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Fine Tubes gears up for the recovery of the oil and gas industry

Fine Tubes gears up for the recovery of the oil and gas industry
Fine Tubes gears up for the recovery of the oil and gas industry

To say that the last few years have been difficult ones for the oil and gas industry is something of an understatement. Weak demand resulting from historically low prices has made life remarkably tough right across the supply chain.

It is estimated that the collapse in oil prices, beginning in 2014, led to a global reduction in capital expenditure of some 40% over the following two years. Major projects that could no longer even come close to previously established profit criteria were deferred or dropped altogether.

Now, however, the industry may well be seeing the first shoots of a recovery. Although still well below even the post-recession high point - $115 per barrel for Brent crude in 2011 - prices appear to be stabilising at a sustainable level. Combined with the drive for efficiency savings that took place in every corner of the industry following the collapse, those higher prices are showing signs of stimulating a renaissance in activity.

The big issue for companies in the supply chain - businesses like UK-based specialist tubing manufacturer, Fine Tubes - is how to gear up for this anticipated recovery without overextending themselves.

Fine Tubes is one of the six businesses that make up AMETEK Specialty Metal Products (SMP). According to Nicholas Head, Product Manager for SMP's oil and gas offering, "We're considerably more confident about 2018 than we were about this year. We’re investing in raw materials, moving ahead of the market to support the increased demand that we anticipate in 2018. Initially, we expect to see this coming from the United States and from the Middle East shortly afterwards. We believe it will be a global phenomenon."

Matching availability to demand is critical for Fine Tubes because of the sourcing complexities involved in manufacturing high-performance tubes from specialty alloys, such as stainless steel, nickel and titanium, that are used to achieve maximum corrosion resistance and to withstand pressures of up to 60,000 psi.

"Over-ordering of raw materials, or underordering, could prove to be a costly mistake," says Mr Head. "That is why we've developed an integrated forecast system designed to support our planning and raw material purchasing. It’s a feature of our operations that sets us apart from our competitors and will undoubtedly prove critical in ensuring we take full advantage of the coming recovery."

Of course, gearing up will only reap rewards if the product is right. Fine Tubes’ unique selling proposition (USP) is its ability to meet the most-exacting customer specifications - an ability built on 75 years of experience. Today, the company manufactures tubes required for downhole, hydraulic and chemical injection control lines; subsea umbilicals; instrumentation tubing; downhole gauge cables; and pressure housings, to name a few.

Whatever the application, the key requirement is meeting the high-performance criteria required in the most hostile environments, thereby minimising the risk to the operator and reducing the ultimate cost of ownership by manufacturing to the very highest accuracy, quality and integrity.

The industry's growing optimism was evident at the recent ADIPEC exhibition in Abu Dhabi where Fine Tubes showcased its latest range of high performance products. The Fine Tubes booth experienced an unexpectedly high number of visitors and generated strong interest in the company’s portfolio of precision tubes in stainless steel, titanium and nickel alloys. Numerous successful meetings indicated a cautious optimism and that the downturn is approaching its end.

AMETEK SMP - the division of which Fine Tube is a part - is a global leader in the manufacture of a range of specialty metal products, ranging from precision metal tubes, high-purity strip, foil, ultra-thin foil, shaped wire, high-purity metal powders, master alloys and clad metals. All of the six companies within SMP are niche specialists with a record of serving the oil and gas industry. The breadth of what SMP offers as a one-stop solution provider of specialty metal solutions for critical applications is yet another string to the bow of Fine Tubes as the company prepares itself for the upturn.

PUBLISHED: 04 Dec 17 Bookmark and Share
Company:
Fine Tubes Limited
Visit Fine Tubes Limiteds website
Country:
UK
Tel:
+44 1752 876416
Fax:
+44 1752 733301
Email:
sales.finetubes@ametek.com
Website:
www.finetubes.com
Other News from Fine Tubes Limited:

