The Hydrocarbon Sector strategy seeks to diversify our earning across three axes, namely:
- balancing the portfolio across the Upstream and Midstream/Downstream industry segments
- an even split between Greenfield and Brownfield projects
- growing the National Oil Company (NOC), strategic “Tier 2” independents and Asian EPIC customer groups.
Upstream, Midstream and Downstream industry segments
Over the past decade we have had our sails set for an upstream wind and this focus led to the rapid expansion of the company in a number of geographies. We believe that similar headroom for growth exists for us in the Midstream (Pipelines and LNG) and Downstream (Refining and Petrochemicals) industry segments.
Greenfield vs Brownfield
In the current period of lower commodity prices the market generally favors ‘sweating’ existing assets rather than maintaining the record levels of new greenfield developments seen in the past.
To capitalize on this trend we are actively building our Improve business line to gain a greater share of work on the ongoing brownfield upgrades together with the operations and maintenance spend that supports existing production.
Spreading the customer base
Our customer base continues to evolve. In challenging times new customer groups come to the fore. We seek to emulate the success we have enjoyed in building our major customer base in the other current and emerging customer groups.