Beyond Oil & Gas

After the tumultuous events of 2020, the oil and gas industry has an unprecedented opportunity to reshape itself. The COVID-19 pandemic and the negative turn in oil prices in April created a low supply, low demand environment that helped accelerate diversity in the sector, with service providers joining IOCs and NOCs in building a future in the energy business.

The oil and gas sector was already moving toward great change before the pandemic as major oil and gas entities, such as Shell and BP, addressed the impacts of climate change, which meant that it was necessary for them to become energy companies and not just hydrocarbon suppliers. With the developments in 2020, the sector’s service providers are ramping up similar strategies.

Among the best examples of this change is Fugro. The service provider has enjoyed a strong participation in the oil and gas industry. In recent years, however, it became obvious that its technologies, equipment and expertise have a great deal to offer to a number of other sectors.

Fugro provides options to operators regarding remote monitoring and its services have been needed in industries such as infrastructure. Companies are now looking for more reliable ways to manage their assets with fewer onboard personnel. This includes having more automated options. As a result, Fugro’s technologies, particularly those developed for the offshore sector, have entered a period of very high demand. Last year in November, company CEO Mark Heine declared in an interview with Effect magazine that, “Fugro is no longer defined by oil and gas.”

In an interview with MBN, Fugro Mexico Country Manager Pedro Regino expressed the company’s evolving strategy. “Our vision is to become the specialist in geo-data for our clients in oil and gas, infrastructure and other markets. Our goal is to deliver solutions that enable design, construction and asset monitoring in a safe and sustainable way. In Mexico, the entirety of our operation is dedicated to the oil and gas sector where we support exploration, field development and construction. What we are seeing at a global level is that the oil and gas sector accounts for half of our revenue and we are seeing a rapid worldwide increase in the area of renewable energies like wind, solar and others.”

Regino pointed to the ongoing transition among traditional sector companies toward new areas, specifically clean energies, and said Fugro was ready to make an impact: “There has been a gradual transition in many parts of the world where some traditional oil companies are changing their portfolios toward renewable resources and Fugro has quite a lot of experience worldwide participating in this market, especially in Europe and the US. Mexico has started its transition and advancing in sustainable energy goals. We know it is a long road but we expect to see the development of more projects in this industry like offshore wind farms where Fugro is in a great position to bring this experience to the country.”

Fugro is the world’s leading Geo-data specialist, collecting and analyzing comprehensive information about the Earth and the structures built upon it. Adopting an integrated approach that incorporates acquisition and analysis of Geo-data and related advice, Fugro provides solutions. With expertise in site characterization and asset integrity, clients are supported in the safe, sustainable and efficient design, construction and operation of their assets throughout the full lifecycle.