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NOF plots future in tighter climate

THE trade body which represents for the North East’s oil and gas players has set out plans to expand its presence nationally and internationally, while conceding that it may have to raise its prices amid potential budget cuts.

NOF Energy has released its three-year review, which marks a period in which it has doubled its membership to 350, helped firms secure £75m in investment and helped create and safeguard over 600 jobs.

It now aims to expand into other UK regions, internationalise its membership and increase its focus on the nuclear and renewables sector - although it accepts that it may be forced to operate under tighter conditions.

Chief executive George Rafferty said: “It is absolutely vital that we recognise that due to the UK’s budget deficit, it will become increasingly difficult to secure a pubic sector income stream.

“This reality will undoubtedly mean that businesses accessing our services will have to be prepared to pay more if they are to continue to benefit from the work of NOF Energy.

“In turn we recognise that we will have to show that we add value to our members and to do so we have to continually look at ways of improving our service offering.”

The report said NOF has taken a long-term approach in helping its members access opportunities markets such as Kazakhstan, Libya and Brazil, while it is also closely monitoring opportunities in emerging markets such as Ghana.

Meanwhile, Spain, Norway and The Netherlands remain key markets for new exporters, the organization said.

[Click here](http://www.nofenergy.co.uk/editorfiles/NOF Energy Three Year Review - Opportunities & New Horizons Annual Report (4).pdf) to read the three-year review in full.

This was posted in Bdaily's Members' News section by Ruth Mitchell .