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Business & Economy

Increase in business for NOF Energy members

The Durham-based business, which was publically funded until 2006, supports its 480 members using industry introductions and intelligence, marketing assistance, networking and international visits, which has resulted in at least an additional £250 million worth of contracts for its membership.

Originally a trade association for the oil and gas industry, NOF Energy has evolved into a multi-sector organisation that has been championing diversification for the past decade and has successfully helped its members transfer skills into new and emerging markets, both domestically and internationally.

The organisation, which has developed strong partnerships with a large number of international companies, has facilitated more than 6,000 introductions for members, led 59 overseas market visits and had 25,000 delegates attend its 750 events.

George Rafferty, Chief Executive of NOF Energy, said: “Over the past ten years NOF Energy has supported the growth of supply chain companies at all levels within the industry and reaching the quarter of a billion pound mark is a landmark that we are very proud to have reached.

“We have developed meaningful relationships with large multinationals and Tier 1 companies that have enabled us to recommend and introduce smaller supplier chain businesses that would normally have been unable to get their foot through the door.

“One of our key strengths is our team’s ability to predict opportunities and trends within the industry. We started encouraging members to diversify in 2006 whereas the industry as a whole only adopted this approach very recently following turbulent oil prices. This means that the majority of our members are protected from cyclical variations and are working across a number of sectors.”