"Our business idea is reliant on good HES/Q performance", CEO & President Morten Walde writes in the latest edition of Management Letter.
The level of investment on the Norwegian Continental Shelf has increased by an average of 15% year on year in the period 2011 to 2013. A slowdown in growth to around 5% a year is forecast for the next three years between 2014 and 2017. In this context it is important to take into account the record high level of investment at present (2013) when assessing market prospects. Combined with continued growth of 5% this will help ensure beyond doubth that the Norwegian Continental shelf remains the most active, and possibly also the most attractive, offshore market in the world.
Level of activity
Beerenberg has seen a consistently high level of acftivity in the Maintenance & Modifications segment throughout the third quarter, even after the completion of the extensive maintenance shutdown at Greater Ekofisk. In light of this the company management should like to praise both the ConocoPhillips and Beerenberg crews for a very successful maintenance operation. The very high levels of activity during the summer have been well handled, with good progress and good HES/Q statistics intact. There are high expectations for activity levels on the other offshore assignments for Statoil and ExxonMobil at the start of the fourth quarter, and the company in experiencing significant activity at the onshore plants of both Statoil in Kårstø and Shell in Nyhamna.
HES/Q, technology development and competence development
The majority of Beerenberg's client portfolio has safety, successful execution and competitiveness as its key priorities, both internally and when evaluating potential partners. It is therefore no coincidence that Beerenberg's order books are dominated by business that prioritise exactly these capabilities. Our business idea is reliant on good HES/Q performance, which in turn underpins stable and successful execution, a high level of cost-efficiency and continually improving competitiveness.
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