But this has seen the demand for asset integrity services increase, due to the need to create well engineered solutions that ensures maximum uptime of assets.
So the Aberdeen-based Asset Integrity Group Ltd has officially launched after successfully securing its first project in the city.
Asset Integrity consultancy which started in August 2016, boasting a team of professionals who collectively offer in excess of 250 years’ experience, has so far achieved a healthy five figure turnover months after securing an initial project supporting a local operator.
This has enabled Asset Integrity Group to surpass its projected targets six months ahead of schedule whilst actively bidding for projects throughout various industries including oil and gas and renewables.
This success is even more notable as it comes at a time when the energy sector has seen a substantial decline in activity and budget spending has been slashed.
Director William Mclean explained: “We are very pleased with our achievements to date, not just on a personal level but also on our progress in establishing a successful independent Asset Integrity consultancy at such a difficult time.
“The low oil price has taken a strong hold of the North Sea oil and gas sector over the last two years affecting exploration, production and other operations, with many companies facing real challenges.
“In some cases, our clients have found that they have been able to use this time to really focus on the condition and integrity of their vital assets, ensuring that performance is not compromised once projects scale up again”.
Fellow Director Dave Noble outlined the plans for Asset Integrity Group over the next twelve months, “We are currently engaged with a number of businesses which are looking to implement our services into various project work scopes, which will allow Asset Integrity Group to predict workflow as we introduce and promote our highly innovative services to the marketplace.
“With each of our consultants concentrating on specialist areas, we can offer a more focused approach to Asset Integrity and a strong commitment to our O&G North Sea Operators which is where our core experience lies”.
Polaris Learning set for training growth
Meanwhile, a Grampian-based training, development and competency management specialist is on course for further growth in the global oil and gas industry after securing vital support from Business Gateway.
The Oldmeldrum-based company, which currently employs 18 people, expects to add additional personnel to its team in the New Year, said Keith Adam, managing director of Polaris Learning,
Polaris Learning has been approved for the Business Gateway Growth Pipeline, an intensive 18-month programme which will provide across-the-board support covering business strategy, marketing strategy, IT resources and research into overseas markets.
As part of this process, the company had to provide a detailed growth proposal which outlined an overview of its business, core products, markets, competitors and international sales targets. The firm was also required to demonstrate specific criteria including its use of technology and export strategy.
Polaris Learning expects to record turnover of just under £1 million for its December 2016 year-end. With support from Business Gateway, the company is targeting year-on-year growth with turnover projected to increase by more than 50% to £1.5 million by the end of 2018.