identification and evaluation of new technologies for investment.
The benefits of a dynamic team are the ability to recognise market issues and quickly help develop solutions which meet the needs of customers. Examples of this nimble and flexible approach to lead the conversation include:
• Founding Financing Technology to Net Zero, a collaborative initiative, with the aim to help create conditions for accelerated investment in net zero technologies. There are nine member companies including Siemens Energy, Wood, the Net Zero Technology Centre, Greenbackers Investment Capital and the EIC.
• Recognising the challenge for many companies to develop a robust ESG strategy. Strategic Growth Services have recently launched their E-SGS Dashboard and Index, a systematic methodology (built to ISO standard methodology and utilising accepted principles) that businesses can use to ensure they have a complete and comprehensive response to ESG.
Its successes are also reflected in ambitious revenue growth. While the firm recorded revenues exceeding £200,000 in 2021, this is forecast to rise to over £750,000 in 2022 as it continues to both consolidate and expand. Such figures are highly impressive given the short timelines involved. A startup that has managed to thrive during a period of significant uncertainty, SGS looks set to kick on for many years to come.
About SGS
As the global energy picture is changing, it becomes imperative to develop a robust business strategy and action plan to enable transition from current to future energy scenarios. This is where Strategic Growth Services enters. SGS is a global network of experienced strategy and business development executives and its vision is to provide a range of bespoke consulting services which enable customers to grow their business. SGS’s methodology ensures customer success through rigorous alignment of our customer’s strategies and action plans, with reliable project intelligence.
Story type
#service & solutions (main category)
#collaboration
Benefits
• Seven clients won in the company’s first year, now they are 10
• All clients returning for new engagements
• Revenue to surpass £700,000 in 2022
Key findings For industry
• Large companies should communicate better their energy transition and ESG needs to the supply chain
• Avoid the risk of a single-client base, be ready for change
For government
• Enable systems and processes that deliver the necessary capability growth for energy transition
Government support?
The company has not received any type of government support.
SGS at a glance:
Key products and services: Business consulting services.
Main industries served:
• Oil & gas – 75%
• Hydrogen – 25%
Headquarters: The Hague, Netherlands
Year established: 2020
Number of employees: 2
Revenue: £200,000
Revenue from exports: 100%
STATSSupporting net-zero ambitions with innovative pipeline isolation technology
How is STATS thriving?
STATS Group is committed to incorporating sustainability into its core activities to assess and measure its social and environmental impact. The company is in a strong position to capitalise on new opportunities arising in the transition to more sustainable energy supplies and a carbon netzero future. Between its industry leading pipeline isolation technology, local presence in key markets and a proven tracked record, STATS continues to demonstrate innovative capabilities in helping organisations to save emissions while providing significant carbon price savings in the process.
The challenge
The growing volume of net-zero discussions, underpinned by the lead up to COP26 in 2021, provided much food for thought for STATS. A company specialising in the supply of isolation, hot tapping and plugging services, it has long been an entity working closely with oil and gas firms – a role that CEO Leigh Howarth recognised as a position of both great influence and opportunity.
Understanding that alignment with sustainability was vital to both the future of the planet and STATS UK Limited itself; the Chief Executive recognised the need to properly evaluate where the company lay on the sustainability spectrum and how it could further shift this dial in order to reduce its own footprint while also supporting the netzero endeavours of its clients.
The solution
From mid-2020, STATS began to consider sustainability in all key business decisions while also conducting a thorough review of all activities – a movement that has gathered momentum over the past 18 months.
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Indeed, these sustainability-driven ambitions have resulted in a variety of different initiatives.
The company assessed its own carbon footprint in a prioritised fashion, focusing on achieving quick wins by addressing energy supply, factory lighting technology and circular economy issues.
Many parties were consulted to unlock a variety of useful ideas and insights on this front, including a student at Robert Gordon University in Aberdeen who helped to visualise what a successful sustainability policy should look like, and how all operating regions of the company could be engaged effectively to build awareness and ensure widespread buy-in. Equally, the company created a global sustainability steering group, co-chaired by its QHSE and commercial directors, with representatives from all regions.
The results of this extensive review process showed that the company had largely already been operating sustainably thanks to previous actions over the past decade that had focused on innovation and localisation.
STATS has been investing directly in the geographies in which it operates and building local teams, for example. This approach includes offering extensive training and development to staff, preferring to provide long term opportunities and societal contribution as opposed to temporary positions.
