EIC Survive and Thrive Volume IV

Survive & EIC Insight Report 2020 VOLUME IV

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Any enquiries should be directed to: Stuart R Broadley, FEI, Chief Executive Energy Industries Council (EIC) 89 Albert Embankment London SE1 7TP Tel: +44 (0) 207 091 8600 Email: stuart.broadley@the-eic.com

Copyright Š 2020 EIC (All rights reserved) No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the EIC. The information herein is provided by the EIC and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to this report or the information, products, services, or related graphics contained in this report for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will the EIC be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profit arising out of, or in connection with, the use of this report.

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Contents Executive summary 4 Overview of companies and strategies 8 Comparison table 11 Key statistics 12 COP26 14 COVID-19 culture 16 Key lessons: government 18 Key lessons: business leaders 20 Success stories 23 3M......................................................................................................................... 24 A&P Group............................................................................................................ 26 Advanced Insulation.............................................................................................. 28 Aker Solutions....................................................................................................... 30 Alderley................................................................................................................. 32 AqualisBraemar..................................................................................................... 34 Aquaterra Energy................................................................................................... 36 Aubin..................................................................................................................... 38 Balfour Beatty........................................................................................................ 40 BMT...................................................................................................................... 42 Brainnwave............................................................................................................ 44 CalGavin................................................................................................................ 46 Crondall Energy..................................................................................................... 48 Crowcon............................................................................................................... 50 DNV GL................................................................................................................. 52 GWEC Offshore..................................................................................................... 54 Hi-Force................................................................................................................ 56 Indra...................................................................................................................... 58 Inverroy................................................................................................................. 60 KBR...................................................................................................................... 62 McMenon Engineering Services............................................................................. 64 OGM..................................................................................................................... 66 Osbit..................................................................................................................... 68 Oxford Flow........................................................................................................... 70 Quanta.................................................................................................................. 72 rhi.......................................................................................................................... 74 Risktec Solutions................................................................................................... 76 Roxtec................................................................................................................... 78 Serimax................................................................................................................. 80 SPP Pumps........................................................................................................... 82 STATS Group........................................................................................................ 84 Tube Tech International.......................................................................................... 86 Turner & Townsend................................................................................................ 88 TÜV SÜD EnergieTechnik...................................................................................... 90 TÜV SÜD National Engineering Laboratory............................................................ 92 Valor...................................................................................................................... 94 VWS Westgarth..................................................................................................... 96 Waves Group ........................................................................................................ 98 Whittaker Engineering.......................................................................................... 100 Wood.................................................................................................................. 102

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Executive summary

Executive summary Survive and Thrive 2020 (Volume IV) charts the course that 40 EIC member companies have taken to grow against a backdrop of continued market uncertainty, UKChina trade tensions, OPEC disagreements, low or negative oil and gas prices and COVID-19, compounded by very tight margins, fierce competition, and Brexit looming large.

Participating companies in this research have a wide range of growth strategies, scale, capabilities, products and services and provide a representative cross sample of the UK energy supply chain.

Case studies represent international Tier 1 EPC contractors and large OEMs through to small, UK-focused family run SMEs, and cover the entire energy spectrum of oil & gas, power, nuclear, renewable energy and energy transition.

An overview of the companies and their Survive and Thrive strategies can be found on page 8. Please do take the time to read each organisation’s individual success story – the work they are doing to grow and flourish despite, and in many cases, as a result of the market crisis makes for remarkable reading.

As well as detailing these individual growth strategies and lessons for industry (the most important ones have been highlighted on page 12), this report provides invaluable first-hand information from the UK supply chain about what it needs from government to thrive. The key recommendations for government are listed on page 18.

Finally, with COP26 having been re-scheduled to November 2021 in Glasgow, each participating business was asked to comment on their wishlist from government around the topics of decarbonisation and how to use the COP stage as a chance for the Prime Minister to pitch the UK’s ambitions, investments and capabilities around energy transition, spotlighted on page 14.

It is our hope that the 40 case studies in this report, and the remarkable results they highlight, combined with the 78 stories from previous years’ research, form a unique and powerful best practise book of evidence that will help industry and government to further enhance their resilience in future crises and inspire leaders to explore different and lucrative growth strategies. If your business is on its own Survive and Thrive journey, please do contact the EIC to find out how we can support you.

Key findings This year we revisit the same eight growth strategies identified in previous years and plot those that have risen and fallen in popularity (see the comparison table on page 11). The research revealed three further areas that business leaders have found to be key to growth, and hence are included this year for the first time, namely transformation, culture and energy transition.

The strategies more commonly employed by the 40 companies were: diversification, this year being the most popular strategy at 49%, followed by: service & solutions (44%), innovation (41%), collaboration (39%), optimisation (39%), culture (33%) and technology (28%). Other strategies were less well adopted: digital surprisingly was down (26%), transformation (28%) and energy transition (18%) were low, and export once again was the least used growth strategy at 15%.

The strategies put in place in this edition of Survive and Thrive have generated a massive £2.4bn, up on the £1.8bn in savings and new orders in 2019. These figures are impressive, but remember they only represent the specific benefits derived from these businesses and their specific success stories, so imagine the value to the UK economy if these successes were scaled up to cover all 3,500+ energy supply chain businesses (defined as having >£1m revenues, source EICSupplyMap) across the UK. The interviews for this research were largely carried out during COVID-19 lockdown, and although most of the research focuses on growth strategies employed by businesses before COVID-19 struck, the research does highlight several key post- COVID-19 lessons for industry, which are important and put under a spotlight on page 16.

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1.Export – still the hardest growth strategy Once again, setting up new export markets is the least used growth strategy, at 15%. Given the excellent reputation that the UK energy supply chain enjoys worldwide, especially in oil & gas, and the phenomenal results an export strategy can produce, reflected by the fact that businesses interviewed typically have 61% of their legacy revenues from established export markets, it is very disappointing that still they regard the establishment of new export markets as so unattractive.

Survive and Thrive IV finds that the development of new export markets, is too often not considered by business leaders as their go-to business growth strategy due its perceived risk, and it requiring a lot of upfront costs and planning with returns typically taking three years to materialise.

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While awareness of the support that is available for exporters from DIT, SDI, and EIC, albeit not as much as we would hope, has risen, there is still a lack of understanding of where the best markets for energy exports around the world are, how to do business abroad and how to choose the right local partner. Exporting is still seen by far too many business heads as a relatively risky strategy compared to other growth options, with too many barriers and not enough support to make it worth the potential reward.

In terms of government’s role, UK Export Finance is still regarded as vital, but overly bureaucratic and complicated to be suitable for most SMEs to utilise. Only 5 of the 40 businesses interviewed considered UKEF support.

2. Diversification – de-risking and building resilience The first three years of Survive & Thrive research showed innovation to be the most popular growth strategy, so it is surprising but good news to see that this year diversification, specifically de-risking their revenue sources, relying less on oil & gas, as their most used growth strategy. Although 90% of companies interviewed were active still in oil & gas, 26% have already diversified into renewables, but interestingly more diversification (72%) is seen into non- energy sectors such as infrastructure, industrial and pharmaceuticals. What is driving this?

The 2014 oil price crash still haunts business leaders, for two main reasons – firstly businesses across the sector and of all sizes were too reliant on one sub-sector of energy five years ago, and mainly upstream oil & gas, and hence were hugely exposed when the oil price dropped and stayed lower for longer. Secondly, businesses reacted far too slowly at the time, sometimes taking two years to really address their

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Survive and Thrive Volume IV strategies at a glance Collaboration Working with partners to bring your strategy to life Digital The application of digital and data systems, analytics and technology to innovate

Service & solutions The focus on adding value to customers in their OPEX and O&M value chain, and the specific broadening of scope of work to provide a one-stop-shop or customer-centric approach

Diversification Expanding existing capabilities into other sectors, such as from oil and gas to offshore wind

Technology Refers to the specific development and use of technology to solve clients’ problems

Export The development of new business by focusing on international growth in new countries/ regions

Three new categories this year: Transformation Company-wide step change actions, taken as part of a strategic approach to re-position

Innovation Enhanced products, services and strategies to meet specific client needs and build differentiation

Culture Where business success is largely due to the beliefs and behaviours that determine how employees and management interact internally and with stakeholders

Optimisation The focus on improving internal decision making, costs, processes, agility, structures and enhancing competitiveness

own resistance to accept the need to change permanently. The high oil price of 2012-14 had made parts of the global oil industry fat and arrogant.

Roll forward five years, and the businesses that survived the subsequent cost reductions and job losses are now far smarter and leaner and have learnt to stay lean even when business improves. Most of the businesses interviewed expected 2020 to be a good year, even with

Energy Transition The next wave of technologies, beyond wind and solar, that will deliver the 2050 net zero carbon goals of the UK

OPEC arguments and US/China trade tensions, but COVID-19 and the drastic drop in demand, accompanied by another oil price crash, have spoiled those plans.

The good news though is that the more resilient UK energy supply chain is better prepared than in previous crises and has significantly de-risked by diversifying to have multiple revenue lines, not just one or two, and is reacting to this crisis in weeks, not years.

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3. Energy Transition – everyone’s talking about it but no one’s doing it Even though the hyper-topic of energy transition is expected to create many diversification opportunities for the supply chain in future years, it’s quite clear business leaders are still in the stage of learning the language of energy transition, and the vast majority are not yet able to convert this growing interest into contracts and wins. Most business leaders interviewed expressed eagerness to invest in the technology and skills needed to diversify into technologies like hydrogen, CCUS and floating offshore wind, to keep up with the increasingly fast paced rate of market change.

What is the delay and what role can government play? Now more than ever it’s vital government define a policy around energy transition and the role key technologies can play and engages with industry before making energy transition commitments that will be difficult to achieve in the future, if the UK is to develop as a market leader in new technologies such as CCUS and hydrogen.

Once the policy is agreed and funding and legislation are in place, then government will need to provide a large and consistent pipeline of projects to feed the appetite of the supply chain.

Finally, government will need to pick winners, technologies that will not only enable the UK to meet its 2050 net zero carbon goals, but will also create a globally competitive technology and manufacturing base that will position the UK in the top tier of energy transition exporters for decades to come.

4. Digital – nice to have, not must have Energy transition and COVID-19

are the hyper-topics of 2020, but in 2017-18 it was digital. It was widely accepted that the energy industry was too conservative and risk-averse, being years behind other industries that had embraced digital, or had been disruptively forced to accept digital. Operators, developers and the supply chain were all searching for the next game-changing strategy or technology that would transform margins and growth rates. Was digital the answer?

Since then, the industry has invested billions, appointed countless Chief Digital Officers, and tried really hard to adopt data and digital strategies across its greenfield and brownfield operations. Has it worked?

The short answer is no, or at least not in a transformative or disruptive way.

This year’s results reflect this, with a dip in take up of digital as the preferred growth strategy, after it grew strongly in previous years. The feedback from industry is that digital is seen as nice to have by customers, not must have.

Customers feel they already have a non-digital solution that works, so why do they need to risk an unproven digital solution, and why should they pay for it.

Undoubtedly there are huge benefits to digital, in areas such as efficiency, safety, manpower, cost, time, inspection, decision-making and analysis, but financiers find it hard to see the business case, so it is left to enlightened asset managers to make their own decision to employ digital solutions. Too often though, these successful implementations stay at the local asset level, rarely being scaled up across the whole operation.

Even after three years of hard work, with many localised examples of successful data and digital technology being applied, it is still seen as low margin, hard to scale up, and a hard sell to customers.

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5. COVID culture – stop waiting start adapting It is worth talking to doctors about their view of life after COVID-19. According to health professionals, we already have the information we need to plan for the future – the virus is dangerous and highly contagious and will remain so for the foreseeable future. We have learnt that lockdowns work, but at great economic cost. Therefore, why are we waiting for the old ways to return? We need to find a way now to run our businesses after lockdown, and even during lockdown, safely and profitably.

These interviews were largely carried out during lockdown, and many businesses talked about their high levels of backlog which gave them time, but also talked about their uncertainty of what was to come.

Doctors say we need to adapt to the new normal, in our personal lives, and why isn’t this also good advice for our business lives? The answer? Stop waiting, start adapting, take the lead and innovate your way out of this new crisis.

The advice is to never waste a good crisis, and COVID-19 does provide a unique chance for digital to raise its game, as CEOs of oil and power companies are considering how to operate their plants and platforms safely and efficiently in these new normal times. Now more than ever, the benefits uniquely offered by digital really do apply, such as modelling using digital twins, mapping work patterns for social distancing, emergency response for infection control, de-manning of facilities, and remote control and inspection. Digital then, thanks to COVID-19, has moved from nice to have to must have. What a chance for digital entrepreneurs to innovate and show us the way to the new normal.

Vol I-IV

6. Government support – improved take up every year Year on year we see more companies seeking government support, in one form or another, which is to the credit of government agencies and policies, reaching 87% of businesses this time round. Most successful is the R&D tax credit scheme with 80%, which speaks to the highly innovative nature of companies across the UK in the energy sector. This is followed by the apprenticeship levy at 51%, and then local grants (36%) and attending overseas delegations (31%).

What will be disappointing for the Department for International Trade is that the least used service is UK Export Finance, at just 10%.

Feedback about UKEF is largely unchanged over the four years of the Survive & Thrive study; that the application process is restrictive and complicated, and the promotion of UKEF services are inadequate and full of finance speak that is poorly understood by most SMEs, putting them off before they’ve even started.

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3M A&P Group Advanced Insulation Aker Solutions Alderley AqualisBraemar Aquaterra Energy Aubin Balfour Beatty BMT Brainnwave CalGavin Crondall Energy Crowcon DNV GL GWEC Offshore Hi-Force Indra * Inverroy KBR McMenon Engineering Services OGM Osbit Oxford Flow

96,000 650 320 12,000 370 423 113 34 26,000 1,400 12 35 42 245 12,000 260 250 55 5 34,000 70 50 110 30

Quanta

100

rhi Risktec Solutions

llio s

Sa vin ne gs a w ord nd ers (m i

Employees

Re ve fro nues m ex po rt

Company

Re ve (m nues illio n)

E

Overview of companies and strategies

n)

Overview

SM

8

X X X X

£25,400 £120 £41 £1,579 £76 £58 £21.5 £9.6 £8,400 £180 £1 £3.5 £6.9 £41.5 £1,500 £3.1 £35 £11.5 £0.5 £4,410 £7 £2.5 £18.5 £0.3

70% 0% 70% 75% 90% 90% 72% 70% 60% 95% 0% 90% 56% 60% 25% 70% 80% 20% 70% 80% 85% 85% 70% 80%

X

£15

10%

£11

125

£45

50%

£7.9

300

£37

32%

Roxtec

750

£173

95%

£1

Serimax (NEU)

280

£42

30%

£26

SPP Pumps

305

£52

70%

STATS Group

245

X

£39.5

80%

£20

Tube Tech International

32

X

£7.5

72%

£5.5

Turner & Townsend

X X

X X X X

X X X

6,105

£640

70%

TÜV SÜD EnergieTechnik

450

£80.3

25%

TÜV SÜD National Engineering Laboratory

91

£11

30%

Valor

31

£4

30%

VWS Westgarth

150

£50

90%

X

£40.7 £8 £85.5

£41.7 £1.6 £1,000 £1,000 £0.3

£1 £1.6 £10 £0.3

£2.2 £22.3 £36

£3.5

£6.4

Waves

38

X

£4.5

60%

Whittaker Engineering

170

X

£19

20%

£9

£7,910

85%

£23.7

£51,042

61%

£2,365.1

Wood Total

45,000 238,591

18

46%

* Indra is an Italy-based business and is not included in the statistics, to keep % analysis UK-centric † SME categorisation excludes companies that are subsidiaries of larger groups Get in touch! Share your news and views...

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80%

N/D

N/D

20% 15% 30% 2% 17%

90%

18% 17% 5%

X X X X X

X

100% 10%

X

X

N/D 86% 30%

X X X

22%

X X X X X

8%

13%

Ot he r

UK

X

X X

X X

X X

X

X X

X

X

X

2%

22%

X

X

X

79%

X

2%

X

X

X

50%

50%

X

X

X

X

X

100% 90%

10%

10%

X

X

X X

X

X

90% 95%

5%

50% 10%

50%

X

5%

X

100%

X 40%

95% 60%

EF

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X X X X X X

98%

7.5%

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54%

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49% 60% 40% 50%

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38%

40% 10%

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X X X X X

15% 21%

Go

(no n-e ne rg

13%

X X X X X X X X

R&

80% 100% 100% 49% 100% 100% N/D 14% 70% 85% 100% 30% 20% 60% 35% 70% 80% 66% 95% 100% 60%

97.50% 80% 20%

Tra d

20%

Ot he rs

1.25%

Re ne wa b le s

1.25%

y)

na l/n uc lea rp Co

nv en t io

Oil an dg

as

ow

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9

25%

X

X

X

X

X

X

X

X

X

52.5%

X

X

X

5%

X

X

X

X

X

15%

X 34

X 20

14

X 12

X 31

87.2%

51.3%

35.9%

30.8%

79.5%

X

X 4

10.3%

4

10.3%

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X X

X

X X X

X X X

X X

X

X X

X

X

lut Te ion ch s no log y Cu lt u re En erg yt ran si t Tra ion ns for ma t io n

mi

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X X

X X X X

X

X

X

X

X

X

X

X X

X

X

X

X

X X X

X X X

X X X

X X

Serimax (NEU)

X

SPP Pumps

X

STATS Group

X

Tube Tech International

X X X

X X

X

VWS Westgarth

X

Waves

X

X X

X

X X

X

X

X

X

X

X

X

X

Roxtec

Turner & Townsend

X X

X X X

X

TÜV SÜD National Engineering Laboratory

X

X

X X

X

X X X

X

rhi

X X X X

X X X

X

Risktec Solutions

X X

X

X

X

X

X

X

X X

X

X

X

X

X

X

X

X

X

Whittaker Engineering

X X

X

X

X

17

11

X X

X

X

X

X

Wood Total

X X X

X

X X

X

Valor

sa t it o

n

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X X X

X X

Quanta

TÜV SÜD EnergieTechnik

Se rvi

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X X X

X

Inn ov

X

Ex po

3M A&P Group Advanced Insulation Aker Solutions Alderley AqualisBraemar Aquaterra Energy Aubin Balfour Beatty BMT Brainnwave CalGavin Crondall Energy Crowcon DNV GL GWEC Offshore Hi-Force Indra * Inverroy KBR McMenon Engineering Services OGM Osbit Oxford Flow

Div

Company

Dig

llab

ora t io

fic ati o

n

n

Overview

Co

10

15

38.5%

10

25.6%

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X 19

48.7%

6

15.4%

16

41.0%

15

38.5%

43.6%

28.2%

13

33.3%

X 7

17.9%

11

28.2%

11

Comparison table 2017 Number of success stories

£

Per year savings and new orders

Companies using innovation (including digital and technology)

Diversification

£550m £357m £1.8bn £2.4bn

Export * categories not previously measured

100%

100%

27% 38% 36% 49% *

42% 60% 44%

23% 27% 48% 39%

Companies using collaboration as an enabler Transformation for other strategies

Energy transition

100%

73% 69% 64% 54%

Culture

Digital

100%

27% 69% 68% 87%

Service and solutions

Optimisation

2020

26 26 26 40

Companies using collaboration as an enabler for other strategies Companies receiving government support

2019

2018

*

*

*

33%

*

*

*

28%

* * 8%

19% 32% 26% *

*

18%

19% 12% 15%

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Key statistics

Key statistics 49% of companies used diversification as a growth strategy

18%

40 the number of companies which took part in EIC Survive and Thrive Volume IV

of business leaders embraced the energy transition

15% of companies used export as a growth strategy

54% of companies used innovation – including technology and digital

39% of companies optimised

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13

87%

44%

Of companies received government support

Of companies used service and solutions

90% Of companies operating in oil and gas

26%

72%

Of companies operating in renewables

Of companies with non-energy interest

46% Of companies surveyed are SMEs

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COP26

COP26

2050

2020

COP26 COUNTDOWN With time running out what does industry want Government to pitch at COP26

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INNOVATIVE SUPPLY CHAIN

The UK has a global reputation for quality, with an energy supply chain that has a proven track record in innovation and technology.

British companies have called for the government to commit to its climate pledges despite COVID-19 and invest in UK capability and local content to kick-start an energy transition revolution.

With the right support, SMEs can innovate and scale up to transition fast to a new energy landscape.

ENERGY TRANSITION ROADMAP

With the energy sector at a major crossroads, the role of government has never been as important.

Businesses large and small are calling for a realistic roadmap that brings industry and government together to plan, invest in and implement the UK’s energy future.

That requires the UK to act fast to kickstart a transition that requires consistent policy and funding, with COP26 the perfect platform to pitch British ambition and expertise as a leader to the world.

Carbon pricing must be considered, both on bad behaviours and imports, while Brexit provides an opportunity to bolster UK content. UKEF could play a key role if given the support in a future wave of clean energy exports.

UK COMPETITIVENESS

For the energy transition to be taken seriously, adopted widely and to become the new normal, it must be economically viable.

Currently, the financial model of many energy transition technologies – many of which are still in their infancy – is not clear.

UK competitiveness in a fiercely competitive global environment will require tax advantages, a circular economy, and a global agreement on competition.

INTEGRATED ENERGY POLICY

An integrated energy policy, embracing all energy technologies including nuclear, is a fundamental step the government should take to ensure the success of COP26.

There will undoubtedly still be a need for oil and gas in the UK’s future, and this unique capability should be protected rather than abandoned to ensure the UK’s supply chain fully transitions to the new technologies of hydrogen, CCUS and floating offshore wind.

Learning from past mistakes, including in offshore wind, will be key to ensure energy transitionleads to future export success.

TIMING IS EVERYTHING

Global climate protests. Investor pressures. Increasing oil price volatility. All are clear indicators of a need to change the way we operate and be a part of the solution and not the problem.

While COVID-19 has presented vast challenges and difficulties for the energy sector, it has also provided a unique opportunity to enable permanent change in business for the better.

The UK needs an energy transition roadmap to ensure it meets its 2050 net zero carbon commitments.

COP26 is the perfect platform for the UK to pitch its global ambition for decarbonisation, sustainability and associated technologies.

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COVID-19 culture

COVID-19 culture LEADERSHIP

With most medical experts agreeing that the virus isn’t going away any time soon, it’s time for leaders to acknowledge that the old normal is gone and it’s time to write your new normal.

DIGITAL

COVID-19 has made digital in business a ‘must-have’ from a ‘nice-to-have’.

Innovation is needed to adopt digital solutions that allow for social distancing, remote functions and much more.

OVERSEAS TRAVEL

The unprecedented grounding of flights around the world has taught us that international travel is rarely needed. Save emissions, money and time by instead recruiting local agents or staff to represent you permanently.

HOW TO WIN NEW CLIENTS?

Understanding COVID sentiment in new countries is as important as understanding local culture, language and religion. Don’t take the risk of meeting face-to-face if you don’t know the local COVID culture.

EXTERNAL EVENTS

Events will look drastically different. Limit numbers, enable one-way routes, embrace hybrid models with virtual and safe physical components, and above all prove to potential attendees that it is safe to attend.

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Stop start to the new

17

NURTURE NETWORKING TIME Lockdown has taught us that most business communication can be done remotely. Restrict face-to-face meetings to building trust with new clients and important social networks.

SUPPLY CHAIN SELECTION SupplyMap

WAITING ADAPTING COVID CULTURE

Use data and digital services such as EICSupplyMap to help you to choose your suppliers more accurately, and narrow your supply chain to the most trusted and critical.

ROLE OF GOVERNMENT

Government support has never been so crucial. Take advantage of the support available by seeking working capital and trade support and lobbying for funding for long pipelines of major capital projects, and to use COP26 to pitch UK ambition.

WORKING FROM HOME

For most office-based businesses, there has been a perspective shift in the effectiveness of working from home.

Where possible, close excess office space and redirect costs, while providing safe meeting and networking spaces.

EXTERNAL MEETINGS

Design or find safe and neutral meeting places like a local coffee shop, and avoid meeting clients in their or your offices unless it’s COVID compliant. Above all, assume a conservative and careful approach and abide by national guidelines.

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18

Key lessons: government

Key lessons: government Export

Energy transition

Lessons

Lessons

– Developing new export markets is still the hardest growth strategy

– Industry is not investing in energy transition, which is currently seen as a conceptual market of the future

– Many companies are still unaware of UK Export Finance (UKEF) or find it too bureaucratic – Actions are needed by government to enable the supply chain to thrive in an increasingly competitive domestic and global market

– Engage with industry before making energy transition commitments that may not match UK capability – It’s critical to define a policy around energy transition and the role key technologies can play

– The government should back clusters to boost British exports and support levelling up

– It’s vital the UK maintains its position as a market leader in the development of new technologies

Actions

– Fossil fuels still have a role despite the fast pace of energy transition

– More DIT support is needed for UK exporters post Brexit, especially SMEs – UK Export Finance must be more agile, less bureaucratic and simplify their messaging and user experience – Projects supported by UKEF export credit agency (ECA) funding should have more visibility to demonstrate which UK businesses are seeing benefit and how the minimum UK content obligations are being achieved – Government needs to encourage UK local content to develop new and existing technologies and future exports

– A realistic view by government of what is achievable regarding the energy transition is needed.

