CLUTCH OF CONTRACTS WORTH $110M MARKS STELLAR YEAR FOR ARAMARK OFFSHORE
Source: Energy Voice
Managing director for the division, Andrew Thomson, told Energy Voice that “without doubt” the last 18 months had been the most challenging of his 15 years at the facilities and catering group, as the industry worked to keep its services – and energy supplies – moving.
However, while challenges remain, he believes it has been “a really rewarding period.”
So much is reflected in the offshore division’s results, having secured 11 new contracts across nine regions over the course of the year.
Head of sales, Alistair Robertson, pointed to over $30 million (£22.5m) of growth in fiscal 2020-21, including three new clients, as well as over $80m (£60m) worth of clients retained, the latter being “far more important” for a catering services provider, he said.
This extends operations to 23 new locations, including new global drilling contracts for rigs in the UAE, Qatar, Saudi Arabia and Trinidad & Tobago.
Early 2021 also saw the group sign a new five-year contract with TotalEnergies to take over services across six platforms, including Culzean, Ailsa FSO, and Gryphon FPSO.
“The fiscal year we’re just exiting is about the best we’ve ever done,” Mr Roberston said, despite the depressed commodity prices.
Indeed, the changeable market throughout 2020-21 meant that many contract extensions options were not exercised, opening opportunities for Aramark to grab new business,
At the same time, it also meant acting to “protect very heavily” the company’s existing relationships, he added.
Meanwhile increased consolidation in the drilling market does not appear to have harmed the company’s prospects. Added Mr Robertson: “It opens up new geographies for some of our current client base, and actually re-enters markets that some of these clients and drilling contractors looked to exit previously.”
However, as assets are divested, a single operator’s portfolio could be taken over by several new owners. Aramark may therefore find itself with the same number of assets, but now working with a much larger pool of clients, creating its own challenges.
As it stands, the division now has more than 30 clients in its portfolio.
Looking to the coming year, Mr Thomson said personnel on board (POB) figures remain high across the business, and based on the current activity levels “we should be entering this next year with confidence.”
Crucially, while other offshore services were cut back during the pandemic, hotel and catering has stayed relatively constant owing to the increased need for cleaning and anti-COVID measures – as borne out by Oil & Gas UK’s most recent Workforce Insight report.