Tell us about TS&S’ scope of work within the oil and gas sector?
Turbine Services & Solutions (TS&S) is a provider of industrial gas turbines and rotating equipment for the aerospace, oil and gas, utilities, and petrochemical industries. We are wholly owned by the Mubadala Development Company. Our Industrial division offers a comprehensive array of maintenance, repair, and overhaul (MRO) services for gas turbines and driven equipment in addition to component repair, spare parts supply, leasing, exchange and sale of engines, modules and ancillaries.
Can you tell us about some of your projects and the clientele you work with in the GCC region?
We have the advantage of being in a region with a booming oil and gas sector. Some of our major clients include the Abu Dhabi National Oil Company (ADNOC) group of companies, Qatar Fertiliser Company (QAFCO), and Yemen’s SAFER. Additionally, we have executed projects for the Abu Dhabi Water & Electricity Authority (ADWEA).
Can you highlight the company’s achievements last year and what are some of the new strategies set for 2017?
We have been working hard at expanding our existing capabilities within our industrial business to include the petrochemical industry market through servicing various types of rotating equipment, in addition to gas turbines. This includes adding a new viable option to clients by offering a new repair and overhaul capability to support the full product portfolio of industrial Trent 60 wet low emission (WLE) and dry low emission (DLE) turbines. We are proud of the fact that we are the only company in the world (outside of Siemens) to provide MRO support for the Trent 60.
How has your company come to terms with the realities of the new market conditions?
TS&S has been striving to grow across all three-identified key strategic growth dimensions: expanding across the MRO value chain, expanding geographic presence, and adding new products. We have worked to customise our services to suit current market conditions with regards to costs, deferred payments and credit facilities, including offering solutions that are suited to limited budgets.
To what extent do you think the new production cut deal will impact the market?
In the short term, we do not expect to see a major change in the maintenance budgets of clients, as most companies in the region have already taken steps to consolidate and reduce costs. In the long term, however, our hope is that oil prices will continue to stabilise. Reduced price volatility will give oil and gas companies in the region a clearer long-term visibility of their revenue, which will in turn help them forecast and build their budgets more accurately and confidently.
