The sharp fall in oil prices has resulted in intensified competition within the offshore oil and gas industry and the prevailing market situation confirms a continued uncertainty ahead. The market was quick to re-evaluate its processes and budgets, redirecting its primary focus to cutting costs, adding value and increasing efficiency.
Fredrik Meuller, Business Area President, Trelleborg Offshore and Construction, says: “The natural reaction when the barrel price falls is for operators to cut costs wherever possible. However it is vital that operators save in the right areas and resist the temptation to simply buy cheap. It remains important to invest in solutions which will continuously deliver high performance over a long lifecycle, to protect projects in the long term, even in tough times.”