Delivering efficiencies and building resilience

 

 

Our Managing Director Jack Davidson writes for the November 2020 edition of Energy Voice

 

 

The universal hit of the pause button as the world first reacted to COVID-19, has been overridden by the realisation that this pandemic and its repercussions are challenges we have to deal with and adapt to if we are to survive and thrive.

 

It’s difficult to predict what COVID-19 will mean for decommissioning.   Opinions are both varied and changing - will it accelerate or defer activity in this space?

 

It’s certainly not as black and white as revisiting sector reactions to the oil prices challenges of recent years.  While analysts note that decommissioning did not surge in activity in reaction to the 2015 crash (Wood McKenzie, May 2020), this is a very different world to that of only five years ago. The interceding years have witnessed the initiation of complex decommissioning programmes involving significant investment of resources.  Referring to the wider oil and gas market in its crisis response for oil and gas series in October 2020, EY suggested “what’s likely to occur in the market is an acceleration of what was probably going to happen anyway.”

 

As an industry, this isn’t our first rodeo, and there is no need for me to list the tumultuous challenges we’ve collectively faced here.  While my crystal ball is as foggy as the next persons right now, what I can do is share how the resilience we’ve worked hard to build at JFO in recent years is delivering and why there are reasons to be optimistic.

 

JFO has adapted to the multiple challenges of the last five years allowing us to develop and deliver real solutions to the problems facing our existing customer base and to successfully bid for new work globally; particularly in decommissioning.  By prioritising the resilience of our business through the sustained development of an incredibly experienced team, investment in innovative technical solutions and targeted internationalisation, we are continuing to deliver and enhance the time and cost efficiencies that positively impact our client’s projects.

 

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