Actions – Work with industry to develop an energy transition roadmap, ready to pitch at COP26, that unites the entire UK energy spectrum – Maintain the GREAT campaign to reinforce the UK leadership in new technologies – Have a consistent pipeline of projects supported by government funding mechanisms – Pick energy transition technologies to invest in that the UK can be globally competitive in, to maximize future UK exports – Do not rush to ban fossil fuels, for fear of prematurely losing key skills that will be needed for energy transition

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19

Transformation

Technology and innovation

Lessons

Lessons

– Most companies are not scaling up..

Success in one part of a business is too often offset by problems elsewhere.

– Fast-growing investments in energy transition technologies by other nations risk diluting the UK’s hoped-for leading position

– Digital is not providing transformation to the energy industry as hoped Actions – Without government funding, many companies will not develop scale-up leadership skills. Learn from the failure of Fit4Energy – a collaborative and welldesigned programme for energy market SME scale up training, which failed as it came at a cost and time commitment that companies were unwilling to pay – Provide a framework for SME community to scale-up, such as local content obligations and cluster-derived energy transition opportunities – COVID-19 response by energy asset owners should be mandated by regulators to include safe working practises and emergency response plans that adopt suitable digital technologies

– Many companies do not consider universities as a viable option in providing opportunities to develop new innovative products and enter new markets.

Actions – Avoid austerity measures, instead launch large energy and infrastructure projects in the UK to kickstart growth and ensure the re-employment of key skilled workers – The supply chain needs government support to tackle obstacles to skills, innovation and technology development.

– Maintain the GREAT campaign to reinforce and promote UK leadership in new technologies globally – Government should invest in selected technologies of which the UK can be global market leaders, especially re energy transition – Companies should be encouraged to collaborate with universities to gain access to additional technology potential and funding, also benefitting levelling up and cluster formation.

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Key lessons: industry

Key lessons: business leaders Export

Diversification

Lessons

Lessons

– Building and maintaining good relationships combined with an understanding of how your target country works are essential when exporting.

– Diversification as a growth strategy, although popular, can still be viewed as difficult and lengthy by some business leaders

– Companies often do not allow time to prequalify with national energy companies and satisfy local content requirements, leading to high investments but ultimately low levels of success

– Although many companies diversify some are still over-reliant on oil and gas

– Selecting the right local partner is hard to do and yet critical to success – Most companies do not seek export finance support, either because they do not know about it, do not qualify, or because they find it too challenging Actions – Exporting requires commitment and preparation. Obtain knowledge about markets, customers and culture, using available government and EIC support – Use downtime created by lockdown to do your research, target key markets and carry out long-lead actions ahead of potential tenders – Clients may now be cautious about meeting strangers from overseas, so find other ways to build trusting relationships such as employing local agents.

– Invest in due diligence and make full use of organisations like the EIC, the Department for International Trade and Scottish Development International to gain the right contacts

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– Companies may lose out on business opportunities such as in the nuclear or energy transition space due to lack of compliance Actions – Companies should be agile and think outside the box to see how their offering can apply to diverse sectors. Think like a start-up and you will be more likely to diversify – De-risk your business by not relying on just one sector – Diversify aggressively to be more resilient – Consider diversifying beyond energy into non-energy markets to maximise derisking potential”

21

Energy transition

Digital

Lessons

Lessons

– Energy transition creates some diversification opportunities for the supply chain, including SMEs, but on a small scale so far

– Digital has not (yet) transformed the energy industry as was hoped, and as has been witnessed in other sectors. The industry remains overly conservative and risk-averse

– Business leaders within the energy sector are not fully embracing the energy transition, but they are keen to learn the language of the new technologies such as hydrogen and CCUS. – US oil company CEOs don’t think energy transition will happen “on their watch”, implying that energy transition is prevalent in Western Europe, but not yet globally Actions – To learn the language of energy transition, participate in UK-level market campaigns that align all stakeholders with the COP26 objectives.

– Be careful not to overcommit on energy transition investments and budget commitments when the pipeline of major project opportunities is still so small.

– Be careful to not assume energy transition is running at the same pace in all international markets – Be proactive with developing your company’s own net zero carbon plan to be ready for when your clients and staff demand it of you

– Many businesses, asset owners and suppliers alike, have invested significantly in infrastructure and resource to embrace the potential of digital and data, but few have seen a measurable return on that investment – Where digital innovation has been adopted, it has normally been at a local site or department level, and decisionmakers normally struggle to achieve company-wide scale up of those project successes – Digital is seen as a low-margin and high-barrier solution by supply chain businesses trying to sell to energy clients Actions – Adopt a fail-fast methodology when exploring investments in digital and data innovation, to minimise losses if they fail to gain traction or scale up – COVID-19 response provides an opportunity for companies to at last convince clients that digital and data technology is no longer a nice-to-have, but instead is a safety case must-have solution

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22

Covid-19

Optimisation

Lessons

Lessons

– Many business leaders are waiting for the pandemic to end rather than adapting their business models

– In a downturn, businesses typically invest more in business development and R&D, not less

– Meeting new clients is one of the hardest issues for companies as they adapt to Covid-19

– Businesses with one-team and innovative cultures seem to recover faster in tough markets

– It takes years to build trust and COVID culture provides a new way to destroy that trust in days, by reaching for a handshake

– Scaling-up while remaining flexible and asset-light is a challenge for many companies

Actions – Plan now for new business processes and strategies that are safe and accept that COVID will remain for the long term.

Stop waiting, start adapting

– In a downturn, blunt cost-cutting can impact your core capabilities and functions, resulting in slower business recovery Actions

– Reinvent strategies to incorporate digital platforms and social networks and invest in virtual events like the Energy Exports Conference

– Learn from the current and previous crisis. De-risk your business by operating in a diversified range of markets ensuring a wide range of revenue streams

– A business culture of openness and integrity is now more important than ever. Proactively redesign safe working practices and meeting spaces internally and externally to reassure your staff and stakeholders

– Outsourcing and partnering are smart ways to free up your cash to fund growth and remain asset-light

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– Protect your key assets, especially your employees and intellectual property, by continuing to invest in business development, your people and technology

23

EIC Survive and Thrive success stories 2020

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Success stories

3M Science Applied to Life

How is 3M thriving?

3M’s Advanced Materials Division has a unique approach to innovation and customer collaboration and is able to transfer technologies across diverse industries and applications, from applying friction technology used in Formula 1 cars to increase torque in wind turbines, to applying ballistic ceramic technology for sand control screens in oil and gas projects.

The challenge The oil and gas industry has a conservative approach to innovation.

New technology can take up to a decade to become adopted in O&G markets, whereas sectors such as aerospace, automotive and defence tend to adopt new solutions much quicker.. Collaboration among the energy supply chain is not always optimum, which leads to missed opportunities to innovate and create solutions to meet industry challenges.

The solution Since its early days in Minnesota,

3M has been working to develop new technologies to solve industry challenges. A materials science company at heart, 3M uses its expert know-how and broad technology base to work with customers’ to innovate and develop disruptive technology to solve problems and give clients a competitive advantage.

3M’s secret weapon to achieve this is found in the company’s extensive workforce. More than 10,000 engineers innovate and collaborate in a virtual technical forum which is dedicated to solve a wide range of technical challenges, without aligning to specific business segments. The company’s 15% rule – a 50-year internal practice also allows engineers the ability to use 15% of their time on ‘pet’ projects – a valuable tool for boosting the introduction of innovative solutions for example the famed ‘postit’ notes.

In the energy market, 3M has spent the last few years focusing on solving technical challenges amid difficult market conditions. Balancing work between CAPEX and OPEX, the company has

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been instrumental in offering innovation to the oil and gas and renewables sectors through its Advanced Materials Division, which has been the company’s fastest-growing business in the UK during the last three years.

In the oil and gas sector, 3M disrupted the upstream downhole sand control market by developing an improved sand control system using silicon carbide ceramics material instead of a traditional metallic sand screen.

Working with a number of National and International Oil Companies, 3M’s Ceramic Sand Screens are used in a wells which had been compromised due to sand ingress. 3M’s Ceramic Sand Screens can withstand very high erosion rates and extend the life of impacted wells.

In the renewables market, 3M transferred technology used in Formula 1 motor racing to the wind segment.

The company has developed a friction shim which, when placed between joints on wind turbines, increases friction coefficients without adding bolts or increasing component sizes.

This solution currently being tested

Success stories

by various OEMs, has unlocked potential for light-weight nacelles and towers, while reducing transport and installation costs.

3M has an open door to working with the energy industry to drive innovation success. The company sits down with customers with a view to understand their problems and environments up front, aligning solutions and ideas to tackle their issues and make them more efficient. This collaborative approach is not limited to clients but extends to any supply chain player facing technical or materials problems they can’t solve – they only need to ask. In the end, 3M’s culture is more than just innovation, it’s innovation that helps businesses and people.

A major industry player that has been listed as the World’s Most Ethical

Company for three years in a row, 3M is a science-based technology company that is committed to improving lives and doing business in the right way. Active in several countries with over 90,000 employees and 200 manufacturing plants, 3M is split into four main business groups: consumer products, healthcare, safety and industrial and transportation and electronics. These divisions offer a wide range of well-known products, from post-it notes to personal protective equipment (PPE) and beyond. The company’s Advanced Materials Division, meanwhile, is involved with nanomaterials, technical ceramics and polymers, among other products.

Story type

Key findings

#innovation (main category)

For industry

#technology #collaboration

• Drive a culture of innovation and share results with the rest of the industry • Allow time for technical employees to grow and collaborate in a way that drives innovation • SMEs should use routes such as Catapult or InnovateUK to get started • Adopt a collaborative approach with clients

About 3M

Benefits • Collaborative approach yielding benefits for the whole supply chain • Development of cutting-edge technologies that tackle industry issues

Energy transition lessons • The supply chain has a role to play in solving energy transition issues and making technology more financially viable

3M at a glance: Key products and services: multinational manufacturing conglomerate active in various industry segments Main industries served:

For government • Engage with supply chain to tackle technology and innovation issues

Government support?

3M’s UK subsidiary benefits from Apprenticeship Levy.

• Oil & Gas, Aerospace, Automotive, Renewables, Construction Headquarters: Maplewood, USA Year established: 1902 Number of employees: 96,000 (2,000 in the UK) Revenue: US$32.2bn Revenue from exports: 70%

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Success stories

A&P Group Leveraging core capabilities to diversify How is A&P Group thriving?

The UK’s largest commercial ship repair business, A&P is continuing its diversification strategy after the 2014 downturn in the oil and gas market, focusing on Renewable Energy sectors such as offshore wind and Nuclear new build.

The challenge A&P’s objectives remain unchanged since their story in the previous Survive and Thrive report: To diversify into new markets whilst maintaining its core marine business. The company has one of the largest Fabrication and Machining facilities in the UK, but it is still a best-kept secret beyond the marine industry. How can the company’s great facilities, secure sites, massive fabrication and machining service capabilities be applied in other segments?

The solution A&P has reinforced its strategy to de-risk and diversify, particularly into the nuclear and renewables sectors. Benefiting of one-stop-shop capabilities at all its sites, the company is working to collaborate with clients beyond the marine industry and create new relationships. This process has also involved a change of culture: A&P Group has deployed a programme of transformation to achieve the quality compliance required by industries beyond shipbuilding, possessing well-structured systems and demarcation zones.

In the nuclear sector, A&P Falmouth has successfully obtained the Fit For Nuclear (F4N) status by the Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) in November 2019. A&P Falmouth operates one of

the most comprehensive machining facilities in the UK and is a renowned centre of engineering excellence. Over the last two years, A&P Falmouth has undergone a series of rigorous and challenging quality and cultural assessments, invested heavily in staff training and infrastructure and embedded nuclear safety culture into every aspect of its operations. By being granted Fit 4 Nuclear status, A&P Falmouth is now able to demonstrate its intent in supporting The Hinkley Point C (HPC) nuclear power project with MEH Fabricated and machined Packages to the highest quality levels.

A&P Falmouth complies with the most exacting standards of quality and HSE and is able to support tier one and two contractors with in-house design, engineering and fabrication expertise as well as a large on-site machine shop, which can produce large turbine shafts, bearing shafts and turn-buckles to Quality Grade 1 specifications.

The facility has a track record of supporting the nuclear community – projects include a six-week overhaul of two steam turbines for Ansaldo Energia as part of its service agreement for

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power station outage activities with Centrica at Langage Power Station in Plymouth. The Hinkley Point supply chain are also benefitting from A&P Falmouth’s port facilities to store and assemble key equipment for Hinkley Point. Recent projects include the leasing of A&P Falmouth land to aid the assembly of a new gantry system, which will be used to transport aggregate supplies to the shore and over an existing pier at the new Hinkley Point Power Station.

A&P Group’s momentum is not limited to the nuclear sector. In 2020, A&P continues to make strides in supporting the offshore wind sector.

A&P’s three facilities in Tyne, Tees and Falmouth provide marine services to the offshore sector and has the expertise to deliver complex, technically-challenging projects and services including vessel mobilisation & demobilisation, major ship conversions and ship repair, module fabrication and subsea structure fabrication.

A&P Tyne is perfectly located to offers extensive fabrication services to the offshore wind farms off the east coast

Success stories

of England. A&P’s site in Falmouth is superbly located to support renewable activity off the south west coast of England. The combination of A&P Group’s extensive skills, port facilities, fabrication and engineering capabilities and marine service facilities make A&P an ideal partner for developers and contractors in the offshore market. A&P is working with key stakeholders such as Energi Coast to further the ambitions of the industry and support the Offshore Wind Sector Deal and similar to the F4N accreditation, the company is keen on obtaining the Fit For Offshore Renewable (F4OR) credential.

production line, providing gains with regard project schedule and repeatability.

A&P has established its credentials beyond the marine market. The company has developed a reputation of being more than a shipyard - , having obtained F4N approval and getting ready for F4OR accreditation. A&P is receiving enquiries and securing new clients, leveraging its repair and fabrication capabilities into new sectors.

and gas, offshore wind, nuclear and defence.

A&P is experiencing success across the market. A&P Tyne has recently delivered a contract with Farrans for the design and fabrication of six 263-tonne pontoons for the Galloper wind farm’s operations and maintenance base at the Harwich International Port in Essex. The company used a marine fabrication

A&P is the UK’s largest ship repair, conversion and marine specialist, with a history of quality-driven engineering and marine excellence spanning six decades. Operating seven dry docks at THREE key locations in the country (Falmouth, Tees and Tyne), the company provides repair, fabrication and general engineering support services to the commercial marine, oil

In the fabrication segment, A&P GROUP’S expertise spans subsea and floating structures, topsides, foundation structures, pressure vessels, substations and wave and tidal devices. The company also has significant expertise in the fabrication, pre-commissioning and direct load-out of modularised offshore structures. Using in-house capabilities and a strategic local supply chain, A&P Group are proud to be able to provide a complete integrated supply package across a range of engineering skills from structural, piping and mechanical, through to electrical and instrumentation work.

Story type

Key findings

A&P at a glance:

#diversification (main category) #culture, #optimisation, #transformation

For industry

Key products and services: Ship repair and fabrication services

Benefits • Diversification strategy yielding contract awards in renewables and power segments

About A&P Group

• Be determined and stay on course • If you are not compliant and ready to work in an industry sector, you won’t succeed • Without the right culture and attitude, you will fail • Know your market and your customer For government • It’s critical to define an energy policy, including the role of nuclear power

Main industries served: • Defence – 40% • Commercial marine – 30% • Renewables – 20% • Civil engineering and infrastructure – 10% Headquarters: Hebburn, UK Year established: 1953 Number of employees: 650 Revenue: £120m Revenue from exports: 0%

Government support?

A&P has benefited from the Apprenticeship Levy as well as R&D tax credits. The company has also undergone Fit4Nuclear training and approval.

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Success stories

Advanced Insulation Staying profitable in oil downturns

How is Advanced Insulation thriving?

The company made three smart decisions following the 2014 crisis in the oil and gas sector: diversify beyond deep-water oil and gas into new segments; reduce direct costs while protecting margins and innovative culture; and keep investing in sales and R&D throughout the process.

The challenge The 2014 downturn in the oil and gas market had a negative impact for the whole industry, but Advanced Insulation was particularly affected.

Approximately 72% of the company’s revenues derived from deep-water oil and gas projects, which were the first to be shelved during the crisis. Meanwhile, competition grew stronger and ‘saving costs’ became the industry’s new motto. Advanced Insulation’s revenues and profits were falling and margins were under constant pressure.

The solution Advanced Insulation had to address two key issues: over-reliance on deep-water O&G projects and massive margin pressures. Diversification was the answer to the first challenge.

Benefiting of an easily adaptable product portfolio, the company targeted sectors beyond upstream O&G, including downstream, onshore E&P, renewables and LNG. Indeed, even the automotive sector presented an opportunity – Advanced Insulation also got involved in fire protection for electric vehicles. As a result, upstream O&G revenues fell from 72% in 2016 to 50% in 2020.

Regarding margin pressures, Advanced

Insulation knew it had to drive down costs quickly if it wanted to maintain its market share. The company reduced direct costs by 15% over two years – a bold move considering that the company was highly dependent on material costs. This was achieved through product substitutions, innovative ways of working and reduced manpower. Contrary to common sense, however, the company increased its sales force and maintained R&D-related headcount and spend throughout the whole recovery period, as this would be an advantage when the cycle turned for the better. Results were clear: after a 2% drop between 2016-17, margins grew by 6% in 2019.

A key example of Advanced Insulation’s diversification strategy – and a direct result of the decision to grow sales capabilities – is an opportunity to work on the Arctic LNG 2 project in Russia. The project scope included

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the construction of large gravitybased structures featuring LNG and condensate storage. In early 2018, Advanced Insulation started discussions with EPC contractor TechnipFMC to demonstrate how the ContraFlame MS400 and C50 insulation systems would meet project specifications. The two solutions were specified for the project and are now being used in the fabrication of the structures. Two key advantages led TechnipFMC to specify the products: massive weight savings (estimated at 670 tonnes per GBS) that allow easier GPS positioning; and a 40year design life, with low maintenance requirements.

Advanced Insulation’s story is about how to stay profitable during challenging times. The company diversified aggressively and successfully beyond oil and gas into LNG, automotive and renewables, while protecting margins with a

Success stories

targeted cost-reduction focus.

Revenues increased from the £33m low point in 2018 to £41 million in 2019 and the forecast for 2020 is £60 million. Although those were difficult times, the company is proud of the fact that it stayed profitable throughout the whole process. With an innovative business culture, Advanced Insulation continues to protect life, infrastructure and vital assets on land and sea by providing advanced fire protection, insulation, buoyancy and marine products.

systems, buoyancy and SURF products (subsea, umbilicals, risers and flowlines) to the offshore and onshore oil and gas industry. The company has achieved exceptional growth both in the UK and overseas through growing demand, increasing turnover from £3m in 2008 to £33m in 2018. The company has a strong international footprint, with a number of facilities in the UK and further facilities located in Angola, Brazil, Kazakhstan, Korea, United Arab Emirates and the United States.

About Advanced Insulation Advanced Insulation is an established global leader in the engineering, manufacture and application of insulation and passive fire protection

Story type #diversification (main category) #innovation #optimisation #service/solutions #transformation

Benefits • 46% increase in revenues • Successful diversification from subsea insulation into LNG and buoyancy

Key findings

For government • Increased effectiveness is needed for SMEs willing to export • UK Export Finance must be more agile and less bureaucratic • Climate change goals become coherent for the wider industry when a plan to achieve them is presented and discussed

Government support?

In addition to R&D tax credits, the company benefits from the Apprenticeship Levy. Advanced Insulation has used bank guarantees provided by the UK Export Finance.

For industry • There is no silver bullet. You must be determined to achieve your final goal • Objectives must be clear and wellcommunicated • Risk-taking is essential, but so are mitigation plans in case things go wrong

Export lessons • Get a clear product offering that is not already available in target markets • Good relationships and a good understanding of how the country works is essential

Energy transition lessons • Energy transition sectors such as LNG and renewables can provide valuable diversification opportunities

Advanced Insulation at a glance: Key products and services: fire protection, insulation, buoyancy and marine products Main industries served: • Upstream Oil & Gas – 50% • LNG, Downstream/Refineries – 30% • Marine – 10% • Others – 10% Headquarters: Gloucester, UK Year established: 1993 Number of employees: 320 (200 in the UK) Revenue: £41 million Revenue from exports: 70%

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Success stories

Aker Solutions Securing a sustainable future in key export markets

How is Aker Solutions thriving?

The company has achieved rapid start-up success in the UAE market with ADNOC’s Dalma project. Aker Solutions has focused on building trusting and sustainable relationships, while leveraging the technology advantages of its umbilical products.

The challenge In the early 2010s, Aker Solutions realised they were not as global as

they would like to be. Opportunities in the UK and Norway were dwindling and showed no prospects of recovery in the near-term. The Middle East, on the other hand, was seen as an up and coming market with much better growth prospects. The 2014 oil and gas market crisis provided increased impetus for the company to seek new opportunities in the Middle East, but how would they do it?

The solution Establishing a business in the Middle

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East required local knowledge.

Aker Solutions decided to hire Stewart Highett, a seasoned energy professional with a large experience in the region, to spearhead the company’s entry strategy in the Middle East. Stewart had been travelling there since 1999, building key relationships with local industry players.

Upon joining Aker in 2017, Stewart put his strategy in motion. He decided to depart from old sponsors, but in a way that did not upset relevant contacts in the region. In a careful due diligence

Success stories

process, Stewart worked on finding new sponsors for Aker’s business in the Middle East while building brand awareness, taking the time to consult the UK and Norwegian governments, as well as ADNOC, that its strategy was on the right path. Indeed, it was: thanks to Stewart’s network of contacts, Aker secured in 2018 a US$5.5m contract for refurbishment work on the Sagar Samrat project by ONGC. A ground-breaking business opportunity in the Middle East, however, would come with a large ADNOC project in 2019. The NOC was unaware of Aker at the time, but the Norwegian company positioned early with FEED and PMC contractors TechnipFMC and KBR, respectively.

Being registered with ADNOC was a requisite for the company’s technical specification, however, and TechnipFMC was not keen on making an exception for Aker.

Stewart was eventually able to open access to Aker. ADNOC convinced TechnipFMC to allow the company on the list of suppliers, clearing the way for them to join ADNOC tenders. After working with technical evaluation teams and showing areas for improvement, Aker was eventually awarded an US$80m contract for the supply of 105km of subsea umbilicals for the Dalma project – the first ever direct purchase of umbilicals by ADNOC.

Leveraging his network of contacts within ADNOC as well as sponsors,

The latest opportunity with ADNOC enabled Aker to achieve its five-year business plan for the Middle East in Year 1. The company’s technical quality and ability to deliver the equipment on time were key factors behind ADNOC’s decision, combined with Aker’s understanding of ADNOC’s budget and service expectations. The contract award for Dalma – the first of four upcoming projects – was also key to position the company in the local market. Having succeeded in establishing a presence in the Middle East, Aker today looks forward to

Story type

Key findings

#export (main category) #innovation

For industry

future opportunities with ADNOC and other local players, benefiting from its quality, competitive offers and ability to meet challenging schedules.

About Aker Solutions With over 179 years of experience, Aker Solutions helps the world meet its energy needs. The company engineers products, systems, software and services required to unlock energy.

The company’s experience spans shallow to ultra-deep waters and tropical to arctic conditions. From subsea to surface and concept to decommissioning, Aker Solutions’ technical expertise and strong partnerships provide energy companies what they need to succeed.

Aker Solutions has 12,000 employees in about 20 countries around the world – all embracing innovation and collaboration in a drive to create a sustainable future.

Aker Solutions at a glance:

Benefits

• Never underestimate the value of relationships • Trust your instinct

• Successful entry in the Middle East O&G market • US$80m contract award

For government

Key products and services: provider of products, systems and services for the energy industry Main industries served: Oil & Gas – 100%

• The government should make it easier for projects to go ahead with the means available (e.g. tariff support, tax advantages)

Government support?

Headquarters: Oslo, Norway Year established: 1841 Number of employees: 12,000 (1,200 in the UK) Revenue: US$2bn Revenue from exports: 75%

Aker has benefited from the Apprenticeship Levy as well as R&D tax credits. The company has also received innovation grants.

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Success stories

Alderley Family business culture driving export success

How is Alderley thriving?

The company’s family business culture was key in guaranteeing success in Saudi Arabia, where Alderley has become the leading oil metering provider. Collaboration with clients, investment during downturns and valuable support from UK Export Finance (UKEF) were instrumental in Alderley’s success story.