From its excellent safety records to talent development to the contribution of wealth via tax payments, competitive salaries and infrastructure investment, actions previously focused on ensuring STATS acted as a sound corporate citizen in all its operating regions had laid much of the groundwork for its sustainability endeavours.
In terms of supporting its client’s net-zero ambitions, meanwhile, the company also found a useful way to measuring its contributions.
Its industry leading pipeline isolation technology is delivered on a localised basis and supports significantly reduced venting, resulting in huge emissions savings. Recognising this has helped to expand STATS’ marketing endeavours, helping the company build these ‘banking benefits’ as a critical message into its commercial proposals.
A case in point is in Qatar. Here, STATS deployed its double block temporary pipeline isolation tools for a client to safely isolate a 38” 80-kilometre stretch of pipeline without the need to depressurise the entire pipeline, helping to avoid the discharge of significant quantities of CO2 into the atmosphere. Indeed, it is estimated STATS technology prevented 9,600 tonnes equivalent of CO2 being released – which, based on carbon tax equivalent pricing on 2022 CO2 rates, also saved their client $750,000.
This is just one of multiple success stories that are tremendously supportive of STATS’s energy transition ambitions – experience that will prove invaluable in supporting the energy transition of other firms moving forward.
Indeed, with such an esteemed track record and ambitions to expand further into new energy markets such as CO2 and hydrogen blended pipelines, the future looks incredibly bright for STATS as it progresses on its sustainability path.
About STATS
STATS Group are market leaders in the supply of pressurised pipeline isolation, hot tapping and plugging services to the global energy industry. Their primary services are isolation and intervention of pressurised piping and pipelines, as well as a range of mechanical pipeline connectors and repair clamps. . The company has its own proprietary technology, such as their DNV type approved isolation tools, with leak-tight dual seals, that enables safe and efficient maintenance and repair of onshore, topsides and subsea pipeline infrastructure.
STATS Group’s vision of producing specialist tools and technology services for a safer energy industry is carried out by over 320 employees, spread across the world. With headquarters in Aberdeen, the company operates globally with sites in the USA, Canada, the UAE, Qatar, Oman, Malaysia and Australia.
Story type
#sustainability (main category)
Benefits
• Prevented 9,600 tonnes equivalent of CO2 being released in the atmosphere, allowing client to save $750,000 in carbon tax
Key findings For industry
• Do not accept greenwashing
• It takes more money and time than usually expected to grow a global, sustainable business
For government
• Absent of long-term cross-party commitment to achieve strategic goals
Government support?
The company is supported by the Apprenticeship Levy programme and receives R&D tax credits.
STATS at a glance:
Key products and services: Isolation, hot tapping, and plugging services to the international energy industry. Main industries served:
• Oil & gas – 100%
Headquarters: Aberdeen, UK
Year established: 1998
Number of employees: 320 Revenue: £50m Revenue from exports: 87%
Swagelok
A decisive, effective and empathetic COVID-19 response supported by a localglobal business model
How is Swagelok thriving?
Materials science, product design, and fluid system performance solutions provider, Swagelok has emerged strongly from the COVID-19 pandemic thanks to its highly coordinated response that has enabled it to maintain uninterrupted production schedules while keeping its associates and their families safe. Detecting the urgency of the situation early on, the company quickly developed and deployed new policies which have allowed for continuity of service, its protocols being recognised in several of its locations around the world as best practice examples to follow.
What’s more, Swagelok has been able to keep customers happy because of its unique Sales & Service Centre (SSC) distribution model, which grants local autonomy to these exclusive but independently-owned and operated companies, which benefit from the Swagelok’s global expertise and resources.
The challenge
Any company with 20 manufacturing facilities, five global tech hubs and a network of more than 200 authorised sales and services centres spread across 70 countries would find it difficult to maintain operational continuity during the height of a worldwide pandemic. Whole economies shutdown almost overnight, deemed essential businesses were allowed to continue operating, providing they enact strict health and safety regimes –measures which themselves caused mass operational disruption.
For Ohio-based Swagelok, this was exactly the situation it was faced with. Few saw the pandemic coming, and when
it arrived, quick and decisive action was needed to not only ensure the safety of its workforce associates, but also the continuity of its output.
