Change in top-level structure
Fugro implements a new top-management hierarchy and moves from a divisional to a regional structure. The Executive team now includes the Group Directors of the four new regions: Americas; Asia-Pacific and Australia; Europe and Africa; and Middle East and India. This important strategic change enables us to achieve operational efficiencies and further cost reductions.
Seabed Geosolutions ‘held for sale’
As part of Fugro's strategic focus on divestment opportunities for non-core assets, we step up our efforts to sell Seabed Geosolutions to support its ambition to capture the opportunities of a growing ocean bottom node (OBN) seismic market.
Path to Profitable Growth strategy announced
Fugro’s Path to Profitable Growth strategy is based on three objectives:
- Capture the upturn in energy and infrastructure – population growth, urbanisation and ageing assets are driving the infrastructure markets in most of the countries where we operate
- Differentiate by integrated digital solutions – we are fully leveraging technology developments in the field of robotics, connectivity and advanced analytics in order to offer safer, faster, more efficient and higher-quality services
- Leverage core expertise in new growth markets – we are well positioned to leverage our existing expertise in areas such as hydrography, levees, weather forecasting and early warning systems
Marine light construction and installation activities divested
Fugro divests its non-core trenching and cable-laying business to Global Marine Group (GMG), a leading supplier of subsea cable installation and maintenance services. This enable us to participate in a more diversified business where cable installation services are complemented by long-term telecoms cable and wind farm maintenance services and sales of subsea telecoms systems. Twenty-three of our Aberdeen-based employees are transferred across and we become GMG’s preferred provider of site characterisation and asset integrity services.
Four global business lines defined
Fugro regroups the geotechnical, survey and subsea services activities into Marine and Land divisions, each of which has two business lines: Site Characterisation and Asset Integrity. This allows us to leverage synergies more effectively between our services and provide a superior integrated service to our clients.
Roames acquisition repositions our Geospatial business
Roames (Australia) joins the Fugro portfolio as a specialist in high-resolution mapping services and solutions for the electric power distribution sector. The acquisition supports the repositioning of our Geospatial business line as a solutions provider rather than a data acquisition provider.
RailData purchase builds our corridor mapping presence
Fugro acquires RailData (Netherlands) to help build market share in corridor mapping. A leading expert in measuring the absolute and relative position of railway tracks, RailData uses a unique cutting-edge device to measure data in three dimensions.
Most of Geoscience division divested
Following a review of Fugro’s marine streamer seismic data acquisition business and associated activities, we divest most of our Geoscience division to CGGVeritas so that we can exit the capital-intensive and volatile seismic segment of the oil and gas exploration market. However, we retain the division’s multi-client library and OBN business.
New joint venture established
Fugro and CGGVeritas enter into a Seabed Geophysics joint venture (Seabed Geosolutions), which immediately becomes the market leader in seabed geophysical activities. It includes both companies’ OBN businesses, plus CGGVeritas’s transition zone, ocean bottom cable and permanent reservoir monitoring activities. Our services portfolio becomes more balanced as a result.
TSMarine (Australia) acquisition strengthens subsea services
Fugro acquires TS Marine (TSM), a specialist provider of subsea construction, inspection, repair and maintenance, as well as light well intervention. The acquisition leads to substantial synergies and enables us to strengthen our subsea services business in support of the offshore oil and gas industry, with a particular focus on Asia-Pacific, Europe and Africa.
Bringing Seabird OBN into the fold
Having provided remotely operated vehicle (ROV) support to Seabird's OBN business for several years, Fugro decides to buy the business, with source vessel capacity chartered from Seabird to support the OBN operations. The OBN method is the only way to gather seabed 3D and 4D (time-lapse reservoir monitoring) multicomponent seismic data in deep water and around obstructed areas.
Two business awards
HRH Prince Willem Alexander of the Netherlands presents Fugro with the King Willem I Prize, a national award recognising companies that excel in courage, initiative, perseverance and innovation. We also receive the Henri Sijthoff Prize from Het Financieele Dagblad, the Dutch financial daily newspaper, for the quality of our financial reporting.
We continue to acquire companies from all over the world to obtain more state-of-the-art technology and increase our market share:
- Geotechnical division – brings seven new companies onboard, specialising in earthquake hazard assessment, road and pavement management, and water management
- Survey division – acquires five companies with activities including pipeline inspection and satellite mapping techniques
- Geoscience division – buys six companies with expertise in electromagnetic exploration, data storage, geochemical analyses, gravimetric surveying and the digital reconstruction of seismic data
Modernising and expanding the fleet
Vessels play an important role in the activities Fugro carries out for clients. In anticipation of growing client demand for ultra-modern equipment, we embark on a 3-year programme to modernise and expand our fleet, including by purchasing five seismic vessels and five multipurpose vessels. Fugro’s fleet now comprises around 45 vessels, some we own and some that we have chartered. One of the objectives of this programme is to achieve a good geographical global spread.
Fugro Academy opens its doors
Fugro Academy creates and delivers worldwide training for Fugro employees to support their work at Fugro. It aims to establish a consistent training approach and global standards of competence for the workforce. As well as specialised technical programmes, local and regional courses are available on topics including leadership, project management and general management.
Thales Geosolutions acquisition strengthens offshore survey position
With 1700 employees in 30 branches turning over EUR 240 million a year, Thales Geosolutions is Fugro’s largest acquisition yet. As well as strengthening our position in offshore survey, this move adds new activities to our roster, including the development of ROVs and deepwater diving operations in Brazil.