The challenge The oil and gas market has gone through major changes over the last two decades. An ageing UKCS market has led oil majors to seek opportunities elsewhere, reducing O&G-related capital expenditure in the country. Market stagnation led to increased competition especially with commoditised products and lower margins for the whole supply chain. Oil and gas component manufacturers, meanwhile, were undergoing a transition to system integrators.

A company that originally flourished off the back of E&P activity in the North Sea, Alderley had to look at new ways of doing business if it wanted to sustain its growth and thrive in the oil and gas market.

The solution Alderley knew that the UK oil and gas market was finite, and the company took early action to stay ahead of the game. Alderley started doing business in Saudi Arabia since 1999 and the company was fully aware that they were only scratching the surface of the massive opportunities presented by one of the world’s largest oil and gas producers.

Growing opportunities led Alderley, a family-owned business, to make the bold decision to invest in a manufacturing facility in Dubai in 2001. From this Middle East base, the company was able to supply its oil and liquid metering systems to its customers across the Saudi border.

This was close to the Saudi market, but not close enough. Localisation became increasingly frequent across international energy markets and Saudi Arabia was no different. In order to stay ahead of the competition and loyal to its culture of customer intimacy, in 2007 Alderley invested £2m in a manufacturing facility of metering systems in Dammam. Originally a branch of the Dubai office, Alderley’s Saudi base quickly became one of the country’s key supplier of metering systems.

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Alderley’s Saudi story would see an additional chapter. In 2016, at the peak of the oil price crash, the company made a £4m investment to set-up a new 9,000sqm facility in Dammam. It was a massive investment for a family business and carried out enormous risks, but the decision was made for the right reasons: in December 2015, Saudi Aramco launched the In-Kingdom Total Value Add (IKTVA) programme, which aims to boost local content of energy-related goods and services. Alderley was not a shop window in Saudi Arabia, but an established player deploying the best people and technology to serve the local market.

The expanded Saudi facility went beyond Alderley’s traditional offering.

Working closely with Saudi Aramco, Alderley innovated by introducing

Success stories

modular wellsite skids. This solution includes a complete wellsite control and safety process system with digital technology – all integrated onto a single skid. This provides a fully tested, ready-to-operate and easily transportable module to support a prompt installation and fast start-up.

Alderley’s expansion into Saudi Arabia proved hugely successful.

A third of Alderley’s revenues are associated with Saudi Arabia and the company’s Dammam site now employs 72 people, of which 16 are Saudi nationals. Today, Alderley is the primary supply partner for metering, custody transfer and modular wellsite skids to Saudi Aramco. Current market conditions continue to pose challenges – but Alderley faces them upfront. Competition continues to grow, but the company’s long-term commitment means that weaker

Story type

players are flushed out. Having successfully entered two markets in the Middle East, Alderley now looks at the future. From Sub-Saharan Africa to the Asia-Pacific region, the company is encouraged to find new opportunities and thrive in challenging markets.

About Alderley From humble beginnings as a single workshop in Wickwar, Alderley has grown to become a leading provider of skid-mounted, integrated solutions for the global energy industry. The company was initially established to deliver innovative metering systems for the challenging North Sea environment, but now Alderley applies its vast experience and unrivalled technical capabilities across their entire range of skid-mounted solutions.

Repeatedly partnering with some of

Export lessons

For government

• New sources of revenue following internationalisation • Collaboration yielding new industry solutions

• Promote UK capabilities more effectively • Trade delegations can be expensive and frustrating for SMEs. They should provide more value in terms of meetings and contacts • Stronger commitment and investment are needed in carbonreducing technologies (such as carbon capture, utilisation and storage) as well as a continued focus on low carbon sources

Key findings

Government support?

For industry

Alderley has benefited from R&D tax credits as well as the Apprenticeship Levy. In addition, the company has been supported by UK Export Finance (UKEF).

#internationalisation (main category) #collaboration #digital #service/solutions

Benefits

• Take calculated risks • Stay true to your values and what makes you special • Understand market dynamics • Have a strategy, but be prepared to be flexible and agile during the journey

the biggest names in the industry, Alderley’s solutions – including Metering, Produced Water Treatment, Wellhead Controls, Modular Wellsite Skids, Chemical Injection Systems, Surge Relief and Control Systems – have been installed in onshore, offshore and floating applications across the world.

• Invest in understanding target markets • Getting close to the customer and understanding their needs is key • Find trusted, knowledgeable partners • Obtain support from UK Export Finance (UKEF)

Alderley at a glance: Key products and services: provider of skid-mounted, integrated solutions for the energy market Main industries served: • Upstream Oil & Gas – 100% Headquarters: Wickwar, UK Year established: 1989 Number of employees: 370 (215 in the UK) Revenue: £76m Revenue from exports: 90%

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Success stories

AqualisBraemar Driving energy transition

How is AqualisBraemar thriving?

Supporting clients in various energy and maritime segments, the newly merged company has bold plans to step change business value by taking a leading role in the environmental, social and governance (ESG) area.

The challenge AqualisBraemar has experienced a game-changing decade. Starting off as a purely offshore business as Aqualis, the company was previously focused on offshore-related services including warranty and engineering work. A new market environment led the company to acquire Offshore Wind Consultants (OWC) in 2014, which increased Aqualis’ foothold in the renewables market. This was followed by the acquisition of business lines from Braemar in 2019, paving the way for the formation of the AqualisBraemar group.

These changes were transformational.

The company doubled in size and increased its scope of activitities but somehow AqualisBraemar could look like a collective of separate companies.

Synergies were delivered and growth has happened, but there was no significant positive impact to share price. A review of the company’s common purpose and strategy was essential if they wanted to lead and take advantage of opportunities created by today’s rapidly changing energy market.

The solution In November 2019, AqualisBraemar started discussions on how to realign the company for the future.

Discussions and workshops involving executive and management teams took place with a view to get a better understanding of how the company could leverage its oil and gas, renewables maritime and power & utilities expertise to tap additional business opportunities and deliver a single message in a world going through an energy transition process.

This exercise led to the introduction of the AqualisBraemar 2030 strategy.

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In addition to bold targets including the implementation of environmental, social and governance (ESG) reporting anchored in UN principles, a clear goal is to continue to grow, innovate and develop new services to both accelerate and de-risk the energy transition while creating business value.

It was recently announced by the board that AqualisBraemar would grow revenues in renewables and other ESG ‘friendly’ services to 50% by 2025.

A de-risking opportunity in more carbon-intensive sectors, meanwhile was presented to AqualisBraemar in late 2019. The company was awarded a marine warranty survey contract (MWS) by COOEC for decommissioning work of platform topsides and jacket at the SKL-C field - the first ever jacket removal in the Gulf of Thailand. AqualisBraemar’s scope included document review, MWS attendance for towage approval of material barges, topsides and jacket removal and towage approval from offshore field to the dismantling yard.

In the renewables segment, meanwhile, AqualisBraemar’s Offshore Wind Consultants (OWC) business is experiencing rapid growth. In 2019 the company worked on 27 wind farm projects with a combined future installed capacity of 19GW, with a 46% revenue growth in this segment compared to 2018. OWC has a rich track record in helping developers such as Iberdrola, which in early 2017 awarded OWC a framework agreement to provide engineering and project management services for various offshore wind farms in East Anglia, such as the c€3bn, 714MW East Anglia ONE (EA1) project.

Following its formation in June 2019, fast-growing AqualisBraemar is positioning to benefit from growing energy transition opportunities in the renewables, maritime, oil and gas, and power & utilities markets. The company’s OWC division continues to thrive, growing steadily since its acquisition in 2015. A purely offshore business in the past, AqualisBraemar

Story type

Government support?

#energy transition (main category)

AqualisBraemar has joined DIT renewables trade delegations to Japan and Taiwan. The company has also received R&D tax credits.

Benefits • 46% revenue growth in renewables segment in 2019

Key findings For industry • Energy transition and Internet of Things (IoT) present a massive opportunity • Combining these trends in energy generation creates a lot of potential

is rebranding itself as an Energy Transition leader, driving this process in energy and marine segments across the world.

About AqualisBraemar Formed in 2019 following the acquisition of three business lines from Braemar by Aqualis, AqualisBraemar is an independent consulting company offering loss adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 160 locations, 50 offices located across five continents in 35 countries. The company operates under three distinct brands globally – AqualisBraemar, AqualisBraemar Yacht Services and Offshore Wind Consultants (OWC).

AqualisBraemar ASA at a glance: Key products and services: independent consultancy services Main industries served:

Sustainability and diversity lessons • Sustainability actions are not about ‘greenwashing’. A genuine purpose is required, as well as a link to operational benefits.

• Engage employees in social and energy transition projects to help attract and retain talent

For government

• Offshore Oil & Gas – 49% • Marine – 26% • Renewables – 13% • Adjusting - 12% Headquarters: London, UK Year established: 2012 (AqualisBraemar formed in 2019) Number of employees: 423 (50 in the UK) Revenue: US$73.4m (combined revenue) Revenue from exports: 90%

• Work towards a global agreement on international carbon pricing

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Success stories

Aquaterra Energy Intelligently Engineered

How is Aquaterra Energy thriving?

The company’s smart decision to adopt a counter-cyclical market strategy has opened diverse global markets across greenfield and brownfield projects in the oil and gas sector by offering flexible EPC options to suit each client’s unique infrastructure and budget needs.

The challenge During the last downturn in oil and gas prices, conventional wisdom suggests that industry players refrain from announcing new greenfield projects, final investment decisions (FIDs) are postponed and supply chain players bear the brunt of the crisis and try to survive until market conditions improve.

But is this correlation valid for all oil and gas projects?

The solution In Aquaterra Energy’s view, the market offers a broader range of opportunities.

The company did not overcome the last crisis unscathed, but it developed a counter-cyclical strategy which proved valuable during the crisis. Many projects were being cancelled back in 2015-16, but Aquaterra Energy saw that some project enquiries were still coming in at that time. The company started to analyse why these projects were still proceeding despite the downturn and began searching for opportunities with similar characteristics (using EICDataStream as its source of data).

Aquaterra Energy’s research showed that while some operators were refraining from developing projects due to poor market conditions, others were looking to install platforms in order to

meet domestic consumption with firm, long-term contracts. Likewise, the company saw that some companies were taking advantage of lower jack-up day-rates to schedule projects, such as decommissioning campaigns. This realisation opened a new window of opportunity for the company, enabling it to prosper during the industry downturn.

The next step for Aquaterra Energy was to optimise its solutions to clients.

The company worked out how to bundle services together with the aim to provide a more complete offering to the type of clients it was targeting.

The company had to be adaptable and

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ready to find tailor-made solutions to clients’ problems.

Aquaterra Energy’s strategy found success with a client in Trinidad and Tobago. DeNovo Energy, a Proman Group subsidiary, was looking to produce gas offshore in order to feed Proman’s methanol plant in Trinidad.

Aquaterra Energy tendered for the platform engineering contract and after a period of review by the client where other options and suppliers were being considered, were awarded the contract. Aquaterra Energy’s engineering approach was to focus on a modular platform design, which took away the requirement for an expensive

Success stories

installation vessel. Instead of offering a price and scope that required a large and costly jack-up vessel like big EPC players did, Aquaterra Energy proposed to use a smaller jack-up vessel, which was already located in Trinidad.

The project outcome was very well-received by the client. Faster design and agile installation meant that Aquaterra Energy was able to execute the project in 10 months and allow approximately US$20 million in production savings to DeNovo. The decision to work with the smaller jack-up rig also allowed significant cost savings to be achieved.

a 34.3% growth in 2019. By pursuing projects with a broader range of go/ no-go decision criteria, the company was able to tap opportunities in new export markets. Moreover, Aquaterra Energy’s project-specific solutions and flexible approach allow different ways to deliver projects and meet clients’ requirements. As the market changes again, Aquaterra Energy’s adaptability, diverse offering of products and services and pipeline of global projects make the company more resilient to volatile market conditions in the oil and gas industry.

About Aquaterra Energy

Aquaterra Energy’s smart diversification strategy was crucial to overcome the 2015-16 downturn in the oil and gas market. Since then, the company’s revenues have grown year by year, with

Founded in 2005, Aquaterra Energy helps the offshore oil and gas industry increase efficiencies and reduce costs, through a range of products, systems and projects. At the forefront of offshore oil and gas engineering

Story type

For government

#service/solutions (main category) #optimisation #diversification #export

Benefits • Approximate production savings of US$20m • Savings of US$7.2m in jack-up costs • 34.3% revenue growth in 2019

Key findings For industry • Keep your mind open for alternative uses and markets for your products, without excluding any opportunities.

• Be willing and able to diversify and adapt your products and services to new markets

• Government should assist companies that wish to export with key contacts, market analysis and a better understanding of the country they wish to export to • Engage with industry before making energy transition commitments that will be difficult to achieve

Government support?

Aquaterra Energy has so far joined DIT trade delegations to Mexico and the Far East. The company has also benefited from the Apprenticeship Levy, as well as R&D tax credits.

Export lessons • Prioritise local security and safety • Understand markets and local legislation • Avoid open market projects, preferably engage in “must-go” projects

for over a decade, the company specialises in riser systems and the analysis, tools and products needed from the first days of a well’s operation, through to full field development, asset life extension and decommissioning.

Aquaterra Energy’s specialist engineers have supported customers in the North Sea, South East Asia, the Caribbean and Australia and completed more than 1,000 projects to date. Some of the world’s biggest brands and leading players rely on Aquaterra Energy’s products and services for their offshore needs.

Headquartered in Norwich, the company is also present in other parts of the UK, as well as in Australia, Norway, and Egypt.

Sustainability and diversity lessons • Monitor energy consumption on all sites • Design and install products that attract lower CO2 emissions and energy consumption

Aquaterra Energy at a glance: Key products and services: Oil & Gas service company and consultancy Main industries served: • Upstream Oil & Gas – 100% Headquarters: Norwich Year established: 2005 Number of employees: 113 Revenue: £21.5m Revenue from exports: 72%

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Success stories

Aubin R&D optimisation success delivering cost-effective solutions

How is Aubin thriving?

Following the industry downturn, Aubin successfully optimised working capital, procurement and R&D processes. By collaborating closely with key clients and industry bodies to accelerate the company’s R&D and field trial success rates, the company is solving customers’ problems faster and more efficiently.

The challenge The oil and gas market fell off a cliff back in 2015, prompting the supply chain to find ways to cope. Aubin had already outsourced some of its engineering capacities before the industry downturn, as it wasn’t possible to concentrate all engineering skills in-house. The company sensed that a rationalization of resources was still necessary, however, which led to the closure of its US subsidiary. Revenues, meanwhile, were plummeting (approximately 15% between 2013 and 2016).

The solution Aubin had a sense of urgency and the company realised that optimisation was the answer to overcome the crisis.

One of its earliest measures was to bring in a supply chain manager to help retain margins in a low-price market reality. More efficient working capital management was also crucial for Aubin, as suppliers of cheaper raw materials often required payment up front.

Another key measure introduced by Aubin was to optimise its R&D efforts.

The company’s team of chemists was spending a considerable amount of time on ‘blue sky thinking’ projects, without a proper customer-driven approach. In addition, delays with field trials meant that several R&D projects failed to convert to actual deployment.

Aubin decided that active industry and client collaboration early on would help the company pick the right problems to tackle, solve them faster and with less dead ends. Keeping this in mind, Aubin looked at data provided by the Oil & Gas Authority (OGA) on the top ten reasons for well failures and then focused on developing R&D solutions to solve these issues. With a technology plan in place, Aubin was able to schedule field trials early on and improve hit rates, enabling clients to reduce lost production days and save capital by providing them efficient solutions.

Aubin’s R&D focus strategy found success with a client in the Middle East. The company approached Aubin requesting a solution to maintain pressure control whilst replacing a leaking valve on the wellhead. The client wanted to reduce operational costs associated with workover rigs and apply a chemical plug solution, rather than a mechanical one, whilst still maintaining safety standards. The challenging part of this request was providing a chemical solution that would be successful in the high salt content of the produced water used as

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a base fluid. Previous technology used by the client had experienced failures in these demanding conditions and using fresh water would have caused potential reservoir damage.

Aubin’s AXI-Zone solution was recommended, due to its ease of application, tolerance of harsh conditions and cost effectiveness. This technology works by pumping a low viscosity liquid in place via coiled tubing or bull-heading, which then forms a very viscous plug under well conditions, effectively controlling pressure from the formation. Flexibility in pumping time is ensured by adjustment of the AXI-Zone Retarder loading.

Aubin’s technical team worked with the client to optimise the dosage to suit the well conditions and base fluid. In this case, the well temperature was 99 °C and needed a setting delay of 60-75 minutes to place the plug. The client was satisfied with the testing provided

by Aubin that showed AXI-Zone could achieve this delay before setting in the well. During the operation, the AXI-Zone was pumped in via coiled tubing. The plug was allowed to set for 24 hours,

Success stories

before a successful positive pressure test was conducted with 1500 psi differential pressure. Including hydrostatic pressure, this totalled to around 6,000 psi on the plug without failure.

The replacement of the leaking valve on the wellhead was the conducted successfully and safely. Once complete, AXI-Zone was quickly removed with the use of acid, so the well could be put back online. Aubin’s AXI-Zone successfully formed a temporary plug, maintaining pressure control and allowing the wellhead to be quickly and safely repaired. Using this chemical technology meant that a workover rig was not needed, providing an efficient and cost-effective solution for the client.

Story type #optimisation (main category) #collaboration

Benefits • Productions days saved as a result of efficient R&D processes • Revenues increased 20% compared to 2017

Key findings For industry • Hiring new graduates not only reduces costs, but also creates a more dynamic and loyal working environment • It takes years to build trust and days to break it. Be open and honest with customers as much as possible • Smaller companies can respond quickly in times of crisis For government • OGA and OGTC should help innovative suppliers to carry out field trials in a more efficient manner • UK Export Finance could stand

Aubin’s R&D optimisation process was key to succeed during the crisis.

Business started to pick up in 2019, with revenues already 20% higher compared to 2017. Rather than trying to do everything by themselves, Aubin refocused on what it is good at and closely collaborated with industry bodies and clients to achieve higher field trial success rates and deliver cost-effective solutions.

About Aubin Aubin Group is globally recognised as a leading developer and supplier of chemical solutions to the oil and gas industry. The company commits resources to developing effective

behind invoice discounting facilities, as that would make working capital management much easier • The government should provide information on the tax risks and hidden costs for each country • Fit4Energy training programmes are a valuable initiative

Government support?

Aubin has joined trade missions organised by the Department of International Trade (DIT). The company has also received support from the Oil & Gas Technology Centre (OGTC) as well as the Innovate UK’s Knowledge Transfer Network (KTN) for selected projects. Aubin has also benefited from R&D tax credits.

Energy transition lessons • An energy transition committee is useful to coordinate actions, help employees understand where they fit and how energy transition applies to daily life and business • Products may be easily transferrable to industry segments in the renewables sector • Fossil fuels are still needed, and

and reliable products and delivering these promptly to clients around the world. Using chemistry in a number of ways, Aubin develops innovative and proprietary materials technology to solve industry problems.

Aubin’s headquarters are located in Aberdeenshire, where global research and development work is carried out.

The company also has an important presence in the Middle East, with a local support office in Dubai and manufacturing and stocking capabilities in Abu Dhabi and Saudi Arabia.

unrealistic reactions to climate change can be unhelpful

Sustainability and diversity lessons • Always strive to use the most environmentally friendly solutions and materials

Export lessons • Exporting requires commitment to markets and openness to different export routes

Aubin at a glance: Key products and services: design, development, manufacture and supply of chemical solutions Main industries served: • Upstream O&G - 100% Headquarters: Ellon, UK Year established: 1986 Number of employees: 34 Revenue: £9.6m Revenue from exports: 70%

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Success stories

Balfour Beatty Incredible at resolving problems

How is Balfour Beatty thriving?

The company pushed for the use of 3D modelling technology to assess the design complexity of the intake and outfall head structures of the Hinkley Point C nuclear power project.

This smart decision resulted in a 10% weight reduction as well as the virtual elimination of fabrication and assembly clashes, providing the client with greater cost and schedule certainty.

The challenge One of the UK’s largest energy projects today is the construcion of the 3.2GW Hinkley Point C (HPC) nuclear power plant in Somerset. A £22bn

project being developed by EDF, the facility is a highly complex endeavour requiring contractors to present their best solutions to tackle construction challenges.

Indeed, a key project challenge is the so-called Hinkley Marine package.

A vital part of the plant’s cooling system, it includes the construction of six intake and outfall tunnels under the Bristol Channel as well as their respective ‘heads’ – massive reinforced concrete structures placed at the end of the tunnels. After replacing another contractor as the preferred bidder for the contract to build these structures in 2017, Balfour Beatty assumed a key role in making this project element viable.

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The solution After being awarded the £1bn marine and tunnelling works contract by EDF for the Hinkley Marine package, Balfour Beatty wanted to hit the ground running. The company was initially concerned about the sheer weight of the head structures, which exceeded 5,000 tonnes. In view of the structures’ high complexity (each had 120,000 individual elements), the company saw an opportunity to make the project leaner and more efficient by introducing digital technology. Rather than rushing to begin construction work, Balfour Beatty felt that digital modelling would allow a better overview of the design, providing greater certainty to the project.

Success stories

Collaborating with industry partners, project contractors as well as the client, Balfour Beatty made the decision to produce a 3D modelling of the head structures. This proved to be an essential decision for the project: digital modelling revealed thousands of fabrication and assembly clashes, which rendered the project unbuildable.

Beginning in 2018, the company proceeded to carry out a top-tobottom redesign of the structures.

More than 20,000 clashes were resolved, while the heads’ total weight was reduced by 10%.

Balfour Beatty’s introduction of a digital solution had wider benefits.

The company’s project management process became fully paperless, as all project elements were broken down into individual parts and visualised in digital form. Changes were managed more efficiently; progress was tracked online while quality sign-off became easier.

enhanced project visualisation, enabling clash prevention weeks in advance, thus reducing the risk of lost time and delays to the project schedule. Another key project innovation introduced by Balfour Beatty was laser scanning with ground and drone-based technology, which allows verification measurements to be made remotely, (a key benefit amid the current COVID-19 pandemic).

Balfour Beatty’s early decision to apply digital modelling to reduce weight and eliminate clashes during construction work allowed cost and schedule certainty for the Hinkley Point C nuclear project. The company is now championing the use of digital technology to test highly complex designs and de-clash processes in other projects (such as the High Speed Two rail project in the UK), using its leadership to create a truly collaborative effort across digital developers and the supply chain.

Technology is indeed a Balfour Beatty passion. In 2019, the company innovated by moving to a 4D modelling of the structures. This solution

About Balfour Beatty

Story type

Key findings

#collaboration (main category)

For industry

#digital (main category) #innovation #optimisation

• Getting the right leadership on board for a major project is vital, as well as a teamworking mindset with a clear vision and plan • Remain positive and determined

Benefits • Digital technology enabling structure weight reduction and elimination of assembly clashes

power and energy, transportation, water and social infrastructure sectors, the company has over 110 years of experience in the financing, development, construction and maintenance of innovative and efficient infrastructure that underpins daily life, supports communities and enables economic growth. Balfour Beatty’s teams operate across the full, infrastructure cycle, combining worldclass investment capability and leading construction and support services to deliver large, nationally critical complex infrastructure through to local and regional projects. Balfour Beatty’s main geographies are the UK, US and Hong Kong, with 26,000 employees worldwide.

Balfour Beatty is a leading international infrastructure group. Active in the

Balfour Beatty at a glance:

For government • UK construction capabilities should be actively promoted around the world

Government support?

Key products and services: construction and support services Main industries served: • Construction services – 81.5% • Support services – 12% • Infrastructure investments – 6.5% Headquarters: London, UK Year established: 1909 Number of employees: 26,000 Revenue: £8.4bn Revenue from exports: 60%

Balfour Beatty has not received any type of government support.

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Success stories

BMT From ‘data ocean’ to powerful analytics

How is BMT thriving?

The company has undergone an inspiring transformation journey from ‘data ocean’ to powerful analytics.

The company has progressed from monitoring vast amounts of information to providing key data insights to clients. Applied across multiple markets, BMT’s interactive BMT Deep tool provides real-time and actionable data that enhances decision-making, extends asset life and reduces risk.

The challenge A key challenge for remote sensing technology on oil and gas platforms is the large amount of acquired data.

Sensors monitoring the integrity of a platform can generate 150MB of data per hour, which means a staggering 30TB of data is obtained over a design life of 25 years. Hundreds of platforms are equipped with sensing technologies, leaving companies to deal with an ‘ocean’ of data.

This was a key challenge for BMT. The company’s systems were unable to cope with such a large volume of data, which required multiple analysts to process vast amounts of information.

Meanwhile, oil prices were falling, and a growing number of competitors were targeting an increasingly smaller pool of projects. Developing a new system to make data analysis more efficient and becoming more competitive in deteriorating market conditions was crucial for the company.

