Balmoral Leverages O&G Expertise into New Energy Markets
Summary
TLDRIn this interview at OTC 2024, Greg Troutwine speaks with Gary Yman of Balmoral, discussing the company's innovations and its role in the energy market. Balmoral is actively involved in various energy sectors, with recent contract wins in Mozambique, Guyana, and the Gulf of Mexico. The conversation highlights the Rose Bank project's success with Equinor and Technip FMC, and the company's strategic transition into the renewable sector, particularly offshore wind, as evidenced by their involvement in the Hornsea 3 project. Yman emphasizes the importance of collaboration, understanding client needs, and leveraging Balmoral's 40 years of experience to contribute to the energy transition.
Takeaways
- đ„ The video features Greg Troutwine from Offshore Engineer TV interviewing Gary Yman of Balmoral at the 2024 OTC event.
- đ Balmoral is present at the OTC in Houston, with a focus on meeting customers and discussing ongoing contracts, including new ones in Mozambique, Guyana, and the Gulf of Mexico.
- đ€ Gary Yman is the Sales Manager at Balmoral and emphasizes the importance of contract wins for the company's health and well-being.
- đ The Rose Bank project is highlighted as an innovative project where Balmoral worked closely with Technip FMC, a key customer, to develop a successful solution.
- đ The collaboration with Technip FMC on the Rose Bank project involved understanding their issues and working together to provide the best solution in terms of product and overall process.
- đĄ Balmoral is transitioning into the renewable sector, leveraging its subsea experience from oil and gas to offshore wind, with a focus on fixed wind and a future move towards floating wind.
- đŹ The Hornsea 3 project is a significant milestone for Balmoral in the renewable sector, marking one of the largest fixed offshore wind projects in the world.
- đ Balmoral's approach to energy transition involves adapting its tried-and-tested solutions from the oil and gas industry to the renewable sector, with an emphasis on collaboration and understanding client requirements.
- đ The company is also looking at floating wind platforms to power existing oil and gas fields, such as projects in the UK waters, as a stepping stone towards larger renewable energy projects.
- đ Balmoral is based in Aberdeen and is well-positioned to service projects off the UK coast, offering local content and production capacity to meet client needs.
- đ The interview concludes with a focus on the importance of building relationships and collaborating for positive movement in the industry, with an eye on future projects in the US.
Q & A
What event is Greg Troutwine and Gary Yman discussing in the video?
-They are discussing the Offshore Technology Conference (OTC) 2024.
What is the significance of Boral's presence at the OTC 2024?
-Boral is at OTC to meet new and existing customers, reestablish relationships, and discuss ongoing and new projects, such as those in Mozambique, Guyana, and the Gulf of Mexico.
How does Gary Yman describe Boral's approach to working with clients on projects?
-Gary Yman describes Boral's approach as collaborative, focusing on understanding the client's issues and working together to find the best solution from a product and overall process perspective.
What is the Rose Bank project, and what is its significance for Boral?
-The Rose Bank project is an innovative oil and gas project that Boral has been involved with for several years. It is significant because it represents a successful collaboration with Technip FMC, a key customer, and involves electrification in UK waters.
How does Boral engage with clients like Technip FMC on projects like Rose Bank?
-Boral engages with clients by understanding their issues, working closely with them from the early stages of the contract, and collaborating to produce a successful bid.
What milestone did Boral recently achieve with the Hornsea 3 project?
-Boral achieved a milestone by transitioning into the renewable sector, specifically into offshore wind, with the Hornsea 3 project, which is one of the largest fixed offshore wind projects in the world.
How does Boral plan to leverage its experience in the oil and gas industry to the renewable sector?
-Boral plans to transfer its subsea knowledge and experience from oil and gas to the offshore wind sector, focusing initially on fixed wind and then moving towards floating wind technologies.
What is Boral's strategy for energy transition and its role in it?
-Boral's strategy involves identifying the need to transition, leveraging its 40 years of experience, and collaborating with clients to understand their requirements while also boosting production capacity to meet their needs.
How does Boral see the future of floating wind platforms in the context of energy transition?
