Process control and instrumentation consultancy Core has seen its work levels overseas increase from 10% to 40% of its business over the past year as a result of concerted efforts during 2015 and 2016 to diversify the business.
The firm is predicting further growth in revenue and its 27-strong workforce in 2017 as it continues to work alongside major oil and gas operators to enhance production efficiencies and reduce costs.
Subscribe to our daily newsletter
Why? Free to subscribe, no paywall, daily business news digest.
Established in 2006, Core provides a full range of control and instrumentation services to the upstream oil and gas industry. It supports major operators to maintain and improve the safety and optimise production of oil and gas installations worldwide.
Focusing on developing the business internationally, Core aims to have 50% of its turnover in the year to end 2017 made up of exports, whilst maintaining its UK market share. This focus has already seen Core secure a number of recent projects with Tullow Oil, BP, Occidental, Idemitsu and Maersk, around the world, including in West Africa, Vietnam, Dubai, Qatar, Malaysia and Brazil.
Managing director Ian Findlay said: “This is an exciting time for Core as we celebrate 10 years of business, returning to growth during 2016 and looking forward with optimism to 2017 and beyond. We have achieved significant success toward our strategy of diversifying our offering to meet the requirements of the industry. We’re confident that our focus on providing our services internationally will lead us to further growth.
Leading this growth will be the expansion of its Asset Lifecycle System tool – cALMS™ into overseas markets. The application was born from an industry requirement for a simpler and more cost-effective way of presenting large quantities of data to its customers when managing obsolescence. It was designed to improve management of an asset’s lifecycle, providing desktop access to a web-based ‘real time’ database of an asset’s equipment and components.
cALMS™ has been used by a number of Core’s blue chip clients in the UK to manage their assets, offshore and onshore, delivering demonstrable savings of up to 45%. The proactive nature of the system allows the user to readily identify risks, up to five years in advance, to their asset’s performance allowing early and planned mitigation of those risks.
Ian added: “Our engineering expertise, specialist cALMS™ software and collaboration with other industry leaders position us well to continue to expand our lifecycle services for both existing and new clients.”