NOF Energy, the business development organisation, has expanded its service provision to include new energy sectors including shale, nuclear and petrochemicals, which will give its members access to new opportunities.
The organisation, which has traditionally focused on upstream markets, has diversified into a range of new sectors and will be providing support to companies operating in, or aiming to enter, markets such as midstream, downstream oil and gas, power generation and wave and tidal.
Since the downturn in the oil and gas industry, supply chain companies have recognised the importance of diversification as well as operating on an international scale in a number of geographical markets.
NOF Energy identified the shale gas market as a high growth sector in 2013 and visited Oklahoma and Louisiana to identify and explore opportunities for members. The organisation is working hard to ensure its members are in a position to serve major operators, after the first UK shale gas operation since 2012 was approved.
With regards to nuclear, there are the opportunities presented by projects such as Hinkley Point C, where NOF Energy has long been engaged with EDF Energy. It is also hosting an event with GE Hitachi Nuclear Energy over the summer and with Horizon Nuclear Power in the autumn.
There is also now a focus in industry upon operation and maintenance opportunities, which will increase as aging platforms and projects require more attention.
The organisation is increasing its existing network of more than 7,000 companies by entering in to strategic partnerships with multinationals and coordinating its efforts with other trade bodies such as the British Water Trade Association.
Membership of NOF Energy is at its highest level since it was established in 1988 and it has expanded its team from eight to twelve members of staff since 2013.
George Rafferty, Chief Executive of NOF Energy, said: “It’s important that we regularly evaluate the markets we are active in to ensure our service delivers relevant opportunities to our members.
“A great deal of the businesses we work with have skills and capabilities that can easily transfer in to new markets; by expanding our service we will be able ensure that our members are exposed to new opportunities in sectors they may not yet be operating in.
“The downturn in the oil and gas market provides an example of just how important it is to spread risk by serving a diverse customer base, which helps to minimise the consequences of cyclical fluctuations in activity.”