-Boral sees floating wind platforms as a stepping stone towards powering existing oil and gas fields and as a test bed for innovation and current technology, with the potential to play a strong part in the UK's energy transition.
What are some of the specific projects Boral is looking forward to being involved with in the US?
-Boral is looking forward to being involved with projects on both the east coast and the west coast of the US, working with the same clients and developers as in other regions.
How does Boral emphasize the importance of relationships in its business approach?
-Boral emphasizes the importance of relationships by focusing on collaboration, understanding client requirements, and building strong local content to service projects effectively.
Outlines
đ€ Boral's Presence at OTC 2024 and Contract Wins
Greg Troutwine interviews Gary Yman from Boral at the OTC 2024 event. Gary discusses Boral's delight at being back at the event, highlighting their engagement with both new and existing customers in the US. He mentions ongoing and new contracts in Mozambique, Guyana, and the Gulf of Mexico, emphasizing the region's importance to Boral. Gary also appreciates the significance of contract wins for the company's health and discusses the innovative Rose Bank project, where Technip FMC was appointed as the SURF contractor. Boral's collaboration with Technip FMC to understand and solve issues, and their focus on overall cost and process efficiency in subsea projects, are highlighted.
đ Transition to Renewables and the Hornsea Project Milestone
The second paragraph delves into Boral's strategic transition into the renewable energy sector, leveraging their experience from the oil and gas industry. Gary Yman speaks about the company's identification of the need to transition several years ago and their subsequent move into offshore wind, with a particular focus on fixed wind projects. He discusses the successful completion of the Hornsea project with Ărsted, emphasizing the company's customer engagement approach to understand and address project requirements. The conversation also touches on the adaptability of the industry and Boral's role in energy transition, including the potential for floating wind platforms to power existing oil and gas fields and Boral's readiness to contribute to such projects in the UK and possibly in the US.
Mindmap
Keywords
đĄOffshore
đĄInnovations
đĄEnergy Markets
đĄBoral
đĄTechnip FMC
đĄRose Bank Project
đĄElectrification
đĄRenewable Sector
đĄHornsea 3 Project
đĄEnergy Transition
đĄCollaboration
Highlights
Greg Troutwine interviews Gary Yman from Balmoral at OTC 2024.
Balmoral is participating in OTC in Houston with a focus on energy markets.
Balmoral has customers in the US and is managing several big contracts.
New contracts in Mozambique and Guyana, emphasizing the company's global presence.
Gary Yman discusses the importance of the Rose Bank project and its innovation.
Technip FMC is the SURF contractor for Rose Bank, a key customer for Balmoral.
Balmoral's collaborative approach to problem-solving with clients like Technip FMC.
The Hornsea 3 project marks a milestone in Balmoral's transition to renewable energy.
Balmoral's strategy to leverage oil and gas experience in the offshore wind sector.
Orsted's satisfaction with Balmoral's delivery for one of the world's largest fixed offshore wind projects.
Balmoral's adaptability in the energy transition and its role in the industry.
Floating wind platforms as a stepping stone towards renewable energy in oil and gas fields.
Balmoral's local content and service capabilities based in Aberdeen.
The company's 40 years of knowledge and experience in energy transition.
Balmoral's potential involvement in US renewable energy projects on both coasts.
The importance of collaboration and building relationships for future energy projects.
