Our CEO, Jørgen L. Jørgensen gives his analysis of the market and his thoughts on the future for Moreld Ross Offshore. Blue skies ahead!
We meet our CEO at the Moreld Ross Offshore office in Sandefjord, where he squeezes us in between meetings and coaching his sons handball team. Jørgen is just one of those people who finds time for everything, but never looks stressed. He holds both the position as EVP of Moreld Energy Solutions and is CEO of Ross Offshore. Furthermore, he is exceptionally social and just loves to meet his colleges, consultants or clients. Jørgen is known to be last man standing at social events, and first one in the office the next day. What is this guy made of?
I think it is all about passion. I have a great passion for what I do, so for me work fills up my batteries rather than draining them. This is much because of my fabulous colleagues, no wonder we call them Ross Stars! Also, I am all about having fun. Whether it is working on an exciting project, hanging with my family or being with my colleagues, I try to bring positive energy, and I get energy right back.
All in all, we have managed well through the pandemic. Our numbers speak for themselves, we increased our revenue by 34 % from 2020 til 2021 and our bottom line almost doubled. Our Ross Stars did a great job and showed flexibility and the ability to change fast.
However, working from home was a challenge for some, especially our young and promising recruits. We are known to give new employees a lot of responsibility, but that requires close mentoring from senior Ross Stars. So we got through it, but are very happy to be back at the office working together again.
The world has become more unpredictable. The ongoing war has given world leaders a wake-up call regarding their dependence on energy from Russia. The demand for energy will continue to grow, the world has to find the best combination and most sustainable energy solutions for the future.
This is a complex situation, as politics, business and the need to reduce emissions are in a constant imbalance. At the moment, political leaders have had to prioritize short term solutions, like increasing the gas production and export from Norway.
I do not think this is the best solution for the oil and gas industry, but at the moment they have no choice. The high oil prices influence how companies now prioritize their projects, so we see faster shifts in projects and contracts than ever before. For us, this means we need to be able to change and adapt fast. Because the only thing we know for sure is that things are in constant change.
Being a service provider across the whole lifecycle of the oil field, we are fortunate. This means we can put our competent Ross Stars to work where the demand is highest. At the moment we see a high demand for the competence we hold in our Subsurface team, especially in Reserves validation. Together with ERCE, we are approved by Norwegian banks to audit companies and reserves, and we have some of the best people in the industry, playing an important part in large transactions.
Furthermore, our Marine department has a high demand for analysis and our Drilling and Well department is kept busy with well interventions until the market for service providers will explode in 2023. That’s my prediction, anyway.
People are most important. Our people are our main asset, and we must make sure we have the right competence, the right team players and people who can handle change. I'm proud to say that our Ross Stars are all of the above.
The challenge moving forward is to keep finding and attracting the best people. A solid economy is also important. We are at a place now, where we have a stable economy that enables us to invest in both our people and innovations.
The third success factor I want to emphasize is culture. We want to be a place where people want to work and where they want to stay. We take our pride in building our Ross Stars, to give them chances to grow through great responsibilities paired with mentoring.
Also, one of our values is “social”. We have a down-to-earth culture, where having fun together is much more important than being formal and correct all the time.
First of all, being in the oil and gas industry I think it's important not to try to sugarcoat anything. The world is dependent on energy, and right now, the only short-term option to increase production outside the oil sector, would be to fire up coal mines. Then gas production on NCS is a much better option.
We are proud of what we do and how we contribute to bringing energy to the people. Our focus is on how we can do what we do in the smartest possible way – and how we can contribute with our competence in making the future a little greener. We call it Ross Green Steps, which basically means we take one step at a time.
CO2 Storage is one area where we have high demand. Our experts have helped clients, both on the NCS and internationally, to ensure safe storage of CO2 since 2010.
In the renewable department, offshore wind is an area we look into, to see how we can be the best service provider in that area in the future.
I think oil & gas production will be here for many years to come. Though, I think and hope the growth will stop. I think it is realistic to predict that all the future growth in the energy sector will come from renewable sources.
I think we have blue skies ahead. We have to be ready for clouds at all times, as the last two years have shown us, but I think the arrows will keep pointing upwards for us.
We will continue to grow organically. We will continue to be a safe and fun workplace where our Ross Stars can rise and prosper. We will be best in class when it comes to smart interaction and great cooperation. Efficient, developing, and never forget …FUN!