IN A DRAMATICALLY changing market, where oil prices have dived by more than 50 per cent and a number of majors have announced budget cutbacks, it is the companies which reevaluate how they operate that will remain strong, according to Swire Oilfield Services.

Offshore cargo carrying unit supplier Swire last year launched its inspection, maintenance and testing solutions (IMT) in response to changing market conditions.

Since the oil price has continued to fall, the company has focused on addressing the key concerns of the market, reducing costs and increasing efficiency.

Swire’s managing director for Australasia, James Parsons, said rapid changes in the market had meant the industry had been compelled to revise its costs – a move he said had driven a whole range of different thinking within Swire.

“It comes down to re-orienting and rationalising our service offering and scrutinising costs while maintaining mission critical quality,” he said.

The company said its inspection, maintenance and testing solutions aims to streamline and optimise its clients’ supply chain operations to drive efficiencies and cut costs.

According to Mr Parsons, besides providing the offshore rental cargo carrying units, IMT enabled the company to service, test and repair its equipment as well as its client’s fleet.

“Customers have unparalleled, up-to-the-minute visibility of the certification and maintenance requirements of their assets and have all regulatory inspections, maintenance and testing completed – all by one provider,” he said.

Swire operates bases in Perth, Karratha, Darwin, Exmouth, Broome and New Zealand.

The company says it is endeavouring to sit alongside its customers and understand the fluid nature of their business.

“Our significant investment in developing our North West operating base has really seen our customer relationships go from strength to strength,” he said.

Operating in 31 countries, Swire has a team of around 1,000 staff in more than 50 bases around the world.

The company has a presence in all major oil and gas regions with large operations in Europe, Africa, America and Asia Pacific.