In-house ingenuity would help BMT tackle the analytics aspect of the challenge. One very talented analyst working at the company’s Houston office saw the challenge of dealing with massive amounts of information and came up with a more efficient way of working with data. He understood people wanted to see data differently: instead of long paper reports, companies wanted visible data and information that could be acted upon immediately.

The solution

BMT decided collaboration was key to developing this idea. Working with an external partner – Capgemini – the company developed BMT Deep to provide a far more efficient management, exploration and analysis platform. BMT Deep allowed BMT to refocus its analysts into looking at adding value to the data set, removing them from some of the more general data cleansing tasks and giving them a more interesting role. It has allowed data to be delivered digitally almost in real-time, eliminating printed reports.

BMT adopted a fix-win-grow strategy. To begin with, there was a restructure of the business to generate cross-collaboration across markets and regions. As part of the re-organisation there was a merger of the Energy business area with Infrastructure and Ports, which was rebranded as ‘Critical Infrastructure’.

This allowed the company to look across multiple business units and regions, review their collective capabilities and capitalise on them.

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Success stories

BMT Deep also allows trends in data sets to be monitored and enables predictive maintenance using artificial intelligence. Enjoying a less siloed structure, BMT is now in the process of testing BMT Deep in other parts of the business, including environmental, mining and transport applications.

has also allowed greater cost and safety benefits, as the system provides real-time data on several aspects of the unit’s operation including wind speeds at helideck and mooring lines.

About BMT

offices in the Americas, Asia, Australia and Europe.

BMT had the opportunity to deploy BMT Deep at an oil major. After installing multiple sensors on one of its FPSO’s we offered them a data management option with a BMT Deep licence. Enhanced data obtained from BMT Deep for the 320,000b/d unit is allowing less conservative fatigue calculations. Reducing the risk factor has the potential to extend the unit’s operational life and, subject to various factors such as oil prices and life extension duration, total savings could be as high as US$1bn. Feedback from clients has suggested that BMT Deep

Formed in 1985 following the merger of the British Ship Research Association and the National Maritime Institute, BMT is a leading international design, engineering, science and risk management consultancy with a reputation for engineering excellence.

From initial concept through to design, construction, operation and eventual decommissioning, the company supports customers at every stage of the project lifecycle. Active in the oil and gas, defence, renewable energy, ports, risk management and maritime transport sectors, BMT has around 1,500 professionals located in 47

Story type

Key findings

#digital (main category)

For industry

#diversification #innovation #collaboration #transformation #service/solutions

• Encourage and finance talent, don’t assume innovation only comes from top down For government

BMT at a glance:

Benefits

• Greater support is needed with financial guarantees and tax advice

Key products and services: design, engineering, science and risk management consultancy

• Massive production savings due to asset life extension • Improved safety • Visualise big data securely through cloud technology • Improve operational efficiency • Reduce inspections frequency and costs • Focus on assets’ performance and behaviour

BMT has a clear vision to be recognised in our core markets and to move up the value chain to become a Trusted partner, focussing on how we can address our customer’s most challenging needs. How we achieve the realisation of this vision is through our strategy. BMT has a company-wide market facing strategy built around our 3 strategic priorities; sustaining the core; growth through collaboration; exploit and invest in innovation. The strategy is aimed at where we see real opportunities for growth.

Energy transition lessons

Government support?

BMT benefits from the Apprenticeship Levy and has received R&D tax credits.

The company has also received funding from Innovate UK.

Sustainability and diversity lessons • Regular employment engagement surveys are an effective way to monitor diversity culture

• There are skill sets that can be transferred to the renewables sector (e.g. naval architecture in the floating offshore wind segment)

Main industries served: • Defence – 60% • Critical infrastructure (Energy, Coastal, Mining) – 20% • Water and Environment – 11% • Commercial shipping – 9% Headquarters: London, UK Year established: 1985 Number of employees: 1,400 Revenue: £180 million (2019) Revenue from exports: 95%

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Success stories

Brainnwave Transforming decision-making with smart use of data

How is Brainnwave thriving?

Using their existing and new algorithms, the company is helping social housing firms make better decisions and enabling them to allocate time and resources more efficiently.

Brainnwave is proving that the power of data analytics and visualisation can be applied across a range of sectors beyond oil and gas.

The challenge A key challenge for any major company is how to make efficient use of data: acquiring it is a very important step, but so is understanding and applying it to day-to-day business. In 2019, a contact at Metropolitan Thames Valley Housing (MTVH) approached Brainnwave with a view to understand

how they could put their social housing data – driven by obsolete systems from the 1980s – to good use. Could an ocean of data indicate trends and improve decision-making?

The solution The opportunity to work on a social housing project was ideal for Brainnwave. Although it was the first time they were involved in this segment, the company’s scalable analytics platform meant it was not necessary to reinvent a solution every time. In addition, oil and gas opportunities were still infrequent at the time and keeping busy was critical. Moreover, the experience acquired in this new sector would allow Brainnwave to apply its learnings to the slow-moving but much bigger oil and gas market.

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Brainnwave’s work brought new insights for MTVH. For example, analysis indicated that people who suffered eviction were in negative credit six weeks before the eviction notice – a situation that could have been avoided with positive intervention at that stage.

Brainnwave’s work with data brought MTVH together by helping them align on key findings, make better decisions and innovate.

Following the pilot project with MTVH, Scotland’s Wheatley Group also approached Brainnwave with a similar request. Wheatley, a social housing firm, wanted to know if advanced analytics – using internal and external data – could deliver anything useful. A pilot project conducted by Brainnwave provided Wheatley with a range of tools. Data on failed visits was used to predict optimal visit

Success stories

times and boost efficiency, while ‘data clustering’ helped identify tenants with similar properties. Furthermore, the modelling of who is likely to default on rent payments enables Wheatley to build new business processes and take early action to avoid evictions.

Brainnwave’s pilot projects for MTVH and Wheatley – both ongoing and worth £300,000 p.a. – are more important for social than financial reasons. Their common objective is to achieve the best social outcomes, which is attained by the optimal allocation of funding in order to deliver better services. If social housing firms can save £5m in annual repair costs by reducing the number of failed visits, this amount can be reinvested into improved living. It’s all about improving people’s lives.

- the challenge is to balance agility and diversification by selecting the best core strategies and sectors.

Brainnwave looks forward to continuing helping companies redirect time and resources to maximise benefit, while pivoting to O&G opportunities associated with the energy transition process.

About Brainnwave A growing start-up created in 2015 by two experienced entrepreneurs, Brainnwave is Augmented BI for Business Leaders and Strategists

Brainnwave was created to bring together the immediacy of traditional BI practices with new augmented analytics tools to deliver a visual platform aimed at C-level executives and strategy teams. We unlock the value in our clients’ information, supporting them in making timely and confident decisions based on facts, not hunches.

Brainnwave calls this approach Augmented BI (ABI), a seamless, visual intelligence platform built for executives and strategists.

Brainnwave’s approach and learnings from the social housing segment show how data analytics and visualisation can be applied readily across many seemingly unrelated sectors. The core elements of data, software, skills and solutions apply to anyone

Business leaders and strategy teams are increasingly turning to data to inform their strategic decision making. But traditional BI fails under today’s higher data volumes and many are disillusioned by the slow progress of so-called “Augmented Analytics” initiatives that employ machine learning, data science, AI, and predictive analytics. To date, augmented analytics programs have been deployed separately from existing BI platforms, often by separate, uncoordinated efforts.

Story type

Key findings

Brainnwave at a glance:

#digital (main category)

For industry

Key products and services: data intelligence solutions

#diversification #innovation

• Start-up companies should embrace diversification – but with caution • Hold your nerve and stick to your core strategy

Benefits • Contract awards worth US$300,000

Main industries served: Oil and Gas – 70% • Others – 30%

For government • Authorities should embrace the use of smart digital solutions to tackle local issues

Headquarters: Edinburgh, UK Year established: 2016 Number of employees: 12 Revenue: £1m Revenue from exports: 0%

Government support?

The company has received a £500,000 grant from the Oil and Gas Technology Centre (OGTC).

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Success stories

CalGavin Heat transfer innovation

How is CALGAVIN® thriving?

A world-leading heat transfer innovator, the company has collaborated with the University of Birmingham to develop the Centre for Flow Processing in Alcester, a £6m facility which will provide untapped value for clients in the oil and gas and process industries.

The challenge Having a fit-for-purpose facility is a key challenge faced by the energy supply chain. For companies heavily involved in R&D, this challenge is even more critical. The process of developing

technologies to drive innovation and stay ahead of the competition requires purpose-designed areas. It also entails the need for essential industrial references together with test data for designing, sourced from sophisticated test facilities. This essential ongoing need to facilitate this, further puts emphasis on purpose designed laboratories. The lack of a suitable facility potentially undermines business opportunities and compromises longterm growth.

The solution This was CALGAVIN’s challenge. A company whose core business is

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to release value for oil and gas and process clients in their heat transfer applications, they wanted to expand business opportunities and develop new products of high commercial value. However, CALGAVIN’s facilities were not big enough to handle growth and accommodate the key R&D work.

Collaboration would be the answer to CALGAVIN’s multiple research needs. Working with the University of Birmingham, the company developed the idea of a ‘Centre for Flow Processing’, a facility that would allow the research of new solutions to update and expand upon the 40year old wire-mixing technology. The

Success stories

benefits are such that Universities are required now to provide exploitation routes to meet the requirement of grant funding, thereby recovering the country’s investment.

The University gains access to live projects to feed into its expertise and ‘State of the Art’ position as a University. It should be noted that Universities investigate phenomena where as CALGAVIN, as a company, aim to develop technology, products and services, i.e. ‘Solutions’ to meet the needs of Industry bridging the gap between Academia and Industrial applications.

Collaboration was key to maintain CALGAVIN at the forefront of flow processing technology. Working with the University of Birmingham as its prime collaborative partner, CALGAVIN plans to open the new R&D centre in late 2021 (originally expected in mid2021), but startup was postponed due to the COVID-19 outbreak.

It is expected to be the focal point for the integration of commercial and R&D facilities that will contribute to position the UK at the forefront of flow processing for years to come.

its business to serve industries such as steel production, electronics and food processing, among others.

The company also collaborates actively with UK and overseas universities on the research and development of process enhancement solutions.

With headquarters in Alcester, UK, CALGAVIN also has offices in India, Germany, Japan, Taiwan, South Korea, and Mexico.

About CALGAVIN

The University loaned CALGAVIN a £100,000 fluid-in-flow specialist laser measurement instrument for this and the company secured funds to build a secure facility for the R&D work. A £6m project, the Centre combines two key activities: fundamental science work by universities and application engineering work by the industry. Indeed, there are two global chemical companies already involved as partners for this R&D work.

Established in 1980, CALGAVIN is a British engineering company supplying heat transfer solutions. The company has grown its engineering expertise for 40 years, working with many global energy companies, EPC contractors and equipment fabricators.

Story type

Key findings

CALGAVIN at a glance:

#collaboration (main category)

For industry

Key products and services: provider of innovative heat transfer solutions

#export #innovation #service/solutions #technology

• Decide on your goals and be completely committed to achieve them • Many synergies can be found with universities, yielding a variety of R&D opportunities

Benefits • Potential for enhanced business portfolio following development of new technologies

Although CALGAVIN has built its world success mainly in the oil and gas sector, the company has broadened

For government • Greater commitment is needed around climate change pledges

Government support?

Main industries served: • Downstream O&G – 65% • Upstream O&G – 20% • Power generation – 15% Headquarters: Alcester, UK Year established: 1980 Number of employees: 35 (31 in the UK) Revenue: £3.5m Revenue from exports: 90%

CALGAVIN has received grants and R&D tax credits. The company also joined DIT trade delegations in the past.

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Success stories

Crondall Energy Embracing energy transition

How is Crondall Energy thriving?

The company is winning contracts after investing 12 months to understand energy transition challenges. Crondall Energy firmly believes that now is the time for oil and gas companies to embrace opportunities in up and coming segments such as hydrogen, carbon capture and offshore wind.

Building on a strong culture of solving problems, the company wants to be part of the future and is preparing their business to be relevant to next generation talent.

The challenge Energy transition is no longer a distant concept. Governments, communities and private sector are actively engaged in reducing their carbon footprint through the use of cleaner technologies. For the energy supply chain, this represents both an opportunity and a challenge. How can

suppliers adapt to a new market reality and stay relevant in a rapidly changing environment?

The solution Crondall Energy is keenly aware of market tendencies around energy transition and decided to act. However, the company had no previous experience or track record in areas such as hydrogen, carbon capture utilisation and storage (CCUS) or floating offshore wind, so it invested in getting up the learning curve to remain relevant in the energy sector.

Crondall had the opportunity to put this idea in practice with a project in Scotland. The project aims to transport carbon dioxide (CO2) from the St. Fergus gas processing terminal to an underground storage site off the coast.

Benefiting from its subsea expertise, Crondall looked at efficient ways of controlling and powering subsea facilities associated with CO2 injection, reviewing

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the need for new facilities compared to the use of existing infrastructure.

Another example of work in the energy transition segment is a CCUS project conducted with technology partners WSP and GeoEnergy Durham. Acting as the White Rose Project Lender’s Engineer, Crondall Energy addressed the offshore transportation system and offshore facilities, while GeoEnergy Durham was responsible for all the subsurface work and WSP performed the capture and onshore work.

The success of working with WSP and GeoEnergy Durham led to the same consortium bidding for the BEIS ‘CCUS Development Engineering and Technical Advisory Support’ contract.

At the time of going to press the consortium have just been awarded this important contract which is a significant step in Crondall Energy’s journey to be an active contributor in the Energy Transition.

Success stories

and motivate talent. Indeed, the company is determined to hand over the organisation to a next generation of people who are excited about Crondall Energy’s place in the future.

It’s just the beginning for Crondall Energy’s energy transition journey.

Crondall Energy firmly believes that energy transition is an opportunity for today.

About Crondall Energy

Crondall Energy’s culture has played a key role in this process. The company has an eagerness to learn and share knowledge, enjoying good relations with academia and technology

Story type #energy transition (main category) #culture (main category)

bodies. Brainstorming challenges and trying to find new solutions is part of the company’s DNA and the pursuit of energy transition expertise is considered a key strategy to attract

Crondall Energy at a glance:

For government

#diversification

• Governments need to discuss financial models for a world going through energy transition

Benefits

Government support?

• New business opportunities arising from energy transition

Crondall Energy is account managed

by Scottish Enterprise, which has helped by providing travel support, access to graduates and website design. In addition, the company has received grants from the OGTC and the OGIC for technology projects. Crondall Energy has also benefitted from R&D tax credits.

Key findings For industry • Running a business is not about commanding a ship, but giving people lots of rope and supporting them • Find good people and trust them as much as possible

Crondall Energy is a leading independent provider of commercial, strategic and technical consulting services for energy projects using floating production and subsea technologies.

The company works with a range of project stakeholders, including oil and gas companies, investors and law firms.

Founded in Crondall, Hampshire, in 2001, the company today is present in London, Winchester, Aberdeen and Newcastle, in addition to international offices in Houston and Singapore.

Key products and services: commercial, strategic and technical consulting services Main industries served: • Upstream O&G is historically 100%, but this is reducing due to work in the Energy Transition.

Headquarters: • Subsea – Aberdeen, UK; Floating Production – Winchester Year established: 2001 Number of employees: 42 (40 in the UK) Revenue: £6.9m Revenue from exports: 56%

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Success stories

Crowcon Detecting gas, saving lives

How is Crowcon thriving?

From stalled growth to a 10% compound annual growth rate (CAGR), the company has undergone a complete transformation. Crowcon today has new and diverse leadership teams and a refreshed vision and purpose. The company is solving clients’ unmet needs, leveraging strengths of technology and expanding into new markets.

The challenge Three years ago, stagnation defined Crowcon’s state of affairs. A very successful supplier in the past, the company somehow lost fuel to drive forward. Crowcon started to lack in innovation, with flat sales and poor results. Growth rates were not meeting the expectations of its parent company, which led to a point where Crowcon either had to invest a lot or reduce costs to grow.

The solution When current Managing Director James Gravestock joined Crowcon in 2017, his mission was to restructure the company in order to achieve growth. Adopting a renewed vision and purpose, Crowcon focused on reigniting the spark of innovation in order to create best-in-class solutions for the market. The company hired recruits with multi-sector expertise and external perspectives including innovative solutions such as the internet of things (IoT), while bringing together its leadership team to understand Crowcon’s capabilities, assess market opportunities, gain insights from the market and make the right decisions in line with a growth strategy.

Market insights were indeed fundamental in Crowcon’s path to growth. Changing needs in the Asian market led the company to create a Centre of Excellence (CoE) in China, which focuses on air quality solutions for issues involving gas releases and perimeter monitoring. Crowcon’s Chinese CoE has a direct interface with Chinese authorities to work on

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air quality regulations and develop solutions around emission controls.

This initiative has unlocked market opportunities for the company, which now supplies ‘rings’ of detection equipment around industrial parks with each contract worth approximately £100,000–200,000 per ring.

Another market demand would lead

Success stories

Crowcon to develop new solutions.

Customers in the Middle East had great concerns about the ability of existing technology to reliably monitor high levels of hydrogen sulphide (H2S) in the atmosphere. While there are many devices available for this application, fallibilities are known in high-temperature environments. By using updated sensor technology in existing Crowcon devices, the company was able to develop and launch a solution for this issue.

Another key solution involves a digital tool. A key customer in the food and beverage sector had thousands of Crowcon devices present in facilities around the world, but the client lacked an asset management and visibility tool. There were two simple questions, : how would they know that devices were turned on and how do we know everyone is safe? Realising that distributing detection tools was not enough, Crowcon created a centre of excellence in India devoted to find a solution. This new CoE which developed Crowcon Connect,

an innovative cloud-based platform that provides key insights to clients regarding devices’ calibration, use and maintenance requirements, providing O&M savings of 20%. Launched in 2020, Crowcon has already secured a £1 million contract for this new solution.

Crowcon has undergone a major transformation journey. From stalled growth to a compound annual growth rate (CAGR) of 10% after three years, the company is thriving again. Using R&D to develop innovative solutions, the company is meeting clients’ needs and ensuring that its devices meet the company’s vision: create safer, cleaner and healthier lives for everyone.

from gas hazards by providing both portable and fixed solutions, enabling personal, plant and largerscale monitoring. The company operates globally through a network of regional offices and authorised channel partners. The company has its headquarters in Abingdon UK, with offices in China, India, the Netherlands, Singapore, UAE and the US. Crowcon is part of the Halma plc, a global group of life-saving technology companies.

About Crowcon Crowcon designs and manufactures gas detection instrumentation equipment for a range of industries, including oil and gas, power, water, steel, marine and food and beverage, among others. Crowcon’s vision is to protect people and the environment

Story type

Key findings

Crowcon at a glance:

#service/solutions (main category) #transformation (main category)

For industry

Key products and services: research, design and manufacture of gas detection products

#digital #diversification #innovation #optimisation #technology

Benefits • 10% compound annual growth rate (CAGR) over three years • Contracts awards as new solutions are launched in the market

• Ensure you have the right mix of tactical and strategic approaches • Create competitive advantage by having the solution your client wants For government • Better governance is needed impact of carbon emissions, with the implementation of standard requirements that are measured and enforced

Government support?

Main industries served: • Oil & Gas – 30% • Power and Water – 21% • Food and Beverage, Mining, Process and Steel – 27% • Others – 22% Headquarters: Abingdon, UK Year established: 1970 Number of employees: 245 (165 in the UK) Revenue: £41.5m Revenue from exports: 60%

Crowcon has benefited from the Apprenticeship Levy as well as R&D tax credits.

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Success stories

DNV GL At the forefront of energy thinking

How is DNV GL thriving?

In collaboration with the Department for Business, Energy & Industrial Strategy (BEIS), Ofgem and Northern Gas Networks, the company has developed the ‘HyStreet’ research facility to provide evidence of how hydrogen can be used safely in homes. With the latest initiative, DNV GL consolidates its position at the forefront of energy thinking, making valuable contributions to the discussion around Energy Transition.

The challenge As populations and cities grow and energy demand increases, the subject of decarbonisation of energy sources becomes more evident. Renewables are growing day by day but hydrocarbons are still the backbone of energy supply across the world.

Discussions on how the world’s energy

matrixes will transition from fossil fuels to low-emission sources are at the centre of the current energy debate. As countries make ambitious emissioncutting pledges at climate conferences, how can the supply chain contribute to the debate?

The solution A company that invests 5% of its revenues in R&D, DNV has a keen interest in using its extensive knowledge of the industry to provide technology perspectives for its clients.

From healthcare to defence, the company is constantly seeking ways to enable all stakeholders to obtain fresh and accurate insights on where the world is headed to.

One of the company’s main initiatives within this context is the Energy Transition Outlook (ETO). Started in 2012 as an internal strategic tool to

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identify fundamental shifts in the energy system, in 2016 the report became available to all audiences and is now a key tool to inform industry about the energy transition process and how it affects business. DNV’s ETO report provides a forecast based on current policies and assumptions, pointing to technologies that will shape the decarbonisation process.

Today, hydrogen is one of the most discussed vectors of clean energy.

Hydrogen fuel cells, an efficient way of storing surplus renewable energy, can be used to power vehicles as well as provide heating to houses, with zero emissions. Approximately 24 million people across the UK use gas to heat their homes, which is equivalent to 17% of nation-wide carbon emissions.

If the country is to achieve its net-zero emissions target by 2050, there must be an alternative heating source for those houses.

Success stories

In a bid to assess the commercial viability of hydrogen for heating purposes, Northern Gas Networks has commissioned DNV to carry out research work into how to a blend of hydrogen and gas in the UK gas pipeline network could allow the safe use of hydrogen in homes. The project is known as ‘Hy4Heat’ and is carried out in partnership with the Department for Business, Energy & Industrial Strategy (BEIS) and Ofgem, among other players. As part of its research, DNV decided to innovate by building a row of terraced houses with different layouts to carry out tests regarding hydrogen leaks in home environments.

Dubbed ‘HyStreet’, the project is conducted at DNV’s Spadeadam testing and research centre in the UK. Hy4Heat and HyStreet are conducted in close cooperation with the supply chain, which is able to test a wide array of equipment that is installed on gas networks.

Story type #energytransition (main category) #collaboration #innovation #technology

Benefits • Increased influence in the market • Increased ability to attract staff with new Energy Transition messaging

Key findings For industry • Encourage curiosity • Challenge yourself to think widely • Be bold in seeking change

DNV’s work in the decarbonisation field places the company at the forefront of energy thinking. The company’s Energy Transition Outlook has become a key indicator for society and industry about the reality of continuing reliance on hydrocarbons without more radical behaviour and policy change. The Hy4Heat and HyStreet initiatives, meanwhile, are an example of industry collaboration to demonstrate how hydrogen – a key element in the transition to a low-carbon energy system – can be safely used in the near future.

assurance, software and independent expert advisory services primarily to the maritime, oil and gas, power and renewables industries. Focus areas also include digitalisation, ocean space, cities and ports, and life sciences.

An organisation present in more than 100 countries with experience dating back to the 19th century, DNV GL has grown to become one of the world’s leading quality assurance and risk management players. The company provides classification, technical

A company that invests 5% of its revenue in R&D, DNV GL is engaged in several joint industry projects (JIPs) in collaboration with customers with a view to develop solutions, standards and practices that help solve industry challenges. JIPs related to the role of natural gas in the energy transition process include the development of a risk evaluation tool for FSRU-to-power projects and the introduction of a quality assurance protocol for the use and transport of CO2, among others.

For government

DNV GL at a glance:

About DNV GL

• Continue to push on low carbon agenda, enabling UK companies to be more attractive overseas as energy transition solution providers • Post-Brexit embedded carbon tariffs could substantially improve UK competitiveness

Government support?

In the UK, DNV GL has received R&D tax credits. The company also benefits from the Apprenticeship Levy

Energy transition lessons

Key products and services: large technology advisor to customers in maritime, O&G and energy businesses Main industries served: • Maritime – 30% • Oil and Gas – 20% • Renewables – 20% • Certification – 20% • Others – 10% Headquarters: Oslo, Norway Year established: 1864 Number of employees: 12,000 (1,400 in the UK) Revenue: (£300m in the UK) Revenue from exports: 25% (DNV GL UK)

• Collaborate with supply chain to identify, test and introduce lowemission products and services • Combine engineering know-how in various segments and redeploy it in decarbonisation

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Success stories

GWEC Offshore Exceeding expectations through collaboration

How is GWEC Offshore thriving?

A fully collaborative joint-venture with Chinese partner, GWEC Offshore combines high-end mooring equipment engineering expertise with world-class quality and lower cost manufacturing to create a trusted, globally diversified business.

The challenge Back in 1998, Griffin-Woodhouse had no major worries in sight. The centuriesold company was employing more than 100 people at its Cradley Heath headquarters in the West Midlands, with

a £4m annual revenue. That same year saw the company earn the Queen’s Award for Export Achievement, for third time in its history.

