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Brighter prospects in Norway after some tough years in oil staffing

September 29, 2017

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oil-shipyard

Workforce staffing companies were some of the first affected by the oil crisis. But in the last year signs of growth are returning to the Norwegian market and NES has outperformed in the region despite the tough conditions.

In recent years, the oil industry has been characterised by crises and cuts. Companies that hire consultants and other personnel were among the first to notice the decline.

Oil companies were increasingly concerned about reducing costs. There were far fewer staffing requests, and prices were pushed down, but last autumn things began to turn and this can be demonstrated particularly in the Norwegian market.

 

Oil staffing revenue - All figures in millions of kroner.

NES bucks the trend!

NES is the only company that had higher revenues in Norway in 2016 than 2015. The company also conducted a major Norwegian acquisition in autumn 2015.

 

NES V’s Norwegian competitors - (Profit before tax)

 

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