In a recent conversation with Channel News Asia's Roland Lim, John Gilley, CEO at Kent, addressed Kent's recent announcement of $900 million of contract wins in the first half of 2023, the current climate of the energy industry and Kent's aggressive growth strategy for the future.
Aiming to reach the financial milestone of over $100 million EBITDA by the end of 2025, the announcement of Kent's $900 million in contract wins in it's H1 results brings a feeling of confidence to the team that is seeing rapid growth in Asia Pacific, particularly, Australia, China, Vietnam and Singapore.
When addressing Kent's success in winning new work, Gilley explained that Kent is attracting a multitude of different projects, as the company strives to accelerate the energy transition.
At Kent, we regard everything that we do as energy transition, be that secure energy, affordable energy for everybody in terms of conventional energies, low carbon and renewables or in process and chemicals.
Absolutely every project, even the conventional energies project, have an element of decarbonisation to them to do them in a more efficient manner. But we've seen very strong growth in Europe for offshore wind, especially around the UK or around the North Sea. We've seen some fantastic studies that we're doing, feed studies for hydrogen in Australia and also on the petrochemical side of things in Asia Pacific as well.
Current challenges facing the industry were also explored, with Gilley suggesting that one of the main challenges facing companies like Kent remained Government policy and funding:
Governments are short lived. They have the term of four or depending on which country that you're actually in. So it's very difficult for those who need to secure votes to actually take very brave steps to introduce the types of policy that can give assurances to the international oil companies, international energy companies, to finance their projects, to actually move forward.
Curious to know what John Gilley and the rest of the team are up to next? Keep an eye out here: https://bit.ly/3EvYr6I