A storm was brewing in the horizon, however. As the new century arrived, so did strong competition from Chinese suppliers. Following the departure of the Royal Navy and other key clients, GWEC saw its revenues plummet to £350,000 in 2004. It was a completely new scenario for the company, requiring equally novel strategies.

The solution Griffin-Woodhouse knew it wouldn’t

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be able to compete in those terms.

In the early 2000s, the company made the decision to stop large-scale manufacturing in the UK and adopt a bespoke equipment approach. The idea was to leverage on the company’s expertise and technology to make specialist engineering products which couldn’t be replicated by low quality manufacturers. Later on, GriffinWoodhouse adopted a strategy to buy equipment from a low-cost, but highquality, Chinese manufacturer while fabricating selected equipment in the UK. In 2011, a new Chinese opportunity came along. Griffin-Woodhouse started initial contacts with a highly skilled

Success stories

Chinese supplier that was looking to add offshore mooring chain capabilities.

A partner with a common business culture and the same quality track record as Griffin-Woodhouse, the chain manufacturer Qingdao Anchor Chain Company was a perfect choice for a partner. Griffin-Woodhouse would combine its bespoke engineering expertise with Qingdao’s lower cost and yet high-quality products. After initial meetings and trials, the two companies finally agreed on the creation of the GWEC Offshore joint venture in 2015.

The GWEC Offshore JV would be instrumental to get back an old client.

Back in 2000, Griffin-Woodhouse decided to step away from a contract with the Ministry of Defence (MoD) as the company didn’t want to compromise their reputation by supplying low-quality products. Fifteen years later, GWEC was called as an expert witness against the subsequent supplier contracted to deliver mooring equipment for the Royal Navy. After

Story type #collaboration (main category)

Benefits • Successful turnaround of the business following creation of a joint venture

Key findings

this episode, the long-term relationship supplying mooring equipment to the MoD, including the nuclear submarine fleet, was re-established – thanks to the high quality and confidence provided by GWEC Offshore.

An equitable partnership based on a collaborative approach, GWEC Offshore has enabled valuable business opportunities. Revenues continue to rise - £3.1m in 2019 compared to £1.5m three years earlier? as the company wins large offshore mooring contracts in both previous and new markets. Leveraging on the quality and technology that its brand stands for, GWEC Offshore looks forward to expanding the capacity of its joint-venture and tap new business opportunities.

About GWEC Offshore Originated in 1790, Griffin-Woodhouse Ltd. has an unrivalled manufacturing history and is globally acknowledged

• Choose the right partner, provide detailed instructions, ensure clear communication/ understanding but most importantly be there to oversee and verify the outputs.

• Long-term international partnerships must be win-win, require constant relationship management and should be founded on trust and free sharing of information For government

as a market leader in consultation, design, manufacture and supply of offshore moorings. Exporting to more than 50 countries worldwide, the company engineers’ systems to exceed client expectations. Their ability to deliver total mooring solutions is underpinned by an extensive knowledge and experience developed over hundreds of years.

In 2015, Griffin-Woodhouse and Qingdao Anchor Chain Co. signed a joint-venture agreement for the introduction of GWEC Offshore Ltd, focusing on the manufacture and supply of mooring equipment for offshore applications worldwide.

GWEC Offshore at a glance: Key products and services: design, manufacture, supply of mooring equipment Main industries served: • Offshore O&G – 60% • Defence – 30% • Others – 10%

For industry • Be collaborative – genuinely engage with all stakeholders to help you achieve success • Assess market conditions and look constantly for improvement opportunities • Define a strategy and put it into action • Do your research and take all the advice you can get

• Better assistance is needed for UK exporters • Promote the UK brand around the world

Government support?

Headquarters: Cradley Heath, UK Year established: 1965 (as GriffinWoodhouse Ltd) Number of employees: 260 (10 in the UK) Revenue: £3.1m Revenue from exports: 70%

GWEC Offshore has received TAP funding to join a wind-related exhibition in 2020. In addition, the company has received R&D tax credits.

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Success stories

Hi-Force Differentiating through added value

How is Hi-Force thriving?

Real advocates of ‘Made in UK’ manufacturing, the company is wellpositioned and self-funded for growth during tough markets. Hi-Force is constantly diversifying across multiple sectors, with 80 distributors worldwide and focuses on solutions, added value and training.

The challenge Fierce competition with low-cost players is a key theme in any business

segment and oil and gas is no exception. Certain products become commoditised and supply chain players have to find new ways to differentiate from competitors.

The solution Hi-Force’s DNA has always consisted of being an ‘added value’ company.

Rather than becoming another ‘box shifter’ manufacturer, Hi-Force instead focusing on providing the best possible service and solutions providers. Adopting a problem-solving attitude, the company strives to build

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relationships with customers and understand their problems.

Another Hi-Force passion is training. The company wants to tell clients in a truthful and factual manner about its tools and what they can expect from them. The company invested £400,000 in training school facilities and introduced ECITB accreditation to get its trainers wellequipped to provide customers the best after-sales support they can get.

In 2014, the company decided to spread risk and diversify. The company only had 40 distributors that year and

Success stories

was very much reliant on the CAPEX oil and gas opportunities, which at the time accounted for more than 50% of its revenues back then.

Following the 2014 downturn in oil and gas prices, however, the company refocused on the O&M segment and related services, while relying less on the oil and gas market. The company doubled its distributors and reduced its CAPEX reliance to 25% of overall revenues, while increasing margins due to higher labour content.

Despite challenging market conditions, Hi-Force is still diversifying while focusing on its quality service to fend off competitors. The company is looking at higher-end products (which can’t be easily replicated by low-cost competitors) to stay ahead of the competition, while maintaining its enviable financial position. Hi-Force knows that maintaining a sustainable and diversified business is key to being able to ride out bumps in the road.

manufacturer and supplier of hydraulic tools.

Catering to a wide variety of industries, the company’s product range comprises over 2,000 products, including hydraulic cylinders, pumps, jacks, torque tools, bolt tensioners, hydrotest pumps, puller kits, crimpers and cutters, nut splitters, flange spreaders, Toughlift jacking systems and other industry-related hydraulic tools.

In addition to supplying of highquality products, Hi-Force also offers first class on-site service packages, including short and long term Hi-Force tool rental agreements.

Hi-Force is the UK’s leading designer,

Headquartered in the UK, the company’s network of regional offices extends to Azerbaijan, Italy, Malaysia, Netherlands, Saudi Arabia, South Africa and three locations in the UAE, each with significant stock holding and after sales service facilities including service, repair, calibration and testing.

Story type

Key findings

Hi-Force at a glance:

#service/solutions #diversification

For industry

Key products and services: manufacturer of high-pressure hydraulic tools

About Hi-Force

Benefits • Successful diversification from CAPEX to OPEX • Higher margins due to focus on service and solutions

• Believe in what you are doing • Take lessons from COVID-19 outbreak (e.g. WFH, video calls, travel habits) For government

Main industries served: • Oil and gas – 35% • Mining – 25% • Power – 15% • Other – 25%

• Encourage UK-based manufacturing

Government support?

Hi-Force has benefited from grants (including one from the East Midlands Development Authority), R&D tax credits and the Apprenticeship Levy.

The company also joined DIT trade delegations in the past.

Headquarters: Daventry, UK Year established: 1986 Number of employees: 250 (110 in the UK) Revenue: £35m Revenue from exports: 80%

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Success stories

Indra Taking on international markets

How is Indra thriving?

A family-run company with a strong culture of independence, technology and quality, Indra has experienced great success in the domestic & export markets. A member company, the company uses EIC data to target key markets and diversify beyond oil and gas in LNG, energy, and petrochemical products, increasing its customer base in just few months

The challenge Indra owned by an Italian family; Indra started its activities in 1987 with only three people. As an independent ball valve manufacturer, with around 60 people at date, the company has slowly built up its reputation, gaining

trust from key customers during its growth process. Over the years Indra has established its position as a key player in its domestic market but with attention to the prospects of selling abroad. Could it be possible that one small-medium-enterprise (SME/PMI) from Magenta become one new next Italian exporter?

The solution What allowed Indra to become an important brand for the national market also allowed the success of exports. The company’s products often made customised and the attention to help customers to solve their technical problems in a flexible and rapid way have been fundamental in building trust between domestic

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customers and the key to attracting international ones.

Indra’s internationalisation process started about five years ago. With the increase of the company’s trust in its quality and track record, the management has decided to be present on international markets to start exporting its products. Instead of a big leap forward, Indra had a steady growth plan: the company started selling through agents, slowly building connections with big EPC players and end users outside of Italy. In recent years, the company has been able to devote its direct sales resources to the export management, combined with the work of agents.

As part of a global process, Indra has

Success stories

decided to move closer to the LNG market. In recent years, the company has been involved in the design, manufacture, and supply of cryogenic valves for two important LNG projects: Yamal LNG (2012) and Arctic LNG 2 (2019). The latter, a multimillion-dollar opportunity, was an example of direct sales to the project.

The company is now actively dedicating resources to appear on the list of valve suppliers for the main LNG projects while participating in large LNG events to publicise the skills acquired in the sector.

Already a protagonist in the Italian market, Indra is therefore ready to seize opportunities in new sectors and markets. Starting with the agents and moving to direct sales, the company participates in various projects in Brazil, the United Arab Emirates, and the United Kingdom.

four years later this figure doubled.

Not small, but not large, Indra is large enough to tackle larger projects and be successful on international markets.

About Indra The company’s products are widely used in a variety of energy segments, including Oil & Gas, chemical, petrochemical, offshore and energy production.

Indra’s experience in understanding application requirements, combined with high flexibility, allows the company to develop customised solutions designed for specific customer needs.

While exports accounted for 10% of the company’s revenues in 2015,

Indra’s headquarters are in Magenta, within the Milan metropolitan area, from where the company supplies products to customers all over the world.

Story type

Key findings

#export (main category)

For industry

#culture #diversification #innovation

• Never give up. Pursue your target even if you meet obstacles • Learn from others – you are never experienced enough

Benefits • 10 new international clients in nine months • 100% increase in exports in four years

Energy transition lessons

Government support?

Indra has not received support from the Italian government.

• Adapt your product offering in order to benefit from energy transition opportunities

Indra at a glance: Key products and services: manufacturer of ball valves and interlocking manifolds Main industries served:

Export lessons • Have a good knowledge of your export markets, including regulations and laws • Be confident in your product’s quality

• Oil & Gas – 70% • Power – 30% Headquarters: Magenta, Italy Year established: 1987 Number of employees: 55 Revenue: €13m Revenue from exports: 20%

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Success stories

Inverroy Delivering Resilience Solutions

How is Inverroy thriving?

Inverroy hand picks team members with diverse backgrounds & skill sets and bolsters these with with further CPD & BCI training allowing Inverroy to consolidate its position as a fastgrowing player in emergency response, crisis management, business continuity, security and cybersecurity.

The company has been translating clients’ corporate policies into trainable and deliverable plans for operating on time and on budget in high-risk and complex environments.

The challenge Back in 2011, Inverroy’s Founder Matthew Wardner had been serving in the British Army for 27 years. He was due to move away from the UK when an old army friend approached him and suggested it was time for a change, that Matthew’s extensive experience in back-up plans and working in operation rooms could be a valuable asset outside the armed forces. It was suggested he could use his extensive army experience in the oil and gas sector.

The solution After initially working for two risk management consultancies, he felt he could do more. Using his army pension, in 2015 he decided to set up his own company and founded Inverroy Crisis Management. Adopting honesty, integrity and professionalism as the company’s core values, the company would work with clients and not just for them. In a world where risk is an inherent part of any operation, Inverroy’s goal would be to understand customers’ drivers and scope of work in order to best serve them.

As the company started to grow its client base, one of Inverroy’s key business opportunities involves Cairn Energy in Mexico, where the oil company started a drilling campaign in 2019. It took four years – from preliminary discussions to first order – to get their trust for a crucial contract: to write emergency response plans compliant with Mexican requirements in addition to the provision of training.

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Inverroy overcame many challenges to accomplish its contract on time.

To begin with, Mexico’s requirements for international companies were not very clear, as they were set up recently following the opening of the country’s oil and gas sector to private players.

The operator lacked understanding of those requirements as well as its ability to meet them all. In addition, Inverroy had to write emergency plans in a way that addressed all issues and satisfied

Success stories

all parties – Cairn Energy and Mexican regulators.

Following a 12-month process, Inverroy successfully delivered on its contract.

Emergency response plans passed assessment following their submission, with no impact to the schedule of Cairn’s drilling campaign. In addition, a strong relationship developed between personnel working at the rig and employees working in Mexico City and Edinburgh, ensuring that any emergency response will be carried out according to plan in case anything goes wrong.

Inverroy’s culture to go beyond the minimum on time and on budget while following the highest standards places the company on an accelerated growth path: while in 2018-19 the company earned £180,000, in the last financial year revenues rose to £505,000. Inverroy also knows the importance of giving back to society: all employees get five days of paid leave to carry out voluntary work of their choice, while 3% of the company’s operating profit is directed to charity. Inverroy also makes regular presentations at universities to discuss risk management from an industry perspective.

About Inverroy UK-based Inverroy Crisis Management was founded in 2015 with the goal of enhancing the resilience of companies in the Oil & Gas sector and assisting them in preparing for adversity. Their service focuses on enabling companies to do business wherever and whenever they choose by supporting them in four focus areas: emergency response, crisis management, business continuity, and security. Inverroy provides solutions through a delivery model that seeks to analyse the company’s vulnerabilities, design personalised solutions, build capability in the form of one-to-one and team trainings, and validate their created method by testing it in a safe but realistic environment.

Story type

Government support?

#service/solutions

In addition to government grants, the company has joined the Business Gateway Growth Pipeline initiative.

Benefits • Never turn down a coffee – learn the importance of networking.

• Reputation and referrals are often the best kinds of marketing.

Export lessons • Follow your clients around the globe • Increase staff as workload grows

Inverroy at a glance: Key products and services: risk management consultancy Main industries served: • Oil and Gas – 80% • Wind – 2% • Others – 18% Headquarters: Edinburgh, UK Year established: 2015 Number of employees: 5 (+7 parttime associates) Revenue: £505,000 Revenue from exports: 70%

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Success stories

KBR Growth mindset

How is KBR thriving?

KBR Project Solutions has built a unique team of talented, diverse and collaborative innovators. They are inspired by a growth mindset, adept at remote working and expert at smaller project engineering services across diversified markets, ranging from upstream and downstream to renewables and electric vehicles.

The challenge Since its formation in 2017, KBR Project Solutions has seen continued growth. Its successful performance was described in the third edition of the Survive and Thrive report, which presents an account of the company’s trajectory from concept to implementation, and its goal to collaborate with clients to provide smart solutions for a sustainable future.

In 2020, KBR Project Solutions has a new challenge: grow its revenues

by US$100m by 2023; become an international, multi-centered business; and lead KBR through the energy transition journey.

The solution KBR Project Solutions aims to achieve this goal by becoming the contractor of choice for existing clients and use its expertise to attract new customers in the oil and gas, alternative energy and digitalisation areas. Yet, what is paramount to KBR Project Solutions is staying true to its mission and values: development of people, remote working and leveraging smart solutions for a sustainable future.

KBR Project Solutions closely follows market trends and diversification plays a key role in the landscape of Project Solutions. This diversification process entails not just capabilities and client base, but also people, skills and working environments. KBR Project Solutions believes that businesses

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thrive and survive on the quality of their people. The company has a small core team and whilst the team is culturally, academically and gender diverse, they all hold one core belief that binds them together; and that is the importance of a growth mindset. Growth mindset allows the team to know that they can be better tomorrow than they were today, they can engage with new technology, be creative and deliver smarter solutions for their clients.

Remote working is a value that has taken a sudden increase in 2020 but has been a core value of KBR Project Solutions since before the pandemic hit in March 2020. Remote working is not a value specifically highlighted by many organisations but for this company it is key to the type of organisation they want to be. KBR Project Solutions values the diversity of its people and that diversity understands that traditional ways of working, traditional office scenarios and traditional approaches to the same problems will

Success stories

not create different results. To create better results, you must work and think differently and that is valued at KBR Project Solutions.

“Smart solutions” is something of a mantra at KBR Project Solutions.

The company is keen to work smarter and that includes creative thinking, engineering solutions and the application of digital technologies to improve project outcomes, certainty and reliability. KBR Project Solutions has applied its digitalisation capabilities to areas as diverse as creating numbering conventions for parts catalogues, virtual reality training and process simulations, application of AI tools to improve processes and management analytics through dashboards.

strong belief in a genuine peer to peer approach to business development.

The company has developed a unique culture which focuses on delivering solutions across highly diversified markets, sectors and technologies. As the future brings new objectives and challenges, especially regarding upand-coming energy transition market segments, KBR Project Solutions is ready to provide its services.

KBR Project Solutions has a winning formula for success: a growth mindset among its diverse team; agility, flexibility and collaboration with clients and a

KBR is a global provider of differentiated professional services and technologies. The company employs approximately 37,500 people worldwide, with customers in more than 80 countries, and operations in 40 countries. Operating across the asset and programme lifecycle KBR operates in the three synergistic global businesses of: Energy Solutions, Government Solutions and Technology Solutions.

KBR Project Solutions has core competencies which span engineering, computer science, energy transition as well as creative, forward thinkers, who collaborate and challenge the expected to deliver disruption and create a new normal at KBR. Started as a small start-up with no funding in 2017, KBR Project Solutions is a creative engineering environment where the use of innovative solutions to deliver results for clients is encouraged. This has included ideas such as BarBox ©, mobile app development for electric vehicle solutions, VR capability for training and process simulation, and automated engineering capability amongst others.

Story type

For industry

credits.

#transformation (main category)

• Don’t be siloed. Seek talented and diverse teams • Be inspired by disruption; adapt and leverage new opportunities • Global change will show that historic performance and norms cannot be relied upon

KBR at a glance:

For government

• Oil & Gas – 66% • Renewables - 17% • Digital Energy - 17%

#culture (x1.5) #diversification (x1.5) #collaboration #digital #energytransition #innovation #optimisation #service/solutions

Benefits • Growing business in energy transition market segments • Diverse and engaged teams delivering innovative solutions • Flexible and collaborative approach to client engagement

Key findings

About KBR

• Apprenticeship funding is important for increasing the number of teenagers getting into STEM careers • Government should support the growth of industry delivering on climate goals

Government support?

KBR has joined DIT trade delegations.

The company has also benefited from the Apprenticeship Levy and R&D tax

Key products and services: innovative engineered solutions for the energy sector Main industries served:

Headquarters: Houston, USA Year established: 2017 (KBR Project Solutions) Number of employees: 100 (KBR Project Solutions); 2,500 (KBR UK); 34,000 (KBR Global) Revenue: US$15m (KBR Project Solutions); US$5.6bn (KBR Global) Revenue from exports: 80%

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Success stories

McMenon Engineering Services Inspired by the past and motivated by the future

How is McMenon Engineering Services thriving?

McMenon’s decision to acquire ABB’s Workington business was a transformative one. Benefiting from a culture of collaborative trust, the recently created SME focuses on investing in product development, acquiring new certifications and exploring new markets.

The challenge In 2013, before the creation of McMenon Engineering Services, the company’s Workington facility was one of many ABB units. At the time working as the site’s General Manager, Anand Puthran remembers telling himself: this Workington business had excellent prospects to succeed as an independent entity. He moved on his career, but that idea lingered on his mind. A few years later, the downturn in the oil and gas industry posed a choice to Anand: continue working harder as an employee during those uncertain times or work for himself and make things happen?

The solution Naturally an entrepreneur, Anand chose the latter option. He set up McMenon Associates – a business that would invest in firms in need of a turnaround.

His long-term goal, however, was to acquire a business in full. An interesting thought came to him: what about the ABB Workington site he used to work at?

Anand did what any interested buyer would do: he called and asked if ABB

would sell its business unit. Several contacts were made and eventually Anand was able to discuss this opportunity with ABB’s M&A team.

ABB agreed with Anand’s proposition and, following a period of due diligence, ABB’s Workington site became McMenon Engineering Services. The acquisition was entirely funded by Anand and two minority shareholders, with no private equity involvement. The newly created company was nominated as ABB’s preferred supplier for differential pressure (DP) flow and temperature measurement equipment, which meant that ABB badged products are still manufactured in the Workington facility and sold globally. In parallel,

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McMenon’s own brand of products and engineering solutions are also gaining considerable market share globally with recent major successes in the US. Products manufactured in Workington are employed in nearly 60 countries worldwide.

Anand’s leadership proved vital in the creation of McMenon Engineering Services. He had to make sure that the transition from a large corporate owner to a start-up SME did not cause staff to fear the unknown. The newly created company held quarterly town meetings and presented successful case studies to bring everyone on board. Anand’s objective was to let employees know they were able to actively contribute to the business.

Success stories

Product development is a key part of McMenon’s recent journey. The company has invested in building up the site’s second-to-none welding capabilities, which now cater for higher specification projects, as well as new certifications, for example ISO 3834-2 and the AD 2000 HPO both secured after the acquisition.

This has allowed McMenon to sell more products and reach new markets. Moreover, the company has obtained an Analysis for Innovators (A4I) product development grant for 2 projects and six other self-funded projects are already underway.

horizons. An SME created in 2017, the company is inspired by the past and looks forward to the future. With significant international growth and efficient cost management, it’s no surprise that the value of the business has increased significantly.

About McMenon Engineering Services

McMenon Engineering Services is a truly unique business. While the site’s remit was narrow in the past, today it has a broad product development agenda to tackle industry challenges and new certifications to expand its

McMenon Engineering Services is a premium manufacturer and global distributor of differential pressure (DP) flow meters and temperature measurement products as well as a trusted partner for complete contract engineering and manufacturing services. The company’s main sector is oil and gas with increasing supply into other sectors including water, food & beverage, nuclear and renewables.

Story type

Key findings

#transformation (main category)

For industry

#collaboration #culture #optimisation

• Start early or later confront yourself with the question “why didn’t I do this sooner?”

• Entrepreneurship is not agedependent • SMEs with extensive know-how can take advantage of the energy transition process

Benefits • Product development and investment; international growth

McMenon’s Workington site has a 73-year track record of manufacturing industrial instrumentation. Starting out as a greenfield site owned by Fischer & Porter, the location was later transformed by ABB into a world-class facility for the design and manufacture of flow and temperature measurement products supplying products globally.

McMenon Engineering Services at a glance:

For government • Encourage investment in UK manufacturing • Don’t underestimate how fast UK companies can innovate and scaleup

Key products and services: manufacturer of flow and temperature measurement instrumentation Main industries served: • Downstream O&G – 95% • Others – 5% Headquarters: Workington, UK Year established: 2017 (for the acquisition of ABB’s Workington facility) Number of employees: 70 (67 in the UK) Revenue: £7m Revenue from exports: 85%

Government support?

McMenon Engineering Services has received an Analysis for Innovators (A4I) grant for product development.

The company has also benefited from R&D tax credits.

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Success stories

OGM Growth success

How is OGM thriving?

A leading metering and sampling OEM, the company has taken the chance to invest, engineer and diversify into the high-pressure and high-corrosion water injection market. Following a major recent contract in the Middle East, OGM is opening a wide pipeline of new growth opportunities.

The challenge Founded in 2012, OGM was created by its parent company OGH to provide engineered metering and sampling products for the oil and gas industry.

This was an ambitious goal, as the market already had well-established players in this segment with an extensive global coverage.

OGM invested in its own technologies – one for turbine metering and another for ultrasonic metering and eventually became an alternative to the status quo of the competition. This was not enough, however, as there were

segments in which the company had yet to enter.

The solution In 2018, OGM was presented with a game-changing opportunity to enter the niche segment of highpressure metering for water injection applications. In that year, a large Middle East based company was awarded an EPC contract by large oil and gas company in the Region. The contract called for the use of high-pressure metering technology with high-end materials and stringent equipment accuracies.

OGM became aware of this EPC contract and set to work. The company saw this was a challenging requirement and analysed the situation, concluding the metering scope required by the project would be a natural extension of their activities. After conducting some engineering work and addressing supply chain gaps, OGM approached

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CPECC and assured them that they would be capable of meeting the project’s technical scope within the tight schedule required.

Following a disputed tender process with traditional players, OGM’s company Metering & Technology (M&T) emerged as the winning bidder for the supply of large amount (over hundred) helical turbine flow meters to the EPC. The company placed a strategic bid knowing that this project would open up more opportunities in this highend segment. This order required OGM, responsible for manufacturing the equipment in the UK, to design, engineer, supply and calibrate the meters from scratch.

OGM’s foray into the niche highpressure metering segment for the water injection market has allowed continued growth. The contract for the project catapulted OGM into the competitive water injection market in the Middle East and served as a proof that the company’s commercial model

Success stories

and technology compete with wellestablished players.

