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Subsea companies
show way forward
Ports, Marine and Offshore
A
LTHOUGH the North East oil and gas
supply chain has felt some effects of
the economic downturn, the sector
appears to have weathered the storm
reasonably well when compared to other
sectors.
It would be wrong to say that trading
conditions are not difficult for some businesses;
however, overall the outlook is still very bright for
companies supplying to the energy industries.
The challenge for businesses affected by the
downturn is to look to the sunrise on the horizon
and actively prepare their operations for the
undoubted upturn.
Companies should not waste this recession. It is
vital that supply chain companies undertake
activities that will strengthen their businesses so
that, as the global economy recovers, they are
well-placed to capitalise on the opportunities.
In the North Sea region alone, large and small
operators are continuing to plan investments in
The dynamism and
forward-thinking of
companies like SMD will
ensure the North East
energy sector has a
brighter future
FORWARD-
THINKING
George Rafferty,
Chief Executive
of NOF Energy.
extracting the significant reserves that remain to
be recovered. According to the Department of
Energy and Climate Change there could be
around 20 major projects totalling multibillion
pounds of investment.
These opportunities will require lean and
effective supply chain members, which can
compete with companies from around the world.
The state of the economy is concentrating the
minds of the supply chain and utilising NOF
Energy's business development services is playing
a key role in providing support and
opportunities. We are working closely alongside
them as they strive for improved performance
levels and cost efficiencies.
Within the North East, the subsea oil & gas
sector is demonstrating this ethos as it knows
how integral it will be to recovering energy
resources from some of the most hard-to-reach
locations on the planet.
While it has not been immune from the
recession, the subsea sector has benefitted from
the existing global operations taking place
around the world and has been preparing for a
surge in activity.
Alongside NOF Energy, Subsea North East,
which is made up of a significant number of
active companies in the sector, is championing
the sector around the world to increase
opportunities coming to the region.
Companies like Wallsend-based SMD have
continued to succeed in a tougher market and are
perfectly placed to take advantage of a future
upturn.
SMD is one of the world's leading specialists in
designing and manufacturing remotely-operated
subsea vehicles for the oil and gas, submarine
telecoms and oceanographic research sectors.
The company was recently named the Fastest
Growing Business in the North East at the Ward
Hadaway Fastest 50 Awards, which demonstrates
the considerable efforts the company has
put in recent years to succeed, even in trying
times.
The dynamism and forward-thinking of
companies like SMD will ensure the North East
energy sector has a brighter future and can
continue to be one of the first choices of global
operators for supply chain solutions."
George Rafferty, Chief Executive of NOF Energy
STAVANGER
BERGEN
OSLO
ABERDEEN
BIRMINGHAM
BRISTOL
SOUTHAMPTON
NORWICH
STORNOWAY
DURHAM TEES VALLEY
LEEDS BRADFORD
HUMBERSIDE
LIVERPOOL
WICK
NEWCASTLE
CARDIFF
EAST MIDLANDS
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