Last year Omega Subsea sent 40 consultants on assignment, at the same time this year the number is 90. Targeted work to ensure agreements and entering into new agreements in 2016 and 2017 has ensured the activity Omega Subsea is now experiencing.
Omega Subsea has in 2017 experienced growth in assignments, requests, and turnover. The activity they are now experiencing is rooted in a solid foundation that was laid during the recession in the oil and gas market.
"Our cooperation and synergy effects with Omega, combined with our established network, has enabled us to take larger market shares within our segment. We have actively used our network the past years and built solid relations and attracted highly competent consultants. Now we can see the fruits of our labor, which has materialized in jobs and assignments," says CEO in Omega Subsea, Trond Berge.
Omega Subsea is experiencing significant activity with several new contracts that have generated an increase in both assignments and requests compared to the previous year. In total, Omega Subsea estimates that the turnover for 2017 will come close to doubling that of the previous year.
Omega Subsea was established in 2014 when Omega became the majority shareholder in the company that was previously named Accpron Subsea Management.
Omega Subsea delivers personnel to subsea contractors who conduct underwater construction work, installations, ROV operations, subsea inspections and survey. The subsea teams at Omega's branch offices in Stavanger, Bergen and Aberdeen in Scotland, have gained an entry with the larger companies in their market segment, and have established themselves as the primary provider on a majority of the agreements.
"Even though we have had to adapt to a market in recession we are experiencing a good turnover due to an increased number of assignments," says Berge.
The activity and growth within the subsea sector is happening faster than Omega Subsea expected. They originally estimated growth abroad before the activity in Norway would escalate.
"The increase in activity we now are experiencing is mainly a Norwegian phenomenon. We can see that the activity in the UK has not increased as it has here. Still, we see that the cooperation with our UK office has shown results and both companies have had the opportunity to show our total competency and ability to deliver on agreements, something that we have received good feedback on. This has generated new requests that enable us to see the increase in both requests and turnover," Berge explains.