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The Assignment / Client’s Problem

  • Review of the North Sea and global fluid transfer (FT) market amidst challenging and volatile market conditions
  • Evaluate short-to-medium term opportunities within the incumbent and adjacent markets/sectors and geographies
  • BAU diagnosis and assessment of the company’s business plan
  • Strategic positioning in relation to core competencies, resource allocation, prioritisation of market expansion programmes, and new technologies

Westwood’s Approach & Analysis

  • Proprietary offshore platform data tracks c.13,000 platforms globally, by country, water depth, asset size (te), platform type, status, operator,
  • Bespoke modelling exercise to evaluate market size in terms of FT equipment replacement frequency (years), volume (KMs) and expenditure ($m)
  • Definition of the company’s core attributes and competencies (its “DNA”) in order to understand its value proposition in existing and prospective markets
  • Financial and sales analysis to evaluate customer purchasing behaviours, seasonal sales variations, individual product line demand, revenue distribution by customer and geography, and upselling opportunities
  • Industry consultation with existing & prospective clients and competitors

The Outcome & Benefit

  • Redistribution of revenues to simplify and improve allocation to end-markets and customer groups
  • Highlighted immediate sector adjacencies within the company’s core geographies, including initial market penetration and execution strategies
  • An improved understanding of the risk factors and potential mitigants, timing and strategy associated with international opportunities
  • North Sea customers are expected to spend less on FT equipment over the next five years due to cost deflation and an expectation of reduced activity levels and appetite for value added services