The three-year downturn in oil and gas, which started mid 2014, was felt throughout the industry. But it was arguably in the subsea sector that the impact was felt most.
In every corner of the world, one high-cost project after another was shelved or abandoned as subsea budgets were hit hard in favour of the less expensive and ‘quick win’ alternatives offered by North American shale.
But recent data suggests subsea is on its way back.
Research from Norwegian headquartered Rystad Energy states spending in the offshore services market will grow by 4 percent this year – with the subsea supply chain in line to reap the benefits.
Westwood Global Energy Group has reported a fight back from deepwater, with 22 high impact exploration wells to be drilled in North West Europe alone in 2019.
Oil price predictions of US$60 to US$80 for this year, coupled with efficiencies and new technology adoptions that have seen operating costs fall dramatically since 2014, mean the time is right for home-based subsea companies to consider going for growth in the international arena once again.
We expect to see a high degree of justifiable confidence at the Subsea Expo conference and exhibition at the AECC in Aberdeen 5th-7th February.
Key to your international business development will be the creation and delivery of an effective communications strategy, and we’ve created a report based on our own research that will help you.
Marketing out of a downturn
You’ve survived the past four years, which means your business will have changed significantly from what it was in 2014. So too will your company value proposition and the way you talk about your business internally and externally. Marketing strategies, channels and measurement metrics to provide qualified sales leads have also moved on and you’ve got to move with them – or face being left behind.
The downturn was harsh; we all accept that. But every one of us has come out of it with a much greater customer focus, a willingness to accept change for the better and a renewed confidence in our ability to succeed. Your marketing strategy should reflect the new you and help you achieve your new growth ambitions.
