Commentary by Robert Jay Abercrombie, CEO, TCO.
As we approach the end of the year and look forward to the festive period, I want to take this opportunity to reflect on the last twelve months. It has been a year of change, and one where we have refocused our vision and operations as we continue to redefine well solutions.
To support our operations, the business has undertaken a period of significant and strategic recruitment, enhanced our product offering and increased our customer engagement, including global event attendance. Due to this approach, the last 12 months have delivered several new business wins that highlight our ongoing focus within key markets and regions.
It has also been a year of operational reviews and one that saw us also take the decision to close our Bergen CNC facility, in a move that highlights the company’s reorganisation. This reorganisation is illustrated further with an entirely new senior management team now in place to support our future growth.
TCO’s success to-date has been built on an approach that integrates a high-level of service, with the very latest in technological innovation. This is a concept and a way of working that all of our team value and continue to embrace. By continuing to do so, we can ensure the delivery of enhanced well production while reducing operational risk for our customers.
Our products continue to meet sector requirements
This year has seen significant demand across our suite of products. Not only that, but a rise in activity has seen us build on our position as one of the industry’s leading suppliers of completion barrier plugs and advanced downhole chemical injection systems. The interest in our barrier plugs has grown significantly during the last 12 months, with several large orders placed. Our Tubing Conveyed Perforating services have also seen increased demand, most notably within the North Sea.
Now more than ever, industry operators are looking to deliver the best possible outputs in the most efficient way possible. Our focus has always been on fast, safe and easy installations, ensuring success for our clients. This approach has delivered enhanced well performance for our customers across the globe during 2022, meeting ever-changing sector requirements in the process.
Senior hires maintain our strong foundation
Towards the end of the summer, I was delighted to announce the appointment of Henriette Bringsvor as our Global Sales Manager.
Her initial remit was to focus on the development of a strategy to support our organisational growth within key markets, including in target regions like South America and The Middle East. The impact her role has made on the business is already beginning to deliver significant results, so much so that she was promoted to Vice-President of Global Sales towards the end of this year. Henriette epitomises the commitment, drive and talent of all our employees, and I would like to take this opportunity to thank both her, and all our workforce, for their hard work and dedication this year.
Following Henriette’s appointment, I was also delighted to announce the appointment of a new senior management team at TCO. I believe that the scale and seniority of these appointments illustrate that we are well on our way on the next stage of our journey.
The appointments are: Rolf Tefre, Chief Financial Officer, Geir Melhus, Vice President Operations, Ole Petter Waage, Vice President Production and Tommy Eriksen, Vice President Technology.
Our people are the core of our business, and we remain committed to challenging and redefining well solutions through the use of talent, experience and differentiation. Of course, from a personal perspective, this year also saw my appointment as CEO of TCO. This was a moment of real pride having spent nearly a decade at the company across varying roles. 2022 has been a year of change, reorganisation and refocusing of our strategy. I am excited to lead the company for the years to come and look forward to working with the senior management team and all our colleagues to deliver a year of growth for TCO in 2023 and beyond.
A programme of global events
While we are a proud Norwegian business, 2022 has seen us increasingly operate and grow within an international context, becoming a well-respected and trusted industry supplier as we have done so. A large part of this growth has been supported by our international event attendance. We exhibited at IPTC, DEVEX, ONS and ADIPEC this year, as well as visiting conferences in Brazil and Houston. Our annual programme of events has ensured that the team can illustrate the full value of our product range. We fully understand the importance of the energy sector’s event circuit and look forward to meeting existing and potentially new customers across the globe in 2023.
Looking towards 2023
2022 has been a year of positive change, both for TCO as a business, and for me personally. As a business, all of those associated with the company can look back on a year which has seen us refocus on TCO’s key competencies: the skills of our people and the company’s technology. This focus saw our initial growth and we are committed to embracing the attributes that helped to position us as an industry leader as we move forward.
But we will never be complacent and fully appreciate that we must all continue to work hard over the coming months, supporting the requirements of the energy sector as we do all. All of us will benefit as a result.
All that remains to be said is thank you to all our customers, suppliers and stakeholders this year. I look forward to working with you all in 2023 and I wish you and your families all the very best for the upcoming holidays.