»
Fine Tubes gears up for the recovery of the oil and gas industry
»
New Nadcap accreditation for Fluid Distribution Systems is the fifth for Fine Tubes
»
Securing a fourth Nadcap accreditation confirms Fine Tubes' aerospace manufacturing excellence
»
Fine Tubes and Superior Tube target Indian oil and gas market with presence at Petrotech
»
Titanium tubing experts showcase latest light weight products at Aeromart
»
Aerospace tubing manufacturers exhibit latest alloys at AIRTEC
»
Fine Tubes and Superior Tube see growing demand from the global nuclear industry
»
Fine Tubes and Superior Tube continue to extend 
their industry-leading nuclear capabilities
»
NORSOK-approved tubing for oil and gas applications at ONS 2016
»
Fine Tubes granted F4N status by Nuclear AMRC
»
Fine Tubes & Superior Tube showcase Nuclear tubing 
capabilities at the World Nuclear Exhibition
»
Fine Tubes awarded 'approved manufacturer' status 
by Kuwait Oil Company
»
Fine Tubes (UK) & Superior Tube (USA) 
are awarded contracts by Airbus
»
Leading aerospace tubing experts exhibit at AIRTEC 2015
»
Fine Tubes and Superior Tube to co-exhibit with 
Hamilton Precision Metals at MD&M Minneapolis
»
Paris Air Show: high demand for titanium tubing generated by increasing global aircraft build rates
»
Fine Tubes appoints new Procurement Specialist
»
NORSOK Super Duplex approval opens global supply chain for Fine Tubes
»
As Kuwait invests to boost its oil output, Fine Tubes wins important approval as KNPC vendor
»
Fine Tubes and Superior Tube expand operations in the Far East with new distribution partner in Japan
»
Fine Tubes and Superior Tube to exhibit at Topsides, Platforms & Hulls 2015
»
Q&A interview with Charles Ferreira, Nuclear Products Division
»
Fine Tubes - suppliers of 'fit and forget' tubing for the offshore industry
»
Growing demand for our high pressure tubing
»
Fine Tubes appoints new HR Business Partner
»
Fine Tubes to exhibit its industry-leading aerospace products at AIRTEC 2014
»
Fine Tubes demonstrates its industry-leading capabilities at World Nuclear Exhibition
»
Fine Tubes partners with City College Plymouth to provide Moving and Handling Training
»
Fine Tubes appoints new Procurement Specialist
»
Fine Tubes' latest financial results reflect strategy for planned growth in aerospace and energy markets
»
Fine Tubes chosen by FMC Technologies to supply advanced tubing for Total's Egina project
»
Fine Tubes receives additional NORSOK approval by Parker Hannifin and Statoil
»
Fine Tubes to supply precision tubing for Solar Orbiter
»
Fine Tubes appoints new agent in Kuwait as part of Middle East strategic plan
»
Fine Tubes appoints Phil Adderley as Technical and Quality Director
»
Fine Tubes relocates its Indian office 
to accommodate growing customer base
»
Fine Tubes turns to City College Plymouth to develop Management Training programme
»
Fine Tubes develops seamless titanium tubing for Airbus and Liebherr
»
Fine Tubes appoints Adrian Salle to new Sales Manager role
»
Fine Tubes lands in Frankfurt to showcase aerospace products at AIRTEC
»
Fine Tubes generates interest at Nuklea with its POWER products
»
Fine Tubes wins contract to supply hydraulic tubing for new generation of Snecma engines
»
Fine Tubes to showcase titanium tubing innovations at AIRTEC in Germany
»
Fine Tubes welcomes Graham Maxa as new Finance Director
»
From aero to space - adapting aerospace technology to meet outer space demands
»
Fine Tubes showcase high precision power tubes in France
»
Fine Tubes appoints Director of Engineering and Technology
»
Fine Tubes helps North Sea oil platforms meet demanding standards with super-resistant alloys
»
Fine Tubes opens new facility in Houston to be headed up by newly appointed Oil & Gas Business Development Manager
»
Fine Tubes helps SENER achieve results in solar power with the Gemasolar power plant
»
High demand for Fine Tubes short lead times for seamless titanium tubing at 50th Paris Air Show
»
Saudi Aramco approval for Fine Tubes
»
As Fine Tubes approaches its 70th anniversary demand continues to rise for their products and services
»
New product development keeps Fine Tubes at the forefront of metals innovation
»
Skylon testing success for Fine Tubes and Reaction Engines
»
Fine Tubes expands its client base in Russian and Ukrainian aerospace markets
»
Specialist alloy tubing tackle corrosion in topside and subsea applications
»
CERN discovers 'God' particle - Fine Tubes supplied vital cooling tubes
»
Focusing on boosting customer service


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