OPC saw a much welcomed upturn in the award of new technical projects during the quarter ending 30 November 2015 thanks to an increase in asset evaluation projects and the results of proactive sales and marketing activity.
Riley Smith, Business Development Manager commented “We updated our website presence in the spring and have been undertaking proactive email and digital marketing activity over the summer to stresses the benefits of using OPC, an experienced and expert yet cost-conscious partner. Our digital marketing has been supported by an extensive international visit and meeting programme to build these contacts into effective client relationships, ultimately reflecting in these new contract awards during the quarter.”
OPC’s role on these on new projects can broadly be categorised as:
Asset valuation – an independent expert
Market conditions have driven an increase in asset acquisition by private equity backed organisations and OPC has been retained by several such companies to undertake an independent asset valuation as part of the due diligence program. OPC is also undertaking a peer review on behalf of a sovereign oil authority to provide an independent assessment of the budgets and costs proposed by their IOC partners for all of that country’s future oil field development.
Insourced technical team
The smaller private equity backed operators do not want to established large internal technical teams and are therefore looking for partners to provide expertise on an “as required” basis. OPC has been appointed to act as the technical services team on an onshore exploration project in the Middle East. This trend is not limited to the smaller operators. Riley adds “We have been appointed as the key technical partner on a project in Africa for a major IOC which has slimmed down their in-house technical team in order to make cost-savings.”
OPC Managing Director Piers Johnson commented “2015 has been a difficult year everyone in the industry and, while I’d be wrong to say our business was booming, I am pleased with the amount of new technical work that we have been awarded in the quarter. I attended the ADIPEC event in Abu Dhabi and am hopeful of being able to report several new contracts as a result. My consistent message – that using a specialist consultancy such as OPC gives you technical excellence at an affordable price – was very well received.”
The new projects secured in the quarter included:
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