About OGM Oil & Gas Measurement (OGM) provides the highest quality metering and sampling products for oil & gas custody transfer applications. In addition to catalogue products, the company supplies turnkey systems providing hydrocarbon analysis and flow metering for both liquid and gas streams. Its expertise includes fiscal metering, custody transfer as well as online and offline analysis.

OGM also offers front-end consultancy, prototyping, in-house testing and accompanies these services with cutting-edge scientific research.

Staffed by a wholly independent team of engineers and scientists, OGM provides products to meet both the current and future needs of the petrochemical industries.

Story type

Key findings

OGM at a glance:

# diversification (main category)

For industry

Key products and services: metering and sampling products for oil and gas custody transfer applications

# innovation

• Keep your options open • Develop parallel applications for your technology – it will make your business plan much more solid

Benefits • Penetrate new equipment segment

Main industries served: • Midstream – 85% • Downstream – 15%

For government • Promote UK capabilities in oil and gas sampling

Headquarters: Ely, UK Year established: 2012 Number of employees: 50 (43 in the UK) Revenue: £2.5m

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Success stories

Osbit Successful growth through powerful culture

How is Osbit thriving?

The company’s powerful culture and unique network-based organisation structure is central to their successful growth story. Osbit has created better bespoke modular solutions for clients in the oil and gas and renewables sectors, ensuring a higher percentage of repeat business with closer relationships, and an authentic, fun and collaborative problem-solving mindset.

The challenge The definition of a business’ success is usually expressed objectively.

Growing revenues, higher margins and increased productivity are all well-defined goals which fit easily in an Excel spreadsheet. But is success always measured in hard numbers?

Which subjective factors can be equally important for a company to be considered successful?

The solution Started 10 years ago by the initiative of four partners, Osbit has been a different company from the outset.

Instead of selling products, Osbit develops modular technology to meet industry challenges. The company’s

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approach consists in understanding clients’ problems and collaborate with them to develop the best bespoke solutions to fit their needs.

Indeed, Osbit is invested in building relationships with clients that are loyal and genuine.

Underpinning all this is Osbit’s culture.

From the outset, the company has prided themselves on trying to recruit the best and most intelligent and driven teams. Osbit focuses on empowering people to take responsibility and think about problems differently. Indeed, the company’s learning and teaching culture encourages new ideas and

Success stories

unlocks innovation. Osbit values a teamwork environment that boosts personal development but is also authentic, fun and enjoyable for its employees.

Understanding problems and building relationships is a key Osbit skill. In 2019, the Global Marine Group (GMG) approached the company with a subsea boulder problem linked to cable installation work for an offshore wind farm. Osbit wanted to get a full understanding of the problem to consider a solution and suggested speaking to GMG’s client Vattenfall.

The idea was welcomed by GMG, and Osbit had the opportunity to run an insight session with both client and end-client.

This turned out to be a great suggestion. The meeting marked the beginning of a trust relationship between the three companies and eventually led to a £5m contract award to Osbit. Four months after contract signing, the company delivered an innovative boulder clearance plough for GMG. Osbit developed a solution

Story type

capable of clearing the way for subsea cables as well as backfilling over the cable afterwards, enabling savings of £3m to the client. After trials in the second half of 2019, the plough has been certified and is currently being used at the project site.

Getting clients involved in problemsolving and earning their trust is key to Osbit’s success. The company’s culture of establishing loyal and genuine relationships has been central to the company’s growth strategy: while in 2012 the company earned £1.2m, in 2019 revenues hit £18.5m – with approximately 80% coming from repeat orders. Osbit’s achievements are not limited to financials, however. The company knows that its culture, working environment and relationships are equally important for their success.

Benefits • £5m contract award • High percentage of repeat orders

Key findings For industry

Osbit’s MaXccess range of walk-towork systems provides simple and cost-effective access for various vessel types and sizes. The company excels at translating client requirements into viable concepts and commissioned systems, all delivered On Spec, to Budget and In Time - OSBIT.

About Osbit Osbit specialises in tailored equipment as well as engineering services to a range of clients across the energy sector, from operators and installation

Osbit at a glance:

For government

#culture (main category) #collaboration #innovation #technology

contractors to product and equipment manufacturers. The company’s expertise encompasses the design and manufacture of subsea vehicles and back-deck equipment for pipelay and trenching operations, the supply of safe and reliable vehicle handling systems and offshore access systems.

• Following Brexit, actions are needed to enable the supply chain to accelerate and flourish in an increasingly competitive market environment

Government support?

Osbit has benefited from the Apprenticeship Levy, R&D tax credits and DIT trade delegations. The company has also received a grant from the Rural Growth Network for the expansion of its office.

Key products and services: design, engineering and construction services Main industries served: • Upstream O&G – 60% • Offshore wind – 40% Headquarters: Riding Mill, UK Year established: 2010 Number of employees: 110 Revenue: £18.5m Revenue from exports: 70%

• Be authentic, open to ideas and brave • Give yourself permission to make mistakes

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Success stories

Oxford Flow Disruptive technology in action

How is Oxford Flow thriving?

Despite the global COVID-19 crisis, and the downturn in the oil and gas sector, Oxford Flow has remained buoyant. This is largely down to its diverse portfolio and a steady interest in operators seeking cost reductions and efficiency. The company’s IP-series pressure regulating valve, a proven solution for the water industry due to its superior performance, and ease of installation and maintenance, is now being successfully applied in the gas distribution segment (IM series), with 70% of lifecycle cost savings compared to traditional regulating valves.

The challenge A key concern faced by gas distribution companies is to reduce maintenance costs and improve performance. These companies struggle with a consolidated supplier market which does not provide pressure control innovations at a hopedfor pace. A solution was needed to improve reliability and reduce operating costs.

The solution Oxford Flow was founded to solve industry challenges with innovative, problem-solving products. Created at Oxford University with investment from Oxford Sciences Innovation (OSI), the company was formed to answer accuracy issues arising from research on gas turbines. Testing needed carefully controlled heated airflow in addition to controlled inlet pressure, which required more accurate valves.

Design work on a new type of pressure regulator started ten years ago, leading to the launch of Oxford Flow in 2015.

The company’s new high-pressure regulator was accurate and compact, proving a commercial success after launch.

Oxford Flow then started to look at polymers for its regulator as the water industry was already moving away from brass and other metals due to corrosion and other water quality

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issues. The company’s diaphragm-free polymer regulator is up to nine times smaller and lighter than traditional designs, which allows manual installation without any cranage.

Performance is also better than conventional diaphragm valves, as the regulators more accurate control prevents and reduces leakage within water networks. Within nine months, Oxford Flow’s innovative polymer pressure regulator was certified and commercialised in the water segment.

After its success in the water business, Oxford Flow was eager to diversify into the gas distribution market. The company engaged with Scotia Gas Networks (SGN), a UK-based gas distribution company, as part of an industry-wide innovation project.

Regulators were again identified as an issue as SGN devoted too much maintenance to them while experiencing a lack of competitivity

Success stories

and innovation in the supply chain.

Following the successful completion of the project, including extended field trials in SGN’s network, Oxford Flow was able to launch in February 2020 its new IM-series gas regulator for operators in the gas distribution, power generation, industrial gases and oil and gas sectors. The IM valve showed evidence of increased reliability compared to traditional gas regulators.

The increase in reliability can result in up to 70% life-cycle cost reduction over a 25 year period, which for UK gas networks has the potential to save them several million pounds per year if they were to change out all their current regulators due to reduced installation and maintenance costs.

strategic investment in Oxford Flow which included the exclusive rights to manufacture the polymer water valve for all markets and to sell all Oxford Flow products into the utility and waste water sector. Following another capital raise from both existing and new investors, Oxford Flow looks set to grow and consolidate its diversification into the oil and gas sector, where it will shortly be launching its new stemless actuated axial flow valve, which eliminates the failure modes and fugitive emissions associated with existing valves.

About Oxford Flow

Oxford Flow’s disruptive technology is paying dividends for the company as it prepares to tap into opportunities within the UK and beyond globally. After sales of just under £300,000 in 2019, the company expects its revenues to grow rapidly in 2020 and to exceed £10m within 2 -3 years. In 2020, Switzerlandbased Georg Fischer (GF) made a

Created in 2015, Oxford Flow designs and manufactures innovative pressure control equipment using technology developed at Oxford University. Their main products are the pressure reducing valves (PRVs) and gas pressure regulators, which were engineered to be smaller and lighter than competing technology and can significantly reduce costs for the Energy, Water and Process industries.

Story type

For government

Oxford Flow at a glance:

#disruptivetechnology (main category)

• The UK is a world leader in innovation. Companies just need support to scale up.

Key products and services: manufacturer of pressure regulating valves , On/Off valves & flow control valves

#diversification #innovation

Benefits • Long term saving of millions of pounds to gas networks in reduced service and maintenance costs

Key findings

Government support?

The company has received funding from Innovate UK as well as R&D tax credits.

Energy transition lessons

For industry • Try and get as many people with relevant experience in as soon as you can. Don’t ‘reinvent the wheel’.

• Use expert consultants to boost industry knowledge

• Invest in products in that help reduce emissions

Main industries served: • Water utilities • Gas distribution • Oil & Gas Headquarters: Oxford, UK Year established: 2015 Number of employees: 30 (28 in the UK) Revenue: just under £300,000 (2019) Revenue from exports: 80%

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Success stories

Quanta Trust, results, unity and excellence

How is Quanta thriving?

Following a tenacious turnaround leadership by CEO Nick Oates, Quanta is delivering fast growth, exports, diversification and a genuine ‘one team’ client and team collaboration approach driven by our true values: trust, results, unity and excellence (TRUE).

The challenge Being part of a large corporation sometimes can offer pros and cons to a smaller dynaic organisation.

Depending on the group priorities and renewable energy strategies, a business can find itself supporting an hydrocarbon focused industry and be limited to certain servies and geographies which result in restrictions in achieving its full potentialHow could a company be transformed from lossmaking to profitable and thrive during the downturn?

The solution In 2016, Nick Oates was hired as CEO with the purpose of turning around Quanta, which at the time was known as Fabricom Offshore Services. In just eighteen months the company’s finances were completely transformed: he was able to increase revenues from £4m to £15m and transform a £1m loss into a £1.5m profit.

allowed targeted and smart growth diversification both in services and geographies.

However, it was a management buyout (MBO) by Nick Oates in 2018 that brought a complete transformation to the company. That year, Fabricom Offshore Services underwent a rebranding process and relaunched as Quanta. This process brought in further agility, lean delivery and a dynamic independent approach. The MBO has

The transformation into Quanta also involved the introduction of new values. After all, a new company had been formed and a fresh mindset was required. Following the MBO, the senior management team worked on what was important to the company and came up with several themes, which were distilled to four ‘true

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values’: trust, results, unity and excellence (TRUE).

One of Quanta’s opportunities to put its TRUE values into action came with a contract with Centrica. Thanks to a well-executed previous job with the operator, Quanta secured a significant contract in 2019 to help Centrica reduce OPEX and avoid unplanned costs by carrying out decommissioning services associated with the ‘cold stack’ campaign of the 47/8A fixed

Success stories

About Quanta

outcomes to ensure the contract was completed successfully. Despite challenges, risks were turned into opportunities as all parties worked together to achieve the right outcome.

Quanta delivers end-to-end engineering, procurement and construction services to the energy industry, covering the full life cycle of clients’ assets from concept to decommissioning. The company’s capabilities include brownfield modifications, flowlines and tiebacks, life extension and decommissioning and underground gas storage, among other areas.

The contract was well executed on budget and on schedule and earned praise from Centrica. Adopting a ‘oneteam’ approach, Quanta, Centrica and other contractors all worked together – under Quanta’s leadership.

This collaboration involved a series of townhall meetings, aligned and clear

Quanta’s turnaround has been very successful. In addition to the rapid increase in revenues and transformation of losses into profits, a high-quality, flexible and cost-effective business model has allowed the company to boost exports, growth and diversification – all made possible

by Quanta’s TRUE values and the company’s one-team culture.

Quanta traces its origins from 1988, when it was known as Techmac Barton. The company was acquired

by Fabricom in 1999, which was then acquired by GDF Suez (currently Engie). After a time operating as Fabricom Offshore Services, the company was rebranded as Quanta following a management buyout in 2018.

Story type

For government

Quanta at a glance:

#collaboration (main category)

• The government must step up efforts to promote UK capabilities • There must be a realistic view of what is achievable regarding the energy transition as well as a roadmap to achieve it • Local content is used in other countries, why not do the same?

Key products and services: engineering, procurement and construction services

platform. Services included the installation of navigation aids, swapping the DCS system to the nearby Bravo platform, cutting of bridge services as well as the installation of PV panels to provide lighting to the platform’s helideck, among other services.

#optimisation #culture #service/solutions

Benefits • £2m contract award

Key findings For industry • Turn all risks into opportunities • “One willing worker is worth ten pressed men”. People are naturally resistant to change, so it is necessary to listen and understand their concerns to get them on board.

Government support?

The company has received R&D tax credits and benefits from the Apprenticeship Levy.

Export lessons

Main industries served: • Upstream O&G – 50% • Mid/downstream – 30% • Power – 10% • Industrial/infrastructure – 10% Headquarters: Cramlington, UK Year established: 1988 (as Techmac Barton) Number of employees: 100 Revenue: £15m Revenue from exports: 5–10%

• Expansions must be client-led wherever possible

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rhi Supporting decision-making

How is rhi thriving?

A global leader in project services for the energy industry, rhi’s close collaboration with a client over the last five years has enabled the creation of huge value using smart digital innovation at scale.

The challenge rhi was awarded a contract by a joint venture comprised of major operators and a local partner, for a mega project in Central Asia. The contract for quantity surveying and construction cost consultancy work related to a development to increase the capacity of an onshore oil field. rhi used its rhicoms system to

manage the complex pre-contract tender process by providing standard schedules of rates and quantity models to contractors to price against.

In addition, rhi provided estimate assurance on major construction packages. In the post contract award phase, rhi continued its commercial support for progress and quanity measurement and evaluation of changes. As the work progressed the amount of data significantly increased due to the scale of the project. rhi realised it was important to improve efficiency, in order to maintain the work schedule.

The solution In 2015, rhi started an efficiency drive

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to automate the process of measuring the “approved for construction” engineering drawings to reduce the time involved in agreeing pricing with the fabrication contractors. In a project of this scale, thousands of engineering design deliverables are produced which must be translated into data to support the contract pricing and valuation structure. This exercise enables the client to agree the value of work done, providing predictability in cash flow and a basis for cost forecasting. rhi decided to pursue a digital strategy to allow the automated extraction of construction quantities from the engineering deliverables into its rhicoms system as opposed to a manual process. This was a long-standing rhi ambition, and the contract was of a scale that made

Success stories

it the ideal opportunity to implement an automated solution.

It was key to the success of the development an automated solution to have the client’s support and collaboration from the engineering design team. The benefit of an automated solution was clear – it would reduce cost and time – however it implementation relied on careful planning and cooperation. This was only possible due to the close working relationship built over many years with the client who placed trust and confidence in rhi’s ability to deliver.

This challenge was significant given the scale of the data and the requirement to introduce it to a live project. rhi’s commitment to introduce this new tool was a great example of collaboration and scale up of a digital solution. The company was able to provide assurance for the project’s budgeting process by providing timely, reliable and accurate cost information for client’s reporting and decision-making. The development of the rhicoms application to include automated measure allowed the service to be completed with a 30% decrease in man hours over a conventional

approach, enabling rhi to meet schedule milestones and reducing the cost of the service by several million dollars over the course of the project. rhi’s continues to embrace close client collaboration to and the development of digital solutions to bring efficiencies to its clients.

About rhi With origins tracing back to the late 19th century, rhi, formerly rider hunt international, is an experienced partner for clients to support their decisionmaking in construction cost and quantity surveying in the energy sector.

The company is focused on developing responsive, lean and technologyenabled solutions and ensuring that it continues to develop its staff, project data and systems to best serve client’s needs. In 2008, rhi was acquired by Amec Foster Wheeler – which itself was acquired and merged with the Wood Group in 2018 to form Wood.

Story type

Key findings

rhi at a glance:

#collaboration (main category) #optimisation (main category)

For industry

Key products and services: professional services consultancy

#digital

Benefits • Several million USD of cost savings due to fewer hours booked

• Reputation is built by delivering • It’s good to envisage complex and large solutions, but clients appreciate simple things done well • Relationships are key – know your client, know your business.

For government • The role of the UK supply chain must be reinvigorated vis-à-vis competition from other countries

Main industries served: • Upstream O&G – 70% • LNG – 20% • Others – 10% Headquarters: Aberdeen, UK Year established: 1970 (in the energy business) Number of employees: 125 (35 in the UK) Revenue: US$57m (US$30m in the UK) Revenue from exports: 50%

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Success stories

Risktec Solutions Virtually unanimous customer satisfaction

How is Risktec Solutions thriving?

Risktec has grown from scratch to become one of the world’s largest and most respected independent providers of risk and safety management services. The company is diversified across sectors, regions, services and resources and this has been fundamental in ensuring it has grown steadily despite all the challenges encountered over the last 20 years.

The challenge Founded in 2001, Risktec experienced its third major challenge during the 2015-16 downturn in oil prices. At the time the oil and gas sector accounted for 50% of the company’s business and the majority of opportunities overseas. Risktec experienced a 25% reduction in O&G sales in 2016 and needed to react fast.

The solution As a risk management consultancy, Risktec not surprisingly knew from day one that diversification was crucial. The company had experience of seeing competitors with an ‘all eggs in one basket’ mindset which did extremely well in the good times and then failed spectacularly when the market turned. Risktec promptly accelerated its five-year business plan to deliver geographic, sector and product expansion, while never losing sight of its high-quality work and focus on clients.

Indeed, high-quality work is a Risktec trademark. It is the company’s culture of empowerment, teamwork, integrity and the search for solutions that sets Risktec apart from competitors, enabling the company to achieve a

99.6% recommendation rate among clients.

One example of Risktec’s highperforming culture can be found in its relationship with Shell. In 2013, the oil major awarded Risktec an enterprise framework agreement (EFA) in technical safety engineering and risk consulting – one of six global contracts for this segment. Feedback on the services provided was obtained through country

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surveys, which consistently rated Risktec very highly. A new tender for this contract took place in 2019, with Shell narrowing down providers from six to just three. Once again Risktec was chosen for the contract and the company continues to support Shell wherever they operate in the world.

Culture is at the heart of the success.

Within Risktec it is natural to trust and empower employees to do

Success stories

About Risktec Solutions

the right things. Indeed, this is why the company has been profitable every year since its foundation, together with a 97% overall customer satisfaction. Every consultancy will say it has the best people and in truth they may all be good technical people, but the key differentiator between consultancies is the culture

of the organisation, made visible by how the company works with clients.

Ease of doing business, flexibility and a responsive attitude allied to truly listening to and understanding clients’ needs have been the key at Risktec to building trust and paving the way for long-term and sustainable relationships.

Story type

Key findings

#service/solutions (main category)

For industry

#diversification #culture

• Diversification of markets, services and resources is fundamental to build a sustainable and profitable business • Focus on your clients’ needs and always be responsive and flexible • Adopt a proactive, positive and adaptable approach to changing market conditions

Benefits • Successful diversification of company’s sectors, clients and services • 97% overall customer satisfaction • Profitable every year since foundation

Risktec is an independent and specialist risk management consulting and training company, owned by the TÜV Rheinland Group. The company helps clients to manage health, safety, security, environmental and business risks in sectors where the impact of loss is high. Risktec is guided by four values: Empowerment, Teamwork, Integrity and Solutions, and believes in an open and trusting working environment amongst its 300 employees. Formed in 2001, Risktec has its headquarters in the UK, as well as offices in other parts of Europe, the Middle East, Southeast Asia and North America.

Risktec Solutions at a glance:

For government • Government support can feel indirect and vague to many companies.

Greater effort is needed to promote how companies benefit from tangible government actions

Government support?

Key products and services: Independent risk and safety management consulting and training services Main industries served: • Oil, gas and chemical – 54% • Nuclear (civil and defence) – 26% • Rail – 14% • Conventional power – 2% • Clean energy – 2% • Other – 2% Headquarters: Warrington, UK Year established: 2001 Number of employees: 300 (200 in the UK) Revenue: £37m (£25m in the UK) Revenue from exports: 32%

Risktec has obtained export and knowledge transfer (KTP) grants in the past and will be accessing R&D tax credits.

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Success stories

Roxtec Diversification as a driving force

How is Roxtec thriving?

Thinking ahead, the cable and pipe sealing expert implemented a welldefined strategy to de-risk its largely marine and oil and gas solution business by diversifying in structured and agile ways across multiple sectors and regions including rail infrastructure in the UK, with impressive results.

The challenge Approximately 6-7 years ago, Roxtec’s business in the UK was largely centered around sectors that are highly susceptible to volatility in oil prices: oil and gas and marine. The two markets accounted for more than 80% of the company’s revenues, which posed a substantial risk in times of crisis.

The solution When the current Managing Director of Roxtec Limited, Clive Sharp, joined the company in 2014, he felt that new strategies were needed to minimise the impact of the downturn in the oil and gas industry. Following an exercise by the headquarters in Sweden in conjunction with its subsidiaries to identify potential growth areas and set sales objectives, Roxtec decided to focus on three main business areas: marine and offshore; power and process industries; and industry and infrastructure.

Regarding industry and infrastructure, Clive decided that Roxtec in the UK would pursue objectives in four segments: rail infrastructure, rolling stock, data centres and advanced facilities. Getting clients in a new sector was challenging, as they didn’t know the company. The company solved this problem by organising accredited seminars to educate the market on

its solutions for different sectors and geographical regions.

A key example of Roxtec’s diversification is the company’s involvement in the rail infrastructure segment. They had the opportunity to engage with Bombardier, which in

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2017 was experiencing rolling stock production issues. They developed a focused offer based on tailored solutions to fix issues involving cable retention, cable seals on HV inlets located on the roof of carriages as well as inter-carriage jumper cables.

The company obtained a £40,000

Success stories

contract with Bombardier for the design, manufacturing and testing of cable seals and, thanks to evolving trust between the two companies, the contract is now worth £1m.

Their strategy to diversify into other business segments has been successful. While oil and gas and marine remain important sectors for the company, accounting for approximately 47% of revenues, including sectors such as infrastructure, power generation and process industries have a much larger share of the business. Roxtec’s diversification has delivered profitable growth and made the company much more prepared to withstand downturns in the oil and gas industry.

at sea and underground, and can prevent damage from water, fire, sand, gas, dust and dirt, as well as protect against explosion, lightning strikes, pull-out, noise and vibration. With a strong diversification of markets and regions, Roxtec believes in delivering a service built in co-operation with its clients and does so with the help of over 750 employees spread across Europe, North and South America, Middle East and Asia-Pacific.

About Roxtec Roxtec is a cable and pipe sealing expert, offering solutions for a wide range of applications within many different industries, including Oil & Gas, Construction, Power Generation Transmission and Distribution and Marine, among others. The company’s safety products can be found on land,

Story type #diversification (main category)

Benefits • Successful diversification from O&G to other industry segments • Ongoing £1m contract with Bombardier

Roxtec at a glance:

For government • Consistency with policy and funding is needed when it comes to climate change commitments

Key products and services: manufacturer of cable and pipe sealing solutions Main industries served:

Government support?

Roxtec in the UK has received R&D tax credits in the past.

Key findings

• Marine – 39% • Infrastructure – 20% • Power Generation – 13% • Process Industries – 10% • Offshore Oil & Gas – 8% • Industrial – 8%

For industry • Don’t put all your eggs in one basket. Diversify across market sectors and geographical regions.

Headquarters: Karlskrona, Sweden Year established: 1990 Number of employees: 750 (21 in the UK) Revenue: £173m (£6.1m in the UK) Revenue from exports: 95%

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Success stories

Serimax No compromise on quality and skills

How is Serimax thriving?

The company’s long-standing reputation for high-quality services allied to a culture of safety and continuous improvement has helped consolidate Serimax’s position as a pipeline welding and fabrication expert.

The challenge Serimax started as a small company in the Highlands. From its early days as Serimer until its merger with Umax in 2006 to create the present-day company, they built a strong reputation of getting the job done. Its business performance and high-quality work drew the attention of the industry, which saw a trusted partner in Serimax.

Adverse market conditions presented a challenge to the company. Business was tough in terms of price and costs, while some companies decided they could do welding work themselves.

Meanwhile, companies were faced with the difficult decision to make staff redundant. Would Serimax still be able to maintain its high-quality work and retain staff during the downturn?

The solution The oil and gas industry was battling a severe crisis, but Serimax was still able to maintain steady levels of profitability despite lower revenues.

The company took this opportunity to focus on operational efficiency, more importantly, invested in its workforce by funnelling profits back into training and personnel development. This foresight has allowed Serimax the opportunity to react to the market recovery quickly and effectively,

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Success stories

ramping up operations to meet the current rise in demand.

A focus on people, skills and quality is the key to Serimax’s success.

