19137NOF Energy’s recent annual conference and exhibition is expected to generate in excess of £3 million of new business for delegates.

A study undertaken by the business development organisation of delegates that attended Energy: A Balanced Future in North East England in March has revealed that 52 businesses expect to win new business as a result of attending the conference.

Among those companies, nine reported expected contract values, which total £2.725 million.

Energy: A Balanced Future, which was held at Sage Gateshead, provided a platform to debate the integral role of a technology-led supply chain in achieving efficient onshore and offshore operations in the changing economics of the international energy market.

Supported by platinum sponsor North East Local Enterprise Partnership, additional sponsors include Silver Sponsor Engica and Bronze Sponsor UK Trade & Investment, the conference, which was in its sixth year, attracted high-level speakers from operators and major contractors including Apache North Sea, INEOS, Amec Foster Wheeler and JDR Cables.

Attended by more than 450 delegates, the conference and exhibition also provided considerable networking opportunities, which facilitated successful relationship development to enable new business to be progressed.  In addition to a networking reception on the first day of the event and dedicated sessions between key speaker presentations, Energy: A Balanced Future also hosted an exhibition of more than 70 companies showcasing their products and services.

George Rafferty, Chief Executive of NOF Energy, said: “I am delighted that Energy: A Balanced Future has been a catalyst for companies to win new business.  Networking is at the heart of all NOF Energy activities as it builds mutually beneficial relationships across the supply chain.

“The conference attracted a broad cross section of the energy industry supply chain that is determined to maximise opportunities from the evolving market conditions.   They embody the industry’s ambition for greater collaboration and clearly demonstrate that there are opportunities out there for forward-thinking, innovative businesses.”