The solution
Central to the company’s pandemic response has been its values-based decision-making culture which places people at the heart of its strategies.
In the case of COVID-19, it prioritised the safety of all associates and their families while operations continued, ensuring no staff were laid off and no outbreaks occurred. Indeed, to date no COVID-19 cases from internal transmission have been recorded.
These impressive outcomes are the result of a wellexecuted strategy that kickstarted with the assembly of a COVID-19 crisis response team whose decisions and safety measures were based on available data and guidance from leading public health and safety organisations, including the US Centers for Disease Control (CDC). The team’s focus concentrated on three key areas – associate impact, business continuity and communications (both internal and external).
Permitted to continue operating through lockdown restrictions as an essential business, Swagelok acted swiftly and cautiously, with many of its initial measures continuing through the course of 2021. For example, the company proactively created and maintained quarantining and return-to-work protocols for associates who reported confirmed or potential exposure to COVID-19, and also set up a dedicated Associate Resource Center to take calls and manage the return-to-work process. Meanwhile, daily self-check procedures and enhanced hygiene, cleaning
and facemask protocols were adopted alongside socially distanced staggered shifts that limited the number of people congregating in communal areas.
Remote work has also been embraced where feasible, including a new virtual process for customer inspections that would previously have been conducted on-site. Using a headset that connects to a virtual meeting, Swagelok has been able to safely leverage its global network of engineers who can quickly evaluate the problem, find the root cause analysis, and propose options to customers as if they were together in the same room.
The merits of the company’s Sales & Service Centre (SSC) distribution model has also come to the fore. Made up of a network of independently owned and operated businesses who are only permitted to sell Swagelok’s centrally designed and produced solutions, the company is able to leverage the best of both worlds. Its local footprint enables fast on-site response (and minimal COVID-19 disruption due to international travel restrictions), while global expertise is always on hand as a valuable backup resource when needed.
As a result, Swagelok has maintained a highly satisfied customer base during the pandemic period – with its pulse surveys largely returning scores well above 90%. And after coming off a strong 2021, it can look ahead to enjoying even more fruitful relations with clients, suppliers and its associates around the world.
About Swagelok
Swagelok Company is a $2 billion privately held developer of fluid system products, assemblies, and services for the oil and gas, chemical and petrochemical, semiconductor, and transportation industries. Headquartered in Solon, Ohio, U.S.A., Swagelok serves customers through approximately 200 sales and service centers in 70 countries, supported by the expertise of more than 5,700 associates at 20 manufacturing facilities and five global technology centers.
Story type
#culture (main category) #innovation, #resilience
Benefits
• No internal COVID-19 transmission cases
• Maintenance of client’s satisfaction
• Returning scores above 90%
Key findings
For industry
• Invest in the development of core employee base
• Be an active listener to learn from feedback
For government
• Make the development of energy transition policies clearer for companies to plan around it
Government support?
The company has not received any type of government support.
Swagelok at a glance:
Key products and services: Leading development and provision of fluid system products, assemblies, services, and training for the oil & gas, chemical and petrochemical, semiconductor, transportation, and power industries.
Main industries served:
• Semiconductor – 35%
• Oil & gas, chemical – 32%
• General – 27%
• CNG/Mobility – 6%
Headquarters: Solon, USA
Year established: 1947
Number of employees: 5,500 Revenue: £1.6bn Revenue from exports: N/A
T12 Consultancy
Efficient and effective ‘engineering on demand’
How is T12 Consultancy thriving?
Founded in March 2020, T12 Consultancy launched into the engineering consultancy market, offering efficient and effective “engineering on demand” services. Like with most companies, what happened over the next 18 months was completely unforeseen and caused T12 to reassess their priorities. They pivoted and adopted their plans to focus on building a solid foundation to foster success into the next year.
T12 excelled in its inaugural year, surpassing revenue targets projected for its first year, backed by a secure base of diverse clients operating in multiple sectors.
The challenge
T12 was launched with a solid and objective business mode: to offer a refreshing approach to engineering consultancy, putting customer focus, responsiveness, and agility at its core. T12’s founders identified a gap in the market and, after holding initial discussions at a restaurant whilst sat at table 12 (where the company name was settled upon), went for it.
However, with no external investment and a challenging global situation, significant additional focus had to be put on planning, risk management and strategy – enabling T12 to survive through 2021 and thrive into 2022 and beyond.
