Balmoral Leverages O&G Expertise into New Energy Markets

Summary

In 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

• 🎥 The video features Greg Troutwine from Offshore Engineer TV interviewing Gary Yman of Balmoral at the 2024 OTC event.
• 📍 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.
• 🤝 Gary Yman is the Sales Manager at Balmoral and emphasizes the importance of contract wins for the company's health and well-being.
• 🚀 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.
• 🌐 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.
• 💡 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.
• 🌬 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.
• 🔄 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.
• 🌊 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.
• 📈 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.
• 🔗 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.