Demand for oil and gas pulls energy sector through recession
Although the oil and gas industry has been affected by the global economic slowdown the energy sector tends to work in longer-term cycles. This is particularly true of deepwater operations.
The demand for hydrocarbon-based energy is continually increasing and this has pushed the industry into new territories and ever deeper waters. As a result of continuous exploration and production activity much of the offshore supply chain has remained relatively well protected from the worst ravages of recession.
Despite the economic slowdown Balmoral Offshore Engineering’s international business has increased exponentially between 2007 and 2010 with more than 95% of our products being shipped overseas.
We are delighted that the industry is showing its faith in us as a premium provider of high quality, reliable products and have been successful in securing significant contracts for some of the industry’s most prestigious global deepwater provinces.
To cope with the increasing demand we are investing heavily in a new manufacturing plant in Brazil and have completed the upgrade to our subsea test centre – now Europe’s most comprehensive privately owned facility.
We remain very much a client focused company, dedicated to cost effective technology-led solutions supported by very high levels of service, from conception to delivery.
Log on to balmoraloffshore.com for the latest product information and company updates or call us to discuss your particular requirements.
Jim Milne CBE, Chairman and Managing Director, Balmoral Group