The solution
At launch, the firm immediately began to market itself as an ‘engineering on demand’ service provider, its consultant engineers offering to design, build, install and apply critical technologies across many sectors, from forward-thinking
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energy companies and tier 1 service providers to onshore industrial firms.
This approach proved to be highly successful and yielded almost instant results, that aligned with T12’s core values providing opportunity through diverse capability. In the first month of operation, the company secured two key contracts: to design a linkspan bridge and provide structural integrity assessments for a client operating in the energy-from-waste industry.
The company’s vision of a customer-focused, responsive, and agile consultancy was proven out at rapid pace in a challenging environment. Once the vision was shown to be successful, T12 began to consider its longer-term strategic goals, looking at how it could add maximum value through on-demand engineering. Indeed, it was determined that everything would be based on outcomes – an approach that was genuinely value-led, and not driven by perceived value.
Such an approach has proven to be a hit among T12’s clients and earned the company’s diverse base. In the UK, T12 has secured an ongoing engineering service contract at a large tier 1 COMAH site, providing brownfield structural modifications and late life extension of largescale industrial assets. In parallel, T12’s expertise and knowledge of offshore equipment have secured multiple contracts supporting multinational energy services companies, supporting engineering, design, product development and delivery.
Further afield in Latin America, T12 signed a 2-year master services agreement with a forward-thinking, disruptive international energy company. The company has one of the industry’s most experienced teams in the science of operating and redeveloping mid-life oil and gas assets.
T12 supplemented the client with further engineering and technology expertise in late life extension (LLE) by gathering historical data from multiple sources, in various formats and languages, digitising, and analysing it. This enabled the client to enhance decision-making in support of asset life extension.
Additionally, T12 is further improving its offering with developed bespoke software, aiming to bring this subscription-based solution to the wider market.
These are just a few examples of T12’s responsive and innovative determination to add a value proposition to large corporate process and workloads. The company has demonstrated successfully that it is able to get to the source of any problems and solve them expediently ‘on demand’.
Of course, as is unavoidable with start-ups, there have been challenges along the way. In the face of COVID-19, the company’s launch and growth were at a slower pace than anticipated, and the firm struggled to establish itself within the marketplace due to the vast constraints placed on business development, networking, conferences and face-to-face meetings. Yet despite a challenging environment and small setbacks, its launch has overall been a resounding success.
To date, T12 has completed projects spanning everything from linkspan bridge construction, energy-from-waste, offshore and onshore petrochemicals, late life extension and asset integrity management, including on-site surveys and support where required.
Having recently completed its first full year of operation, the firm now has a secure and sustainable revenue stream underpinned by a base of diverse clients across multiple sectors. T12s’s future is bright. Looking ahead to 2022 and beyond, revenues are expected to grow year on year, supporting profitable and sustainable growth.
At just one year old, T12 is undoubtedly a resounding success story and one to watch for the future.
About T12 Consultancy
T12 Consultancy is an engineering and technology company that provides technical solutions for its customers. The company offers design, engineering, and innovation to execute complex projects. Its founding principles consist of putting customer focus, responsiveness, and agility at its core, developing innovative technology solutions across a broad range of industries.
Story type
#innovation (disruptive) (main category) #digital, #resilience
Benefits
•
Large corporate processes and workloads simplified
• Revenue to double in 2022
Key findings For industry
• Make decisions quickly
• Innovation never comes from big engineering departments: invest in SMEs
For government
• Support the Oil & Gas sector and other successful UK industries without restrictions
Government support?
The company has not received any type of government support.
T12 Consultancy at a glance:
Key products and services: Engineering on demand: consultant engineers designing, building, installing, and applying technology across many sectors such as oil & gas, renewables, and construction.
Main industries served:
• Offshore Energy – 50%
• Renewables & New Energy technology – 20%
• Onshore Industrial – 30%
Headquarters: Edinburgh, UK Year established: 2020 Number of employees: 12 Revenue: £1.5m Revenue from exports: 50%
Texo
Transforming a disparate company into a one-stop shop
How is Texo thriving?
In just four years, TEXO has transformed from a disparate collection of companies into a thriving multi-disciplinary industrial services business able to access much larger and more complex contracts, and delivering measurable impacts for its customers. This has been possible because of wholesale changes made by MD Chris Smith, who has introduced a culture of ‘together we are one’. Being able to work on complex projects from design to installation is making TEXO a force to be reckoned with.
