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ESVAGT prepares for growth

Press Release   •   Jan 29, 2018 13:03 GMT

“We expect 2018 to be better than 2017. The market is ripe for a rebound,” says ESVAGT’s Chief Commercial Officer, Søren Karas.

The first half of 2018 brings increased activity and ESVAGT is primed and ready to seize the new opportunities. 

After several years in which the core business has been under intense pressure, the forecast for 2018 predicts fewer dark clouds on the horizon. The more stable oil price will positively influence activity levels in both the Norwegian and British markets, and ESVAGT is ready to seize the opportunities that it will bring:

“We are well prepared. We showed due diligence during the downturn, trimming and adapting the organisation. At the same time, we gained market share despite the difficult market conditions, which puts us in a good position to take our share of the upturn that is coming,” says Søren Karas, Chief Commercial Officer at ESVAGT.

Agile and fast

The crisis years have brought changes to the industry, in particular to the oil and gas sector. Many of the largest players in the business have changed how they work, which is something that ESVAGT has had to address:

“The tendency over the last few years has been for fewer long term contracts. Many of our customers now look for increased flexibility because of the uncertainties in the market. This means that at times we have to work in almost spot-market conditions with quite significant fluctuations,” says Søren Karas:

“We need to be agile, fast acting and ready to change. Although the forecast predicts growth, the market is still very competitive and other suppliers also have a large appetite for the opportunities that increased activity will bring,” he says.

About ESVAGT

ESVAGT is a dedicated provider of safety and support at sea, founded on an experienced and well-trained offshore crew and unmatched rescue capabilities.

We support the offshore Oil & Gas industries with a wide range of specialized services: Standby, Emergency Response and Resque Vessels (ERRV), Oil spill response, Firefighting, Tanker assists, Rig moves, Supply services and Interfield transfer of cargo and personnel.

In 2010, ESVAGT brought the dedicated offshore wind Service Operation Vessels (SOV) to the market. The SOVs provide accommodation for technicians, spare time facilities, offices and conference room, storage for small turbine parts, workshops, etc. The SOV offers flexible personnel and equipment transfer capabilities by either Walk-to-Work gangway system or Safe Transfer Boats.

ESVAGT was founded in 1981 and has a fleet of more than 40 vessels and approximately 900 employees on- and offshore.