Quick Enquiry

SHARE THIS

Resilience in the O&G Industry: Key to Long-Term Success in Asset Integrity Services 

The last five years’ oil price trends have taken a toll on the global oil and gas industry, significantly dropping rig utilization and rig hire day rates. Only now is the sector beginning to recover with the recent price improvements.

For instance, the Brent Crude is now at $73 per barrel, and although it’s still well below $110 per barrel, the continuing price improvements is showing positive outlook no matter how slow. And in any optimistic industry forecast comes the expectation of many oil and gas companies.

As oil prices recover, offshore oil and gas activities are slowly picking up from the end of 2017 up to the first quarter of 2018. Latest global news includes:

  • More well exploration activities
  • Successful oil discoveries and high production output
  • New rig purchase orders
  • Continuous controlled production rate by OPEC
  • Increased contracts awarded
  • More job opportunities in the O&G industry
INCREASING OPTIMISM

According to estimates, the NDT inspection services market growth will reach $76 million in revenue in 2020 from $64 million in 2017, through a steady CAGR of 3.7%. 

Despite the low demands in NDT equipment industry due to fluctuating oil prices, inspection and maintenance activities in the existing oil fields and aging plant equipment continue to manifest strong revenue and market share growth.

Large-scale market adoption of non-destructive testing (NDT) methods such as Phased Array Ultrasonic (PAUT) and Eddy Current has been evident in the last few years, especially in countries such as China, Brazil, India and South Africa.  Not only are these methods faster, more reliable, cleaner and safer, they are also suitable for various applications such as weld verification and complex structural mechanics.  

ADDRESSING SKILLS SHORTAGE

The common challenge confronting the industry, however, is the lack of certified technicians as the demand for NDT inspection services increases.  This skills deficit is endemic around the world due to the wave of labour layoffs in the last 4 years, as well as the aging workforce of the NDT community.

The unique problem faced by the offshore industry is bed space–limited accommodation for trainees onboard as clients demand only fully qualified technicians to be in their teams. To address the lack of structured trainee program, NDT companies absorb the specialist apprenticeships training costs to upskill their existing workforces.

Strategic partnerships among training providers and various government agencies who are willing to provide workforce development have also emerged and will continue in the coming years.  Many organizations have also started their initiatives in addressing the shortage of science, technology, engineering and math (STEM) education programs, which could potentially boost the capabilities of young talents entering the oil and gas industry.

Axess Group’s commitment towards individual career development accounts for the highest possible standard of services and solutions delivered to our clients.  Enhancing the skills and confidence of Axess personnel through specialized training not only aids in the growing industry skills gap, it also allows us to align with the productivity goals of our clients.

This article was inspired from the presentation of Mr. Ray Liversidge, Axes North Sea’s Technical Support, at the UK Conference on Certification and Standardisation in March 2018. A broad range of NDT / NII methods are important tools in the holistic Asset Integrity Management approach by the Axess Group.

 

For future collaboration about our asset integrity solutions, contact us at post@axessgroup.com

Contact Information

Molde
Axess AS
Oscar Hanssens vei 5
6415 MOLDE
+47 982 43 600
Aberdeen
Axess North Sea Ltd.
Units 6 & 19 Robert Leonard Centre
Howe Moss Drive, Kirkhill Industrial Estate, Dyce AB21 0GG, UK
(duty): +44(0) 7912212854
St. John's
Axess Baffin Inc.
702 Water Street, Suite 201
St. John's, Newfoundland
+1 709 758 7937
Bergen
Axess AS
Kokstadflaten 35
5257 Bergen
(duty): +47 982 43 600
Houston
Axess North America Inc
15915 Katy Freeway, Suite 501
77094 Houston, TX
+1 (281) 994-0367
Villahermosa
Stavanger
Axess AS
Koppholen 25, 4313 Sandnes
Stavanger, Norway
(duty): +47 982 43 600
Rio de Janeiro
Axess do Brasil Ltda
Rua Dezenove de Fevereiro
171 - Botafogo
CEP 22280-030 Rio de Janeiro
+55 (21) 4108-0532
Accra
Axess Petrorig Ghana Limited
3rd floor, The Pelican
8 Blohum Street, Dzorwulu, Accra, Ghana
+233 (0) 30 397 0548
Luanda
Rainha Ginga
127 Luanda, Angola
+27 82 202 5266
Cape Town
Axess Africa Ltd.
1 Nares Street
Observatory
7925 Cape Town
+27 82 202 5266
Trondheim
Axess AS
Nedre Bakklandet 58C
7014 Trondheim
(duty): +47 982 43 600
Orkanger
Axess AS
Grønøraveien 1
Orkanger
7300 Orkanger
(duty): +47 41 78 06 30
Oslo
Axess AS
Filipstad Brygge 1, 3rd Floor
Oslo, Norway
(duty): +47 982 43 600
Busan
Axess Offshore Korea LLC
#103 (Aju-dong Hyunjin Evervil) B1 Yang 1-gil, Geoji-Si
Gyeongsangnam-do, South Korea
+82 10 8929 2016
Mumbai
Axess Offshore (Mumbai)
Alpha, 2nd Floor Unit No. 201
Hiranandani Gardens Powai, Mumbai
India
Singapore
Axess Offshore Pte Ltd
Nordic European Centre #05-31 South Wing
3 International Business Park
609927 Singapore
+65 6908 4174
Perth
Axess Offshore Australia Pty Ltd
140 St Georges Terrace L28,
Perth WA 6000
+61 4 3373 0739
Perth
Axess Offshore Australia Pty Ltd
140 St Georges Terrace L28,
Perth WA 6000
+61 4 3373 0739
Map of Departments Molde Aberdeen St. John's Bergen Houston Stavanger Villahermosa Rio de Janeiro Accra Luanda Cape Town Trondheim Orkanger Oslo Busan Mumbai Singapore Perth