The company believes that quality is a product of training, a sustained apprentice programme, internal promotion and supporting employees to exceed. With 147 new starts in 2019 a third of which are under 25, the company has invested in over 5,200 hours of operational and transferable skills training.

Serimax’s reputation is reflected in business opportunities. In one occasion, the company was called thanks to a referral – to help in a project which had failed welding inspections six times. The company was able to get it right in the first time, without any defects. In another project, Serimax trained and upskilled a client’s local workforce in the Middle East and changed their repair rate from 80% to less than 1%.

gas downturn. Despite weak market conditions, the company delivered 19% growth in revenue to £17.8m between 2017–18. In the following financial year, the company presented 130% growth with revenues exceeding £40m.

Looking forward, Serimax plans to continue developing and maintaining current day-to-day business relationships and extend reach and penetration within its client base to serving customers in new regions, while supplying a wider range of products and services and leverage relationships to target new market sectors.

About Serimax

Serimax’s high-quality has helped the company overcome the oil and

Serimax is a specialised welding company offering a range of services to support industry demands from basic to sophisticated welding parameters.

With an experiencing spanning more than 40 years, the company offers specialist expertise in fully integrated welding, fabrication, engineering, technology, field joint coating,

Story type

For government

#service/solutions (main category) #optimisation #culture

Benefits • 130% revenue growth in 2019

Government support?

In addition to R&D tax credits, the company benefits from the Apprenticeship Levy.

For industry • Focus on your skillsets and become a reference in your segment • Business is about people - get the right balance in your team • Listen to customers and learn what they want

Operating in the most extreme conditions and challenging environments, Serimax support these market sectors in all welding applications from deep, ultradeep (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.

Serimax at a glance:

• There is an opportunity for the UK to lead in hydrogen, a key energy transition enabler

Key findings

nuclear, inspection, training, research & development and full project management services.

Key products and services: welding and fabrication services Main industries served: Oil & Gas – 98% • Other – 2% Headquarters: Roissy, France – Regional headquarters, Evanton, Ross-shire Year established: 1991 Number of employees: 280 (Serimax NEU) NEU (Northern Europe) Revenue: £42m Revenue from exports: 30%

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Success stories

SPP Pumps ‘One team’ processes delivering excellence to clients

How is SPP Pumps thriving?

The company’s award-winning learning culture is at the heart of their turnaround story. SPP Pumps has transformed pump packaging projects into a stage-gate process, providing improvements in cost, cash flow and velocity with enhanced “one-team” sales-projects-engineering processes.

The challenge A company heavily dependent on the oil and gas industry, SPP Pumps was massively impacted during the downturn. While in 2014 the company earned more than £65m, the following

year saw revenues fall to £45m. As business opportunities dwindled, stocks were reduced and redundancies were inevitable.

The solution In 2018, SPP Pumps decided it would go back to basics. The company would focus on cash generation, margin improvement and cost control to overcome the downturn. A closer interface with suppliers, engineering teams and clients would ensure that jobs were executed and delivered efficiently, avoiding delays and late or unforeseen costs.

In order to achieve these goals, SPP

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Pumps implemented a six-stage gate process. This project management system calls for initiatives to be divided into different stages, separated by decision milestones known as gates.

In SPP’s experience, stage six – the review stage became one of the most important, as it provided lessons which were fed back into all business areas.

The six-stage review system and the lessons learned during the process were key to transform SPP Pumps.

They made possible a 15% margin improvement over 18 months and allowed a reduction of engineering cycles by six to eight weeks. The order closing-out process is much

Success stories

faster, with final documentation sent out for approval soon after the order is shipped.

One of SPP Pumps’ greatest improvements, however, is not related to hard sales numbers.

The six-stage process created a much more integrated team, with different departments working together to achieve a common goal.

Comprehensive contract reviews made teams more engaged, which turned the work environment lighter but more challenging and enjoyable.

It’s no surprise that SPP Pumps improved its staff retention rates by 50%.

to add value to clients with excellent service and performance while empowering the team. While the company’s new project management system allowed greater control of costs and cash (something crucial in a highly competitive and commoditised market), internal teams became integrated and engaged, paving the way for SPP Pumps’ continued success.

In conclusion, SPP Pumps’ key learning was that it is fundamental

For more than 130 years SPP Pumps has been a leading manufacturer of centrifugal pumps and associated systems. The company is active in the design, supply and servicing of pumps, fire pump packages and equipment for a wide range of

applications and industry sectors, including oil & gas, water and wastewater treatment, power generation, construction and mines and large industrial plants. With over 500 staff worldwide, SPP Pumps main research and development (R&D), pump manufacturing and test facilities are centrally located in a modern purpose-built UK facility, whilst local sites operate in the USA, France, South Africa, Singapore and Dubai.

Story type

Key findings

Export lessons

#optimisation (main category)

For industry

#transformation #culture

• Understand that projects have a long gestational period and “keep faith” during the whole process • Early engagement is key to avoid delays and costs • Cost control and margin improvement is fundamental in a competitive and commoditized market

• Find the most suitable business partners in new export markets • Networking and market intelligence are essential resources to boost exports

Benefits • 15% margin improvement over 18 months • 100% of post-contract reviews • 50% improvement in staff retention

About SPP Pumps

SPP Pumps at a glance: Key products and services: design, manufacture and supply of centrifugal pump solutions

For government

Main industries served:

• Projects supported by UK Export Finance (UKEF) should have more visibility • DIT should be more accessible and provide better advice to UK exporters • The Oil & Gas industry must be seen as part of the solution, not the problem

• Oil and Gas – 50% • Industrial fire protection – 24% • Water, general industrial – 16% • Other – 10%

Government support?

Headquarters: Coleford, UK Year established: 1875 (acquired by Kiroslar in 2003) Number of employees: 305 (285 in the UK) Revenue: £52m Revenue from exports: 70%

SPP benefits from the Apprenticeship Levy and has received R&D tax credits.

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Success stories

STATS Group Export success

How is STATS Group thriving?

STATS problem-solving culture and fast response to clients, allied with a strategy of localised, full-scope business, has been instrumental in the company’s success in international markets. In particular, the company’s patented BISEP® technology, providing leak-tight double block and bleed isolation of pressurised pipelines, has been very well received by clients in the competitive US oil and gas market.

The challenge Today’s dynamic markets always challenge the energy supply chain to get out of its comfort zone. From entering new markets to developing new technologies and products, suppliers of goods and services are constantly prompted to stay ahead of the game – and survive in times of crisis.

The solution Things are no different for the STATS Group. Setting up a local presence in major markets is a key strategy for the company, which understands the importance of having its people and equipment close to customers to respond quickly and in a costeffective manner in meeting their safety critical demands. In 2012, following an investment from the Business Growth Fund, the company made the bold decision to open full-scope businesses in several countries, invest in staff training and new tools. STATS didn’t escape the impact of the 2014-15 downturn in the oil and gas market, but the company managed to withstand the crisis thanks to its great people and proprietary technologies.

A key STATS advantage is a unique, industry leading solution for temporary pipeline plugging. Dubbed ‘BISEP’, this patented technology provides a fail-safe double block and bleed isolation deployed through a single full-bore hot tap intervention, without the need for additional hot tapped bleed or vent ports. This solution offers significant safety advantages over traditional line stop technologies, with the hydraulically activated dual seals providing leak-tight isolation of live,

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pressurised pipelines.

In 2014, the BISEP technology allowed STATS the opportunity to be part of a world-first project with Kinder Morgan.

The midstream player awarded a contract to STATS to provide hot tapping and plugging operations at multiple locations on a high-pressure, large diameter CO2 pipeline in New Mexico. The aim of the project was to install full bore inline valves and retrofit pigging launchers and receivers into

Success stories

the pipeline system. Thanks to the BISEP technology, STATS was able to safely and efficiently perform the world’s first leak-tight double block and bleed isolation of a high-pressure CO2 pipeline system.

STATS experience with Kinder Morgan kickstarted the company’s activities in the US. The company reopened its facility in Houston after closing it in the wake of the 2007-8 financial crisis.

Despite challenging market conditions, the company held its nerve and succeeded: STATS today has over 10 key clients in the United States using the company’s proprietary technology, generating more than US$10m of revenues in 2019.

STATS experience of international expansion would see additional

chapters. In 2018, the company took export credit finance for a major isolation remediation project at a refinery in the UAE. The eight-month, US$20m contract is STATS largest project ever. In 2020, the company announced further expansion in the middle east region, expanding its operational facility in Abu Dhabi and opening a new workshop, storage and testing base in Muscat, Oman.

STATS ability to solve problems backed up by technology is the key reason for its success in export markets. Despite current headwinds in the oil and gas market, STATS is optimistic about its future opportunities: there are millions of kilometres of pipelines across the world, serving a key purpose in long-term supply agreements. The company is ready to apply its leading technologies whenever and wherever they are required.

About STATS Group STATS Group are market leaders in the supply of pressurised pipeline isolation, hot tapping and plugging services to the global oil, gas and petrochemical industries. Their primary services are isolation of hydrocarbon piping and pipelines, as well as a

Story type

Key findings

#export (main category)

For industry

#technology (2x) #service/solutions (2x)

• Resilience is key

#culture

Benefits • Successful entry in the US market • US$20m contract in the UAE

range of hot tapping, plugging and localised hydrostatic weld testing.

The company has its own proprietary technology, such as their DNV GL type approved BISEP and Tecno Plug® tools, which provide leak-tight double block isolation to enable the safe and efficient maintenance and repair of onshore, topsides and subsea pipeline infrastructure. STATS Group’s vision is centred on providing specialist tools and technology services for a safer oil and gas industry. With over 240 employees across the world, the company is headquartered in Aberdeen with operational sites in Canada, Malaysia, Qatar, the USA and the UAE.

STATS Group at a glance: Key products and services: engineered solutions for the oil and gas industry

Government support?

STATS received support from UK Export Finance (UKEF) in 2018. The company has also benefited from the Apprenticeship Levy and R&D tax credits.

Main industries served: • Oil and gas – 100% Headquarters: Aberdeen, UK Year established: 1998 Number of employees: 245 (140 in the UK) Revenue: £39.5m Revenue from exports: 80%

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Tube Tech International Transformed culture driving business growth

How is Tube Tech thriving?

In the last three years the company has experienced rapid growth thanks to four key drivers: a one-team culture; impressive return-on-investment (ROI) enabled by an advanced robotic heat exchanger cleaning technology; loyal clients; and a major emphasis on a service mindset.

The challenge Prior to 2017, cleaning and inspection specialists Tube Tech faced a variety of issues. For almost 30 years, the company’s business model had focused on one-off emergencies, but the majority of clients in the petrochemical industry usually preferred to carry out cleaning and inspection activity during planned shutdowns. Business development work was reactive, which inevitably led to declining sales and a brand reputation as and expensive, maverick and a ‘last resort’ contractor. Expensive technology equipment would often sit idle, while a negative working environment further contributed to the company’s woes. Strong leadership was needed to reinvingorate the company and turn the business around.

When Jon Camp joined Tube Tech as the company’s new Managing Director in 2017, he was tasked with an ambitious objective: grow revenues to £15m over the next five years. A complete overhaul was essential for the company to achieve this goal.

The solution In his first 12 months, Jon Camp kicked off a transformation strategy at Tube Tech. He wanted to establish

a one-team company culture and inspire a service mentality. Clients were kings and the company had to work in partnership with them – not against.

Following individual consultations with staff, Jon collated all their input and converted it to an action plan.

He developed a new sales process, with logical flow and well-defined accountabilities. Communication was essential, people wanted to know what to do and why, so he made sure that staff believed the transformation the

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company was going through and took ownership of it.

Technology was another key Tube Tech strategy. In 2010, the company conceived a robot with Shell designed for the cleaning of vertical combined feed exchangers (VCFEs), but Tube Tech was not selling this option to the market – in fact, it had only been used six times up to 2016. After collecting inputs and feedback from key stakeholders, Tube Tech invested in an

Success stories

extensive research and development programme and redeveloped the robot, bringing improvements to design and efficiency that could deliver unrivalled results in both output, safety and environmental performance for multisector assets, delivering proven ROI at source and critical emission reductions.

Over the last two years, the revamped robot technology has been deployed 58 times in four continents and the company is already planning to apply this solution to the renewables sector.

A key opportunity for Tube Tech to deploy its robotic technology with a significant contract with Sasol in South Africa. The company was experiencing a costly drop in performance due to severe fouling, which prevented five of its furnaces from reaching their required temperature. Traditional water-jetting methods would have been time-consuming and inefficient, which led Tube Tech to use its robotic convection bank cleaning technology.

Following a three-day operation, Tube Tech successfully removed fouling from each furnace without the use of chemicals restoring them to almost 100% efficiency.

Tube Tech today is in a much better shape. The company increased revenues from £2.2m in 2017 to £7.7m two years later and its client base increased ten-fold between 2017 and 2020. Moreover, the company was able to secure over 10 master service agreements in the US during this period. All this was possible thanks to Tube Tech’s change of culture, which values a service mentality and places customers at the top.

About Tube Tech

by reducing downtime, cutting carbon dioxide (CO2) emissions, increasing throughput and improving safety standards. The company is active in a broad range of segments within the heavy industrial sector, including refining, petrochemicals, power generation and offshore oil and gas, among others. In addition, Tube Tech International works with world-leading experts, scientists, engineers and educational researchers to deliver an ongoing R&D programme focused on solving today’s most complex challenges faced by heavy industries.

For more than 30 years, Tube Tech International has been providing simultaneous cleaning and inspection services for static heat transfer plants, providing significant savings to clients

Story type

Key findings

Government support?

#culture (main category) #transformation (main category) #service/solutions (main category)

For industry

Tube Tech has received a Horizon 2020 grant from the EU Commission and has applied for Innovate UK grants. In addition, the company has benefited from R&D tax credits.

#innovation #technology

Benefits • 250% increase in revenues between 2017 and 2019

• Never give up • Learn from your mistakes • Keep moving forward • Never ask someone to do something you’re not prepared to do yourself • Don’t advise on something you know nothing about • Try to be consistent in decisionmaking

Tube Tech at a glance: Key products and services: cleaning and inspection services for static heat transfer plants

For government

Main industries served:

• Nuclear power should be considered in the path towards net zero carbon emissions by 2050.

• Downstream – 90% • Others – 10% Headquarters: Rayleigh, UK Year established: 1989 Number of employees: 32 (31 in the UK) Revenue: £7.5m Revenue from exports: 72%

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Turner & Townsend Making the difference through end-to-end project management services

How is Turner & Townsend thriving?

An independent leader in safeguarding client cost and commercial interests, the natural resources sector of the company is adapting and embracing the changing energy landscape. In recognising the complexity, level of effort, cost and challenge around supply chain and delivery models, Turner & Townsend is investing to provide end-to-end project management services and developing its markets in renewables, downstream and sustaining capital projects. Fundamental to this vision is supporting our clients to reconsider

how risk is shared and managed with consultants and contractors as well as implementing digital-led cost saving strategies. In leveraging 70 years of world class services with a focus on developing local talent, Turner & Townsend’s expertise is backed up by extensive cost data to provide insights that generate significant value and certainty to its global clients.

The challenge Industry downturns affect companies in all fields of activity. Following the 2014 oil and gas crisis, where projects were delayed and cancelled amidst

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uncertainty and concern over outturn costs, Turner & Townsend knew a strategy that foccused on unparralelled cost certainty and project control thorughout the project lifecycle was needed to help its clients grow stronger out of the crisis.

The solution Turner and Townsend’s natural resources division embarked on a strategic process to differentiate by adding value through managed services. As an independent specialist with an impressive track record, Turner & Townsend is able to offer full project management services across all

Success stories

delivery phases, together with bespoke advisory and consultancy packages to match client’s specific challenges.

Benefiting from an extensive and fully maintained cost database, the company is also able to support clients by providing cost benchmarks to projects across the world.

A commission with a multinational oil and gas company was a key example of embracing the new norm. In late 2014, Turner & Townsend was asked by an oil major to carry out a full Class 2 cost estimate for a US$2.4bn LNG expansion project in East Indonesia prior to awarding an EPC contract for the project. Turner & Townsend put a team of estimate and procurement experts in Jakarta to provide a full service whilst ensuring compliance with local content and confidentiality requirements. Using the onshore facilities designs and measured takeoffs from the engineering contractor consortiums, the company also developed the bills of approximate quantities. Turner & Townsend’s cost expertise supported the project to develop estimates that would achieve the project’s objective of a final investment decision.

In a more recent contract, Turner & Townsend was involved in a US$18bn LNG project in Indonesia. Awarded a contract in December 2019, Turner & Townsend was tasked with managing the project’s entire cost and schedule risk analysis for the offshore/ onshore LNG development scheme. Spanning three countries, their work includes workshops, interviews and preparation of reports for the operator.

Following the COVID-19 outbreak in the first half of 2020, Turner & Townsend put the necessary technology in place to adapt to the abrupt shift to remote working. While traditionally this work thrives when team members are in the same place, the company put in place targeted actions to ensure successful implementation (the organisation of remote workshops with more than 60 people attending) earned plaudits from the client.

Turner & Townsend’s five-year strategy has been set to reflect the changing needs of the natural resources industry and supply chain. The company is preparing for a postCOVID world, where there is increased

Story type

Key findings

#diversification (main category)

For industry

#culture #service/solutions

• Listen and tailor your services to clients’ needs

focus on digital and data led cost and commercial strategy, schedule predictability and driving the net zero initiatives of clients.

About Turner & Townsend Turner & Townsend is a leading professional services provider offering independent advice and safeguarding the commercial interests of clients embarking on investment programmes across real estate, infrastructure and natural resources. From a single quantity surveying partnership in the UK founded in 1946, the company has grown to become a world-leading professional services company, with 110 offices around the globe. The company has a diverse range of services covering the full spectrum of consultancy, project delivery and post-project operations, such as programme and project management, cost and commercial management and procurement services, among many others.

Turner & Townsend at a glance: Key products and services: professional services provider Main industries served:

Benefits

Government support?

• New contract awards due to diversification and service strategy

Turner & Townsend has not received any type of government support

• Real estate – 45% • Infrastructure – 40% • Oil and gas – 10% • Mining – 5% Headquarters: Leeds, UK Year established: 1946 Number of employees: 6,105 (2,500 in the UK) Revenue: £640m Revenue from exports: 70%

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TÜV SÜD EnergieTechnik Fighting for their future

How is TÜV SÜD Energietechnik thriving?

Following Germany’s decision to shut down all of its 17 nuclear power plants, TÜV SÜD’s nuclear business fought for their future by developing a new growth strategy based on their unique expertise and passion for the nuclear sector. The company developed an international business from scratch, while securing contracts for upcoming decommissioning projects at German nuclear power plants. On top of that, the company joined up with its TÜV SÜD Limited sister company to share know-how, creating a strong nuclear group.

The challenge The early 2010s provided a bumpy ride for the nuclear industry around the world, and it was no different in Germany. In 2010, the German government made the decision to extend the life of 17 nuclear power facilities in the country, while Chancellor Angela Merkel publicly said that “nuclear energy is a bridge”.

All changed, however, following the 2011 Fukushima nuclear disaster in Japan. In a policy reversal, the German government announced in the aftermath of the disaster that it would shut down all its nuclear power plants by 2022, with eight of them to be closed immediately. Resistance to nuclear power found adherence in many other countries, presenting a massive blow to the nuclear supply chain.

The solution The Fukushima disaster was a gamechanger for TÜV SÜD’s Energietechnik (ET) division, working at that time solely for the local authority. The

company had a massive know-how in the lifecycle of nuclear power plants, but the decision by the German government to close all plants made the company’s business model change abruptly. While in the past TÜV SÜD focused on the entire lifecycle of a nuclear power plant, after 2022 the company will have only one nuclearrelated market in Germany – their decommissioning.

Indeed, the business of closing nuclear power plants quickly became an immediate opportunity for TÜV SÜD. The Ministry of Environment in Baden-Württemberg decided to make decommissioning part of its framework contract with the company. Having previous experience predominantly in the decommissioning of research reactors in Germany, TÜV SÜD set to work on obtaining decommissioning licences and getting ready for this new market reality.

This process represented a major change of culture for TÜV SÜD. While

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securing a business opportunity was good news, the company had to shift its workforce capabilities from O&M to decommissioning. A lot of employees had built their entire careers and knowledge on one segment and were now required to adapt. Many feared that their jobs were at stake.

With a calm approach, the company successfully managed to demonstrate how it would conduct its new strategy, persuading its workforce to be patient, stay in the company and trust the transition process.

Focusing on decommissioning German plants was the easy way out of the crisis, but it was not a sustainable solution. TUV SUD knew that all plants in Germany would shut down by the end of 2022, so the company had to seek new business sources to remain active following their closure. The company developed a new department for sales and marketing focused on identifying new leads and securing new opportunities in international markets.

Success stories

One of TÜV SÜD ET’s first major international opportunities came with Horizon Nuclear Power, which was working on a £16bn, 3GW plant in Wales. Following a bidding process for quality and safety assurance work, TÜV SÜD and its sister company TÜV SÜD Limited in the UK won a £3.5m contract for the project.

colleagues on new nuclear power plants, today the opposite takes place. TÜV SÜD UK’s strength on the decommissioning of nuclear facilities is shared with TÜV SÜD in Germany.

The two units have united forces to form a single nuclear business unit, sharing knowledge and bringing teams together.

The contract scope included support to Horizon’s Independent Assurance Learning and Regulatory Affairs (IALRA) team and consisted of a series of task orders to clearly define the scope, objectives, timescales and resources required by the project, in areas ranging from site licence application to environmental and safety support.

Although the Horizon project was eventually suspended, TÜV SÜD’s expertise in the technology around boiling water reactors was essential for the contract, as well as deep knowledge on the UK’s licensing, security and environmental permitting regimes.

TÜV SÜD’s nuclear business’ story is about their will to fight for their future. Following the abrupt end of their domestic business, the company successfully sought new opportunities in international markets while strengthening cooperation with its sister company in the UK. A company passionate about nuclear technology, TÜV SÜD’s nuclear business has reinvented itself and is now ready for the future.

About TÜV SÜD Energietechnik

TÜV SÜD ET’s close experience with its UK sister company was a great example of collaboration. While in the past the company’s German experts provided know-how to their British

Since the early 60th, TÜV SÜD Energietechnik (ET) is an independent and neutral service provider for assessment, inspection (Inspection body according to DIN EN ISO/IEC 17020:2012, type A) and consulting

Story type

Key findings

#culture (main category) #transformation (main category)

For industry

#collaboration #diversification #export

services in fields of technology which present a high risk potential, focusing on activities related to the safety of nuclear facilities. A one-stop service provider, TÜV SÜD ET supports clients with assessment and advisory services including siting and plant concepts, independent safety assessments, certification of mechanical, electrical and I&C components (equipment qualification including testing in our own laboratories) , on-site inspections and control of documentation and reports. Additionally, the company offers a comprehensive range of trainings in alignment with the entire nuclear power plant lifecycle including ISO 19443.

TÜV SÜD Energietechnik at a glance:

• Look at your strengths and build on them • Work together and not against each other

Key products and services: technical safety evaluation services for civil nuclear industry Main industries served:

Benefits

Government support?

• £3.5m contract award from Horizon Nuclear Power • New business sources following internationalisation strategy • Great synergies within TÜV SÜD group

TÜV SÜD Energietechnik has joined Germany-sponsored trade delegations to Japan and South Korea. In addition, the company has received R&D tax credits.

• Nuclear power – 95% • Nuclear medicine – 5% Headquarters: Stuttgart, Germany Year established: 1959 Number of employees: 450 Revenue: €90m Revenue from exports: 25%

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TÜV SÜD NEL Global thought leadership in flow measurement

How is TÜV SÜD National Engineering Laboratory thriving?

Alongside Scottish Enterprise, TÜV SÜD National Engineering Laboratory (NEL) invested £17 million in a worldleading, advanced multiphase test and research facility in the UK, retaining its global thought leadership position in fluid metrology. In addition, the company has built on its oil and gas heritage and quickly diversified to explore measurement challenges in the clean fuels, petrochemical and life sciences sectors. This has resulted in the development of new services which will have a strong focus on production optimisation and digitisation, and has also laid the foundations for some very interesting scientific research in the future.

The challenge A well-established player in the field of flow measurement, TUV SUD National Engineering Laboratory has experienced many challenges since its foundation in 1947. Previously unique in its service offering and a world leader in the science behind multiphase flow measurement, the company has seen a growing number of competitors enter this market and dispute its leadership.

NEL’s facility in East Kilbride (near Glasgow) had been modified over the years, but it no longer provided the world’s leading flow testing loop, as newer and more powerful facilities were introduced around the world.

Meanwhile, over-reliance on the the traditional oil and gas business posed a significant risk to the company. How could NEL maintain its credentials

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as the UK’s National Measurement Institute and explore opportunities in new market segments?

