OGC Energy is Featured in the EIC’s Survive and Thrive 2024 Annual Report 

How is OGC Energy thriving?

Now in its 10th year, OGC Energy has already made a strong statement as a key supporting player in the global energy transition. Fuelled by a culture of curiosity and bolstered by extensive expertise in materials science and corrosion, the company is enjoying a steady growth in the order book propelled by projects in carbon capture, hydrogen, and renewables as it strives to help its clients meet their individual energy transition goals.

EIC has just released its eighth annual Survive & Thrive report, unveiling crucial insights into the energy supply chain’s current landscape. The 2024 edition presents a comprehensive view, featuring feedback from 134 companies − a significant increase of 40% from last year and 100% from two years ago. This year’s report highlights the dual nature of the market: while opportunities abound, policy and geopolitical uncertainties are creating significant hurdles.

Key Themes for 2024

• Boom Times Accelerating The boom times continue in 2024, with companies facing an overwhelming amount of work. This saturation presents a challenge in choosing the best opportunities amidst an array of options. While this may seem advantageous, it raises questions about sustainability, especially with the looming threat of geopolitical instability.
• Supply Chain Contrary to popular belief, the report clarifies that the supply chain is not at fault for delays in net zero commitments. The actual issues stem from policy and funding gaps rather than the supply chain’s capacity. This finding urges a reevaluation of where accountability should lie. The report emphasises the need for the supply chain’s voice to be louder in policy discussions. Currently, policymakers tend to listen only to the largest players, neglecting thousands of smaller companies. EIC aims to bridge this gap, ensuring that the entire supply chain is heard.
• From UK to Global For the second year, the report includes insights from an equal number of British companies and those from around the world. It highlights the differences in strategies between these regions, providing a more comprehensive view of the global energy supply chain.
• Leaders Conflicted Business leaders are increasingly torn between the desire to capitalize on the current boom and the need to commit to net zero goals. This internal conflict, coupled with market instability and uncertainty about the future, complicates decision-making processes and investment flows.

Insights and Recommendations

The report calls for policymakers to better understand and support the supply chain’s role in the energy transition. Clear and consistent regulations are necessary to facilitate smoother operations. Additionally, persistent issues like payment delays must be addressed to ensure ongoing investment and expansion efforts.

The 2024 Survive and Thrive report underscores the complexities faced by the energy supply chain in a rapidly evolving market. While the industry continues to thrive, addressing policy uncertainties and improving financial practices are crucial for sustained growth and alignment with long-term environmental goals.

In the interview, Ivan Gutierrez highlighted our company’s incredible journey, detailing our strategic transition, innovative diversification efforts, and ambitious goals for the future. 

It was a privilege to collaborate with the EIC (Energy Industries Council) team and share our insights and achievements. 

We look forward to continuing our vision to facilitate the energy transition to make the world more sustainable.

For more information on the EIC Survice & Thrive Report, please visit the official EIC website. Explore our story on page 138.