The challenge
TEXO, founded originally as an amalgamation of several acquisitions in 2018, has always housed the expertise and knowhow needed to offer clients a comprehensive turnkey service – from engineering and fabrication to state-of-the-art survey and specialist recruitment.
However, in its first two years of operation, up to 50% of contracted work was being outsourced, despite the fact that the business could have drawn on internal expertise instead. In 2019, Chris Smith arrived as Managing Director and immediately noticed the disconnect – he was at a loss as to why employees were not working together across different parts of the organisation, sharing ideas and collaborating more on client projects.
This disconnected way of working was having a negative impact on the business’s reputation, internal culture and bottom line. So a radical overhal was needed to allow
TEXO to work to its strengths, putting it in a position to transform its offering and its profitability.
The solution
In response to the situation he inherited, Chris Smith set about developing a transformation programme to optimise internal processes, enhance company culture and put a structure in place that allowed the business to bid for and deliver complex projects that used all TEXO’s expertise and ability. This meant some tough but necessary decisions and has resulted in a cohesive and collaborative business that is quickly establishing a leading position in its field. Chris Smith admits facing a challenge or two when breaking down the old behaviours, and has been surprised by how many clients were originally unaware of TEXO’s scope of expertise.
Today, all seven business units now operate under a single TEXO umbrella. While each unit still has its own monthly goals and targets to work towards, frequent internal meetings between units is now the norm, with bonuses and incentives in some partially linked to the performance of the business as a whole.
Indeed, a ‘together we are one’ mindset has been instilled; a culture whereby sub-optimal performances in one area are actively offset by positive performances in others, with budget and financial performance data of every division shared across the organisation. Chris Smith also hired a new bid manager with an organisation-wide remit, with enquiries now shared between all units to ensure each has the opportunity to feed value into every tender. This new approach is complemented by a centralised CRM system
that manages all opportunities and clients, again providing a means for the company to widen its scope by granting visibility to all expert stakeholders in the company.
This reaction from customers has underlined the importance of making the transition, which is also paying financial dividends. So far, the company calculates that it has saved around £10 million that would have otherwise been spent on outsourcing, with 90% of work now being completed in-house. This is helping to improve margins, which will see the firm profit more from the work it is contracted to complete.
And the volume of work being secured is also looking healthy. TEXO has already recovered to well above pre-pandemic revenue levels, with income for 2022 projected to reach £40 million (a £15 million increase on 2019’s turnover).
TEXO’s transformation is already having a huge impact both in terms of adding value to clients and boosting the financial performance of the organisation. Now a united company with colleagues across divisions pulling together in the same direction, it is well-positioned to write the next chapter in its growth journey.
About Texo
TEXO is an Aberdeen-based multi-disciplinary industrial services company that provides services in the oil and gas, renewable energy, nuclear energy and marine sectors. The company’s team is made up of engineers, constructors, surveyors, designers, creative thinkers, service-givers and problem solvers. TEXO offers seven distinct services: Engineering & Fabrication, Workspace Solutions, Asset Integrity, Recruitment, Port Services, Livestream and Land & Aerial Surveys. Between them, these services support customers both onshore and offshore to design and complete essential projects on time and on budget. TEXO won “Young Business of the Year” at the Courier Business Awards 2019, “Transformation Award” at the EIC Awards 2021 and “Business Transformation” at the Scottish Engineering Awards 2022.
Story type
#service & solutions (main category)
#optimization
Benefits
• ‘Together we are one’ approach enabled £10m in revenues
Key findings
For industry
• Retain and look after your staff: one can’t go wrong with a great team
• Diversification is key to work across different markets, sectors, and changing client needs
For government
• Provide more support in accessing new market sectors and diversify within the UK
Government support?
The company receives R&D tax credits.
Texo at a glance: Key products and services: One stop shop with services for the whole asset life cycle: engineering & fabrication, workspace solutions, asset integrity, recruitment, port services, livestream and land & aerial surveys.
Main industries served:
• Oil & Gas – 50%
• Renewables – 20%
• Building – 10%
• Utilities (water, transmission lines) – 10%
• Marine – 10%
Headquarters: Aberdeen, UK
Year established: 2018
Number of employees: 100 Revenue: £30m
Revenue from exports: 0%