Strong opportunities for regional supply chain as North Sea sector returns
Published by David Bizley,
Regional offshore oil and gas services have never been better placed with the technical expertise and experience to support a returning North Sea sector, says Joe Orrell, managing director at engineering services firm RED Engineering.
“There’s no doubt that as oil and gas reserves become more difficult and costly to recover, the demands for innovative technology have never been greater.
“But it also provides an opportunity for North East among other companies who have grown-up on the back of innovation and engineering excellence to show their capabilities as the sector returns.
“Investment in new technologies and engineering talent alongside experience gained working around the world for international operators, has secured a strong position and reputation for locally-based oil and gas service expertise and knowledge.”
Firms such as RED Engineering, which is based in Hexham, Northumberland, are well placed says Joe Orrell to support the development of the new production methods that are required to secure the reserves that are increasingly being found in ‘small pools’.
“We are seeing strong opportunities for the North East’s supply chain in areas such as subsea vehicles, pipe and cable lay systems, subsea infrastructure and hardware while other knowledge-intensive services remain strong.
The supply chain in the North East has long been an integral part of the North Sea success story. There are now 50 companies employing 15 000 people who generate more than £1.5 billion per year in revenue for the regional economy.
This includes RED Engineering which has rebranded with a change of name and identity. Joe Orrell says the commitment to engineering excellence and customer service will remain core.
“Like many in the region we had to widen our focus; changing our identity to reflect this. We remain confident in the future of our oil and gas business and the opportunities in other areas such as nuclear decommissioning and offshore renewables.”
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/06072017/strong-opportunities-for-regional-supply-chain-as-north-sea-sector-returns/
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