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UK: Oil and gas plans paying dividends

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Oilfield Technology,


UK Engineering firm FES International says the government’s plans to stimulate investment in the oil and gas industry are already paying dividends.

The subsea specialist supplies components for the offshore industry and the major part of its business is supplying global export markets. Its products are used by some of the world’s biggest oil producers including Shell and Total.

In the past 12 months, the firm has won a number of multi-million pound contract wins closer to home in North Sea fields. BG Knarr, Maersk Gryphon, Bluewater Pierce have all awarded contracts for fluid transfer systems to FES International.

UK government strategy for oil and gas in the North Sea

Earlier this year the government published its Oil and Gas Strategy and is committed to signing contracts for future decommissioning relief, paving the way for increased investment in the North Sea.

FES International, which has a £15 million turnover, moved into a new 35 000 ft2 manufacturing headquarters in Ashington, Northumberland, UK this year and is already planning a further expansion of its business after winning new contracts.

Local manufacturing, local people

Based only a couple of miles from the former Alcan Aluminium plant that closed last year with the loss of 500 jobs, the firm estimates that 90% of its products are manufactured within a 35 mile radius and employs in excess of 300 people in the supply chain. The UK oil and gas supply chain has over 1000 companies with combined revenues of £27 billion.

Rob Anderson, Managing Director of FES International said: “This is a North Sea oil revival that is made in Britain. As a company we’re very much export focused, with clients in countries such as Australia, Brazil and Malaysia among others. In recent months we’ve noticed an increasing number of opportunities coming from firms operating the UK continental shelf.”

Adapted from press release by Elizabeth Corner

Read the article online at: https://www.oilfieldtechnology.com/exploration/01082013/uk_oil_and_gas_plans_paying_dividends_says_subsea_specialist_fes_international/

 

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