An industry leader said it’s time the sector shed the oil price shock and started working on becoming a better version of its former self.
Harkand chief executive Jonny Reed added the global oil and gas industry was a community of “survivors”.
He said: “We are struggling like everyone else. It’s been a downward spiral. But there will be winners on the other side.
“I’ve been through this five or six times now but it will be worth it if you make it there.
“Survivors win in this industry. If you can not only survive but emerge a better version of yourself you will be okay.”
Speaking of the recent downturn, he added: “First you have to get over the shock of it and reign in your costs. Then it’s about repositioning yourself to be in the markets, where when it all comes back around, that will be a fantastic market to be in. And hopefully you’re there ahead of competitors.”
Harkand recently signed a joint venture to position it in Mexico’s emerging energy frontier.
The company leader said work in the region, which just opened up its historically closed doors, could make up 20% of his firm’s outlook.
He said: “We saw it as an immediate market entry to the shallow water but also saw the opportunity in future deepwater exploration.
“It’s about having the the money and technology to recover it. Pemex are looking at the same type of oil field and geology as the US side. If they can move quickly and make the right partners they can capitalise on it.”
However, the industry veteran added in tandem with company repositioning, encouraging the next generation of energy leaders was just as critical to the sector’s long term success – one could not happen without the other.
Reed said the energy industry offered boundless opportunities. His words echoed those of Wood Group Mustang’s chief executive Michele McNichol.
He said: “It’s a great industry. You can come from anywhere and go anywhere. It doesn’t matter who you are as long as you’re willing to put in the time you can make it in this industry.”
Harkand specialises in subsea inspection, repair and maintenance as well as light construction, construction support and survey services.
It was recently awarded a $5million contract in Mexico to perform saturation diving services in support of an offshore pipeline project for offshore construction company Swiber Offshore Mexico.