Transcripts
[Music]
this is Greg troutwine with offshore
engineer TV and we're here at the OTC
2024 and we're very pleased to be joined
by Gary yman of Bal moral to talk about
this company its Innovations and its
place in all energy markets so Gary uh I
know everybody knows B moral why don't
you just give us a little production of
yourself in the company yeah well
firstly Greg thanks for coming to join
us this morning we are delighted to be
back here at UTC Houston in our usual
spot here within the the UK Pavilion uh
Boral delighted to be here we've got a
number of customers here in the the US
so it's good to meet new faces and
reestablish relationships with existing
customers that we've perhaps not seen
for a period of time we' have a number
of big contracts that are being managed
out of Houston uh at this time we've
just picked up some new contracts in
mosambi we picked up some new contracts
in in Guyana as well as here in the Gulf
of Mexico so this region of the world
remains very important to us hence the
reason we're back here at UTC again okay
well as a sales manager contract wins
are very important to the health and
well-being of everyone in the
organization which I very much
appreciate so you know there have been a
lot but can you dive into uh the rose
ban project because I know that's a very
Innovative one for yeah the rose Bank
project H has been on our radar for a
number of years uh uh the project has
has overcome a number of hurdles to
actually come through to to fruition uh
fortunately for us equinor uh appointed
Technip FMC as their their surf
contractor techn is a very important
customer to us so we engage with them at
really early stages of the contract and
worked closely with them to um produce a
solution that uh that worked for them
that allowed them to be successful in
their bid going forward with with
equinor uh as I say we we work closely
with our clients in particular technique
on on this project where we actually sit
down and try to understand some of their
issues uh how we can solve that issues
how we can work together uh to get the
best solution on the table not just from
a product perspective but looking at the
overall cost and the overall process
that they actually have to go through on
these subsy projects so it takes a bit
of time a bit of collaboration uh but
more often than not you get a positive
result uh so yeah Rose bank is is a
great project uh there will be some
electrification on on that project in in
due course which is a good step forward
uh in UK Waters and in oil and gas uh so
yeah we look forward to real successful
contract with Technip FMC W that's
excellent so you know Gary we we could
probably sit here and talk all day and
all night about your projects because I
know B Morrow is very active uh in all
energy sectors offshore energy sector
globally uh but there I understand there
was an important Milestone recently with
the horn SE 3 project could you discuss
that a bit Yeah well as a business we we
identified the need to transition into
the the renewable sector some time ago
uh five six seven years ago probably now
certainly pre pandemic time uh using all
our subsi experience or subsi knowledge
that we have from oil and gas and
transferring that that knowledge into
the the offshore wind uh particularly
fixed wind uh with a view to to moving
towards floating as you can see in the
booth behind me we're demonstrating a
number of products that that have
actually transitioned across very easy
transition for us into the renewable
sector so again we take through the same
philosophy uh as we've used within oil
and gas we sit down engage with our
customers and try understand their
issues we did exactly the same with orad
at the at the time orell as their
perhaps uh pronounced uh in Europe uh
went through uh quite a prolonged
process to make sure that they were
satisfied that we could deliver for for
them on what will be one of the largest
uh fixed offshore wind uh projects in
the world so yes we were delighted to
get that one uh across the line and
again we look forward to uh engaging
with the team in due course to to make
sure we deliver on time and full you
know you talk about offshore wind we're
standing here in Houston the oil and gas
capital of the world again you're seeing
a lot of uh adaptability and long-term
strategic thinking throughout the
industry um as it applies to a b moral I
guess how do you approach this uh this
energy transition and your role in it
yeah well as I said we identified the
the need to transition across we uh in
UK Waters we we now see projects uh in
tog for example where they're they're
putting some floating wind platforms to
actually power up the the existing oil
and gas Fields so that is a good
stepping stone towards the the Scotland
uh project that they have there in UK
Waters uh really a test bed for for both
Innovation and current technology so uh
hopefully we we'll play a strong part of
that within the the UK strong local
content aspect to to that projects as
well being based in Aberdine we can we
can service these projects just off the
the the UK Coast as as we're doing with
with orad but again it's important just
to collaborate get together understand
the client's requirements whilst we're
doing that we can also boot production
capacity for them as well to make sure
that we can actually deliver on their
jobs and indeed they can get the supply
chain tied in to their requirements
going forward in the future as well so
energy transition extremely important
for us a lot of knowledge there and
experience is been built up over 40
years that you know is quite an easy
transition for us a lot of tried and
tested Solutions uh you know that will
really fit quite well within the
floating wind sector going forward then
we can take some of that technology here
to the us as well and there's a number
of projects both in the east coast and
the west coast of the states so
hopefully we'll be involved with them as
well same clients same developers uh so
it's important that we have that
collaboration build the relationships
and then we we can all move forward very
positively okay well Gary it's all about
relationships and moving forward so
again we appreciate your time we look
forward to visiting with you again in
the future no no problem GRE and thanks
again for visiting us today delighted to
have you here thanks a lot cheers thank
you
[Music]
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