The solution NEL closely monitors market behaviours, and six years ago the company saw an opportunity to bring innovation to the industry while diversifying into new sectors. As a National Measurement Institute, they understood that thought leadership around fluid mechanics and flow metrology required the most up-to-date infrastructure and industrial solutions.

At the same time, NEL looked at the market and saw the potential to apply its expertise to new challenges in areas such as clean fuels, life sciences, subsea oil & gas, and water, among others. In the subsea segment

Success stories

specifically, the accurate measurement of multiphase flows is a crucial factor to understand the performance of production operations – a key concern when it comes to operator revenues and government taxes.

In order to meet these challenges, NEL made the decision to invest in the new Advanced Multiphase Facility (AMF), a revolutionary high-pressure, high-flow rate multiphase facility with a test range beyond anything currently available anywhere else in the world. Able to operate with a 140-bar pressure and affording much more accurate measurement (or lower uncertainty, to use the correct terminology), the AMF provides the right balance between NEL’s traditional and new portfolio of clients and technical challenges, such as digital solutions. Funded by NEL’s parent company TÜV SÜD, the AMF also received a £4.9 million grant from Scottish Enterprise.

NEL’s new Advanced Multiphase Facility (AMF) in East Kilbride has allowed the company to return to the top of thought leadership in flow measurement around the world. A project that required six years from concept to execution, the AMF was responsible for the creation of direct and indirect jobs and the singularity of its service offering is expected to double NEL’s revenues within the next 10 years. The AMF is all about continuing to develop and apply best practices for measurement – in oil and gas and beyond – while enabling further innovation of national and international standards.

About TÜV SÜD NEL As the holder of the UK’s national standards for flow and density measurement, TÜV SÜD National Engineering Laboratory (NEL) is one of the leading authorities on flow

measurement issues in the world. The company is an independent provider of calibration and testing services, in addition to consultancy services offering theoretical guidance and practical support on all aspects of flow measurement. In addition, NEL’s research and development work is at the forefront of research into flow and density measurement at UK, European and global level. NEL’s services are delivered by a team of 80 expert consultants, scientists and engineers utilising the facilities of their own accredited calibration laboratory, one of the foremost laboratories for fluid flow measurement in the world.

Story type

Key findings

#innovation (main category)

For industry

#digital #diversification #energytransition #optimisation #technology #transformation

• Fail fast, take risks and learn from them • Realise that your traditional markets will not always be there

Key products and services: independent consultancy, on-site measurement, testing, R&D and training services

For government

Main industries served:

• Provide more research funding to support the UK’s internationally recognised thought leadership in metrology • Advertise the UK as a provider of technology solutions, with the supply chain and expertise to facilitate it

• Government – 50% • Upstream O&G – 42.5% • Downstream – 7.5%

Benefits • Accurate flow measurement for governments and oil companies • Increased influence in flow measurement segment

TÜV SÜD NEL at a glance:

Government support?

Headquarters: East Kilbride, UK Year established: 1947 Number of employees: 91 Revenue: £11m Revenue from exports: 30%

The company’s AMF project received a £4.9m R&D grant from Scottish Enterprise. In addition, TÜV SÜD NEL has joined DIT trade delegations and received R&D tax credits. The company also benefits from the Apprenticeship Levy.

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Valor Thinking differently, solving collectively

How is Valor thriving?

A highly entrepreneurial enterprise, the Valor Group has a buy-and-build strategy for high-growth companies, focusing on leading technologies such as net zero carbon, enhanced oil recovery and asset life extension.

The company has seen fast success, balancing SME innovation with punching-above-weight collaboration.

The challenge Graeme McNay, CEO of the Valor Group, had an ambitious goal back in 2017: create a complementary, handpicked group of O&G-related business and services. Valor was still an unknown entity, however. How could he materialise his plans?

The solution Valor hit the ground running. Following an investment in a marketing strategy

to build the reputation of its brand, the group’s first acquisition was Cavitas Energy, a specialist in enhanced oil recovery (EOR) technology. Cavitas is known for introducing their Thermal Heavy Oil Recovery (THOR) downhole tool with a view to help increase recovery of heavier crudes and assist in unlocking reserves in the UK Continental Shelf.

Valor quickly added new capabilities to its group of companies. The next acquisiton was Aisus, a supplier of remote inspection solutions. In 2019, the company secured its first major contract in the renewables industry following a contract with TenneT off the coast of Germany.

Valor then developed AIM Valor, a specialist oil and gas asset integrity management company. Valor’s latest addition was North Sea Power Solutions (NSPS), an Aberdeenbased electrical engineering specialist,

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delivering electrical and procurement services to the energy industry.

Collaboration is also a key theme within Valor’s group of companies. Working for the China National Offshore Oil Corporation (CNOOC), Cavitas and NSPS worked together on a net-zero carbon project which involved Cavitas’ engineering and design expertise combined with NSPS’ electrical knowhow.

Valor’s group of companies closely follow today’s industry challenges.

Approximately 60% of the group’s combined revenues are associated with asset life extension opportunities, with the remaining 40% split between net zero carbon and enhanced oil recovery projects. Success is not without obstacles: the COVID-19 outbreak and the recent downturn in oil prices are great challenges, but Valor is ready to withstand them with its strategy of ‘thinking differently and solving collectively’.

Success stories

About Valor Located in Aberdeen, Valor is a specialist growth enterprise boasting a suite of oil and gas companies collectively working toward the highest of standards within the industry. With a common purpose of increasing performance, increasing production and providing assurance, each of the subsidiaries within Valor has been specially selected to interlink their operations within the oilfield.

Whether it be an innovation, technology or service-based business, Valor offers an intrinsic platform to allow maximum company growth for those within the group. Offering flexible investment frameworks, Valor will assist current business owners to progress the company’s operations whilst reaping many benefits from the group.

Story type

Key findings

Valor at a glance:

#collaboration #diversification #energytransition #innovation #transformation

For industry

Key products and services: private equity group

• Challenges can and will appear, but don’t feel you are unable to overcome them.

For government • Offer support to allow SMEs to play their part in the energy transition process

Government support?

Main industries served: • Upstream O&G – 85% • Offshore Wind – 10% • Others – 5% Headquarters: Aberdeen, UK Year established: 2018 Number of employees: 31 (29 in the UK) Revenue: £4m Revenue from exports: 30%

The group has received grants from Scottish Enterprise and the Oil and Gas Technology Centre (OGTC), in addition to R&D tax credits. The company has also joined DIT trade delegations.

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VWS Westgarth No 1 position in upstream water injection service solutions

How is VWS Westgarth thriving?

The company has secured a number one position in upstream water injection service solutions, with proven success in chemical innovation, asset integrity and digital technology, delivering a minimum 10:1 return on investment for oil and gas clients.

The challenge A company solely dedicated to a specific business segment is highly vulnerable to the ebbs and flows of its market. For oil and gas suppliers focusing only on design and construction services, this vulnerability becomes more evident. The last decade has witnessed major changes in the O&G market, mainly attributable to the global recession in oil and gas production and the resulting lack of new projects. A strategy to increase a company’s service offering to clients is therefore essential, particularly in times of industry downturns.

The solution Veolia Water Technologies, a Veolia division of which VWS Westgarth is part of, was fully aware that a focus on oil and gas design and build (D&B) services for the water treatment segment was very niche and that it had to boost its service offering.

After all, it was what clients both needed and wanted. The company had been developing the concept of diversification away from solely D&B for many years but really started to craft a service solution strategy just before the 2014 downturn in the oil and gas market.

Veolia evaluated the service solutions they could offer, and digitalisation

was one of them. Prompted by an increasing drive towards a reduced number of people on board offshore O&G facilities, the company realised it had to digitalise its services to provide operational support remotely. After assessing the appropriate digital data monitoring solution for their needs, the company quickly developed and deployed its real time data monitoring service.

Called ‘Aquavista’, this system is an all-in-one cloud-based set of digital solutions consisting of four complementary components: Aquavista Portal, Aquavista Insight, Aquavista Assist and Aquavista Plant.

Together, they provide a complete overview of a facility’s key information, in addition to visualization tools, information sharing and predictive analysis capabilities. A major benefit of Aquavista’s monitoring is related to its ability to track the condition of the water treatment membrane, a key asset which guarantees effectiveness of an operator’s water injection

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capabilities and, consequently, its oil output capacity.

Thanks to Aquavista, Veolia secured a key contract with SBM Offshore. The floater specialist awarded the company a contract to provide a bespoke asset integrity service on water injection modules present on 11 FPSOs across the world. Benefiting from Aquavista’s capabilities, SBM is able to increase the operational efficiency of its vessels by 30%, enabling cost savings of US$3-4 million (equivalent to a 10:1 return in investment on the Veolia contract).

Another service solutions strategy involved water treatment chemicals optimization. Veolia already has a corporate-level chemical brand called Hydrex, which provides water treatment chemicals for industrial and municipal usages around the globe. The company then took the opportunity to develop a specific chemicals range for offshore water injection applications.

Success stories

Clearly there are many chemical suppliers, but Veolia differentiates from the rest as they are technology specialists also offering chemical solutions – as opposed to simply offering chemicals as a commodity item. The company’s new chemical range offers alternatives in terms of chemical strength and quality, which offers logistical benefits while providing enhanced performance for the water injection system.

Veolia’s chemicals for the offshore segment found an opportunity with Total. In 2015 the oil major awarded a contract for 1,500 cubic metres of chemicals, of which two third were delivered over a year. Higher performance supported by a bespoke antiscalant chemical solution enabled a US$2.4 million saving to Total. After this successful experience, the operator has negotiated a multi-million-dollar contract extension with Veolia.

Story type #service/solutions (main category) #digital #technology

Benefits • Massive savings to clients due to increased operational efficiency • Enhanced portfolio of services and solutions

Key findings For industry • No digital solution can manage and learn from itself – people remain the company’s greatest asset • Innovation is key and having a business that can adapt to the dynamics of the industry is a must • Being adaptive, creative, innovative and able to react quickly are all essential requirements of a modern business

The success of Veolia’s strategy is self-evident in terms of year-to-year growth and the expansion achieved.

Introducing its digital support package to the market and breaking into the upstream O&G water injection chemical segment combined with its growth in its offshore physical presence was also crucial to maintain the business during the challenging downturn in the oil and gas market in 2014 and beyond.

Moreover, these solutions have provided clients massive benefits in terms of increased uptime, capacity and efficiency of the operation of their water injection systems.

Market challenges never cease, however, and the company’s services solutions continue to evolve and adapt in order to unlock additional value to customers across the world.

For government • Promote successes by UK companies • As the COVID-19 pandemic illustrates, our planet is subject to abrupt changes. Energy transition is not tomorrow’s issue, but a current one.

Government support?

VWS Westgarth has benefited from the Apprenticeship Levy as well as R&D tax credits. The company has also received support from the Engineering Construction Industry Training Board (ECITB).

About VWS Westgarth A world leader in seawater sulphate removal systems, VWS Westgarth specialises in the design and fabrication and operation of water treatment plants for seawater injection and produced water in the upstream offshore oil and gas sector as well As part of Veolia Water Technologies (VWT), VWS Westgarth cooperates with other VWT subsidiaries around the world in Europe, Africa, the Americas, Middle East and APAC. This allows VWT to cover the full scope of water treatment processes for the oil and gas industry (both upstream and downstream) and ensures they are able to satisfy local content requirements where needed by clients.

• The planet’s oceans represent a huge untapped potential when it comes to energy transition. They naturally store the energy the planet produces • In the context of energy transition, some geographical regions may be more lucrative than others (e.g. wind power in Scotland)

VWS Westgarth at a glance: Key products and services: design, build commissioning and operation of offshore water treatment systems Main industries served:

Energy transition lessons

• Upstream O&G – 100%

• Count on the skills and expertise of staff when looking at the development and implementation of energy transition solutions

Headquarters: East Kilbride, UK Year established: 1962 Number of employees: 150 Revenue: £50millon GBP Revenue from exports: 90%

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Waves Group Increasing certainty through digital vision

How is Waves Group thriving?

The newly merged company has fullscope, in-house marine and offshore consulting experts offering a complete package to shipping and offshore energy industries. From the CASPAR software system for assessment reports to visualisation technology for subsea inspections and assessments, Waves is helping clients make faster and smarter decisions.

The challenge In the past, Waves’ expertise was split between Cwaves and Mwaves.

While they developed and grew in their own respective markets, the two companies realised they had shared capabilities and could benefit from increased cross-fertilisation of clients.

Could their common knowledge be used to bolster business opportunities?

The solution In 2018, Cwaves and Mwaves merged to form the Waves Group. The goal was to provide a complete rounded service with all disciplines combined, from offshore energy to ports and harbours to sinking vessels. Lots of actions ensued: the company developed a new website and identity, opened an office in Singapore and brought in employees to look at the digital side of shipping. A better insight into survey data collection and data visualisation would be a great asset to clients, both in the shipping and in energy markets.

Leveraging the vast number of resources now available digitally, Waves has developed a unique in-house software system dubbed CASPAR (CASualty Preliminary Assessment Report). Providing in an easy-to-read format, a CASPAR report brings together the most relevant intelligence available in relation to an incident,

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such as AIS tracks, charts, weather and tide data, vessel details, photos or videos of the incident, among other considerations. The CASPAR report provides better insight into what has occurred and how best to respond to an incident during its early stages, helping reduce risk while increasing the certainty of a favourable outcome.

Improved situational awareness of what has happened and will happen – allows customers to focus on key aspects and make better decisions.

Another key digital technology introduced by Waves involves 3-D scanning and visualisation tools. The company conducted a survey for the UK Ministry of Defence (MoD) on a WWII shipwreck – the War Mehtar – which was carrying a significant amount of fuel oil when it sank. Waves was appointed to carry out a survey at wreck site and assess the number of hydrocarbons left in the tanks following leak reports. Working with partners,

Success stories

About Waves Group Waves Group is a leading firm of independent marine consultants, which has combined the Mwaves and Cwaves brands to provide an extensive range of specialist consultancy services to the shipping and offshore energy industries. Waves Group combines their respective expertise to provide their clients with a greater range of bespoke technical advice, assurance and expert guidance on a wide range of marine and offshore matters. The company’s expert consultants are involved in a range of projects that gives them a breadth of experience whilst always advancing their individual specialisms. They work closely with clients to provide practical solutions, mitigate risks and reduce costs where possible. The company has its headquarters in London, with additional offices in Aberdeen and Singapore.

Waves’ merger and synergy of capabilities have created many opportunities. The company is now active in both sides of the risk spectrum: while post-risk assessment analyses of

what went wrong provides lessons for future performance, pre-risk assessment uses Waves’ engineering expertise to prevent things going wrong. Beyond CASPAR, the company is also working with an offshore wind developer on an early stage project to apply their practical engineering experience to risk assessment and planning stages of an offshore construction programme.

In summary, Waves offers a complete package of support available to clients – from offshore energy to ports and harbours to sinking vessels and beyond.

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Key findings

#diversification (main category)

For industry

#technology #digital #service/solutions

• Listen to your clients and employees

Key products and services: marine consultancy services

For government

Main industries served:

Benefits

• Maintain the UK position as a market leader in the development of new technologies • The government should step up efforts to help exporters entering new markets

• Marine – 50% • Renewables – 40% • Oil and Gas decommissioning – 7.5% • Heavy lift cargo – 2.5%

Waves did a full survey of the area and thanks to digital tools developed inhouse, produced a full 3D model which allowed a virtual reality visualisation of the wreck and an assessment of hydrocarbon levels in tanks. This tool is now available in the market and can be applied to subsea assets of all kinds.

• Faster casualty response • Diversification into offshore wind segment

Waves Group at a glance:

Government support?

The company receives R&D tax credits and has joined a DIT trade mission to Belgium.

Headquarters: London, UK Year established: 2005 Number of employees: 38 (35 in the UK) Revenue: £4.5m Revenue from exports: 60%

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Success stories

Whittaker Engineering Smart decisions during downturn

How is Whittaker Engineering thriving?

A family-owned business, Whittaker Engineering emerged strongly from the oil and gas downturn with smart pricing and cash flow decisions, a passion and reputation for solving awkward engineering and manufacturing challenges, a recent investment in 3D welding as well as absolute faith in their ‘people first’ culture.

The challenge As the downturn in the UKCS market deepened in 2014, the industry was in constant pressure to reduce costs.

Customers demanded increasingly lower prices while the supply chain struggled to remain competitive. Price reductions led to lower margins and

contributed to the financial plight which many suppliers of goods and services were going through. Oil and gas suppliers faced a big question: reduce prices – and margins – to satisfy customers or keep them unchanged and risk losing sales?

The solution Whittaker Engineering was no exception to this dilemma and they were in constant pressure from clients to reduce its prices by 15-30%.

Contrary to conventional wisdom, however, Whittaker stood firm and refrained from doing so. The company knew that any price reduction would set a precedent among its clients, who would then build the expectation that further price reductions would be possible. Whittaker didn’t want a

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commoditised purchasing mindset in the market and the company was ready to face the consequences of not reducing prices.

Whittaker’s decision not to yield to the market’s price-cutting pressure was unpopular, but it proved to be a sensible one in the long run.

Sales volumes initially experienced a reduction: while in 2013-14 Whittaker’s revenues were £23.6m, in 2016 sales reached the low point of £10m.

Despite low volumes, the decision to keep prices stable allowed Whittaker to protect its margins for the future.

During the years of crisis, the company realised the importance of cash flow management and the need to be more commercially astute than never before.

Keeping prices unchanged was not

Success stories

Whittaker’s only bold decision during the downturn. Unlike other players in the oil and gas supply chain, the company refused to lay off its workforce during the crisis. Whittaker has a ‘people first’ mentality and the company was committed to retaining its high-quality, well-trained staff.

Although sales volumes were low, Whittaker saw the opportunity to innovate. The company invested £500,000 in que acquisition of a robotic 3D welding machine – the only such equipment in north-eastern Scotland. The machine provides a potentially much quicker (two weeks instead of six months for large castings) and cheaper alternative

Story type #optimisation

Benefits • Margins retained, with no impact to workforce • Time to cast complex components reduced from 6 months to 2 weeks

Key findings For industry • Get your finances sorted and focus on cash flow rather than profits • Avoid boredom - keep it fun and engaging for owners and staff • A “people first” mentality will enable higher quality and loyalty • Invest in technology and people (e.g.

3D metal printer, apprenticeships)

to the manufacture of complex cast components.

A company that prides itself for thriving on awkward engineering challenges, Whittaker Engineering successfully overcame the crisis. Revenues are on the rise following the downturn (£14.9m in 2019) and its decision not cut prices was fundamental to retain not only margins, but the company’s whole team and their high-quality work.

About Whittaker Engineering

construction, supply, maintenance and repair of components and equipment for the marine and offshore industries. Based in Stonehaven, the company has grown with the local industry over three decades, offering services aimed towards solving engineering and manufacturing challenges.

Whittaker Engineering is a Scottish contractor engaged in the design,

Whittaker Engineering has its headquarters in Scotland, with an international presence in Mexico (where the company has a fabrication shop and office) and the United States.

For government

Export lessons

• A UK first business approach should be encouraged, especially with regard to the energy transition process • Stick to pledges made under the Paris Agreement • Encourage local content with a focus on the environment • Create clusters for Scottish construction players • Enforce a zero-carbon policy with imported products • Enforce 30-day payment of invoices to SMEs.

• Offshore wind provides a great opportunity for O&G suppliers looking to join the energy transition process

Government support?

Whittaker Engineering has received grants and R&D credits, in addition to benefits provided by the Apprenticeship Levy. The company has also joined trade delegations organised by the Department of International Trade (DIT) and Scottish Development International (SDI).

Sustainability and diversity lessons • Companies should explore the possibility of installing biomass boilers to satisfy heating demand

Whittaker Engineering at a glance: Key products and services: Offshore engineering and construction services Main industries served: • Upstream O&G – 95% • Industrial – 5% Headquarters: Stonehaven, UK Year established: 1983 Number of employees: 170 (128 in the UK, 42 in Mexico) Revenue: £19m (£14.9m) (2019) Revenue from exports: 20%

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Success stories

Wood Future-ready now

How is Wood thriving?

Moving fast, the company has emerged from the merger with Amec Foster Wheeler with a clear vision and a united culture, reinforcing its standing as one of the world’s leaders in consulting, projects and operations across a broad sector base. Wood aims to lead in energy transition and sustainable built environments.

The challenge As the world wrestles with the impacts of rising global temperatures and wider scale polution, the way in which the world consumes energy inevitably changes. In addition, urbanisation and the increased migration to cities calls for more efficient, smarter use of energy and natural resources and ultimately the development of sustainable and resilient infrastructure.

Prior to its merger with Amec Foster Wheeler, Wood had been a leader in the upstream sector, subject to oil price volatility and trends of energy demand moving from hydrocarbons to

renewables. The company needed to the be ready for a more resilient future.

technical one, helping design and build things sustainably for the future.

The solution

It also took a significant step in project delivery with the acquisition of a multisector capital projects business with an extensive downstream and chemicals pedigree and a broad portfolio spanning new end markets such as waste-to-energy and life sciences.

The strategic acquisition of Amec Foster Wheeler started a new cycle for Wood. Suddenly the company became a significant industrial player and world leader in more than one industry sector.

Creating an efficient business and shaping a single culture was essential, and Wood promptly reached out to its employees to identify key values and create a new vision for the company.

Inspiring with ingenuity, partnering with agility and creating new possibilities would be at the heart of Wood’s future.

Creating new possibilities was a key business opportunity, as the merger broadened Wood’s position in the energy and built environment markets. The company introduced a consulting business focused on these areas, offering specialist engineering, infrastructure development and environmental consulting – all future growth markets. The idea was not to be a management consultant, but a

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Wood’s operations business has not sat still either. Building on its offshore energy heritage, its portfolio now includes key water infrastructure projects, a strong pharmaceuticals footprint and landmark energy transition projects such as Equinor’s Hywind Tampen project which will power offshore oil and gas platforms from an offshore floating wind farm.

As Wood looks to a low carbon future there are many exciting opportunities to take a leading role in the energy transition. One such project is Humber Zero, which will form a significant element of the UK’s industrial decarbonisation strategy, making up one third of the Humberside industrial cluster.

Success stories

Wood’s consulting business is delivering the concept selection and early design for the project which will integrate established industrial sites with state-of-the-art technology to capture carbon. The concept will help reduce carbon emissions from power stations and refineries, as well as create a sustainable platform for industrial growth and economic development and meet decarbonisation targets.

Following its successful merger with Amec Foster Wheeler, Wood has obtained a unique range of capabilities and opportunities to cross-sell within many markets. Indeed, the upstream oil and gas sector now accounts for around 35% of the company’s revenues, compared to 90% premerger. Remaining agile and flexible, Wood strives to keep things simple

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while positioning for mega trends such as energy transition, sustainable infrastructure development and the digital tech revolution.

The COVID-19 pandemic and resulting market volatility underlined the value of diversification. With exposure to a much broader set of end markets, Wood has been able to weather initial storm and is well placed to capitalise on the resulting changes to energy consumption and sustainable infrastructure as the world adjusts to its “new normal”.

About Wood Wood is a leading player in the delivery of consulting, projects and operations services in energy and the built environment. The company operates in more than 60 countries,

employing around 45,000 people. It provides performance-driven solutions throughout the asset lifecycle, from concept to decommissioning across a broad range of industrial markets, including the upstream, midstream and downstream oil and gas; power and process; environment and infrastructure; clean energy; life sciences and general industrial sectors.

Founded in 1982 as John Wood Group, the company has acquired various players over the years. One of its notable transactions took place in October 2017, when the company completed the acquisition of Amec Foster Wheeler.

Energy transition lessons

For government

#transformation (main category)

• Successful diversification beyond oil and gas • Delivery of US$30 million in synergies following merger

• The government should back clusters to boost British exports • Pursue tangible targets when it comes to energy transition • Carbon capture, utilisation and storage (CCUS) is a solution and it requires government support • Hydrogen will be key for decarbonisation, but it must economical. Joint action by government and industry is needed

Key findings

Government support?

Main industries served:

For industry

Wood has benefitted from various government support initiatives, including R&D tax credits, DIT trade delegations and apprenticeship levy.

The company has also received support from UK Export Finance (UKEF).

• Upstream/midstream Oil & Gas – 35% • Downstream & chemicals – 25% • Renewables – 25% • Sustainable infrastructure – 15%

#culture #diversification #sustainability

Benefits

• Harness ideas of staff - don’t try and do it all top-down • One-team is much stronger – but make it happen, don’t trust it will happen on its own • Believe in blockers and enablers – be thoughtful of winning hearts and minds and getting people behind you • Be flexible and asset-light • A broad portfolio reduces risk exposure

• Adopt a ‘future ready’ mindset • Be part of solutions for the decarbonisation and energy transition process

Wood at a glance: Key products and services: consulting, projects and operations for energy and the built environment

Headquarters: Aberdeen, UK Year established: 1982 Number of employees: 45,000 Revenue: Around US$10bn Revenue from exports: 85%

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