Aiming to accelerate our growth in the Oil & Gas market through a more integrated approach, Prysmian Group has established the new Oil & Gas Business Area, effective as of January 2016.
Entrusted to Cristiano Tortelli, who joins the Group as Senior Vice President, the Oil & Gas Business Area will include the Oil & Gas Business Unit – previously part of Energy Products – and the SURF Business Unit, originally included in Energy Projects. The goal of this new organisational structure is to position Prysmian Group as one of the key global suppliers in the Oil & Gas market, from Subsea (Umbilical & Flexible Pipes) and Down-hole technology, to the Core Cables products portfolio. Technology will play a key role in meeting the new industry challenges, supported by a strong and multicultural project management organisation. In the context of today’s oil prices, collaboration with Major and National Oil Companies and industrial service providers will be a key strategy in redefining the new industry standards, as well as a means to simplify the way capital projects are executed.
Working together to design a fit-forpurpose system is the message that the new business area plans to promote to their customers and partners.
With aggregate revenues of around 400 Million Euro, the new Oil & Gas Business Area can boast a well-established market presence in North America, Brazil, Europe and in the Asia-Pacific region. The main production facilities are located in several countries: Norway, Italy, Turkey, China, Spain, Malaysia, Brazil and US.
Cristiano Tortelli is excited to be taking on the challenging task of leading Prysmian Group’s Oil & Gas Business Area, as “the extremely wide range of solutions it offers can meet the most demanding requirements and thus expand the market share of the Group in this strategic space”. The core product offer includes complex and integrated power, control and instrumentation cable systems from Upstream – both onshore and off-shore – to Downstream.
For Subsea applications, our SURF (Subsea Umbilicals, Risers and Flowlines) portfolio is well complemented by our offering of Down-hole products. The latter has been further broadened and strengthened thanks to the acquisition of Gulf Coast Downhole Technologies. Cristiano Tortelli is “extremely confident” that Prysmian Group “will be able to accelerate growth in this attractive highvalue business, thus increasing its exposure to high-tech segments”. He also stated that the aim is “to improve Customer proximity by leveraging our global footprint.”