Our strong foundations in Norway have been instrumental in our development and growth in the offshore sector, globally. With many of our customers pioneering those early days in the North Sea it allowed us, as a technology company, to follow them as they expanded into new markets.
I would say that our customers have consistently demonstrated bravery – offshore is that kind of industry. Whether that’s by adopting new operational methods, embracing cutting-edge technologies or venturing into challenging overseas markets, there’s an element of risk and uncertainty. The initial risk of offshore drilling was considerable. Harsh environments and unknown territories required innovative solutions and robust vessels to withstand the challenges.
Our journey alongside our customers and their clients, the energy companies, has been one of mutual growth, innovation and shared risks. As a technology provider, we have been integral to the offshore industry’s development, continuously pushing the boundaries of what is possible. We all know that this is a cyclical industry, and I have experienced several of the ups as well as the downs. But there is always opportunity to evolve and to innovate, and to be ready for what comes next. From a strategic point of view, KONGSBERG’s acquisition of Rolls-Royce Commercial Marine in 2019 was significant. Combining competencies from both companies strengthened our ability to develop future-proof solutions for customers including for new builds and vessels in operation. This investment brought a new range of products and technologies, perfectly complementing our established capabilities.
Today, we have unrivalled scope across offshore, continuously exploring and developing new technologies and customer-centric solutions. Despite the oil and gas sector’s downturn over the past decade, we invested in technologies to support offshore wind and renewable industries, resulting in innovations now applicable to oil and gas operations.