Geemit is win-win for O&G

Unique business model is win-win in the industry

Geemit is based on the idea of sharing resources. The sharing economy has entered the offshore oil & gas business with intelligent and structured handling of stock facilities along with an online trading platform for surplus spare parts.

“Visualizing hidden resources and ensuring these assets are accessible to the market. That is the two faces in our business model. One is identifying and handling the unused stock items in the offshore business and the second leg is assisting in achieving the right documentation and certification to resell the parts again. It is all about creating value for the items again,” explains Søren Hvorslev from Geemit in Esbjerg.

And with expert knowledge within both well-service, drilling and production, the team behind Geemit has a solid knowledge in the offshore industry.

“However, by joining the Next Step Challenge program we now get valuable advices from senior business partners in very different industries and not just within offshore. Other perspectives are very healthy for our business,” says Søren Hvorslev.

Geemit is more than just an ordinary trading portal as adding expert knowledge makes the business case unique and is closing a huge gap in the industry. So, by joining this business development program, Geemit aims to exploiting the full potential in the market.

In Europe we assume that existing oil & gas spare parts has a value of more than 30 billion DKK – and they are just collecting dust in the warehouses.
With the sales platform the sharing economy can clean out the overconsumption of certificated components – either in closed groups between specific companies or in a public forum.

“We just need to make everyone in the business aware of the possibilities and making them see the advantages of not just handing over the parts to a scrap dealer but instead renewing the certificates and exporting the components from the North Sea area to offshore industries in Australia, Iran and Nigeria.

I will enhance other companies to join the Next Step Challenge program, as getting out there and getting advice is the most valuable way to develop your business. It is like getting a lot of small boxes with advice and then you can open them one by one when you are ready,” ends Søren Hvorslev.

 

The customized advisory board for Geemit consists of:

Jacob Kjærgaard – Head of Project Logistics – Blue Water Shipping

Lars Bo Jensen – Vice President, Corporate Strategy & Business Development – SE/Stofa

Dennis Lauridsen – Bestyrelsesformand, Executive Advisor & Investor – DVLinvest

See the program >>