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The mutual benefit of local partnerships

In modern day businesses, we know that vendor-customer relationships are not always face to face. Particularly in banking and insurance it is common that the two parties will never meet. However, in certain regions if you have not met, direct business is unlikely. This is often the case in the Middle East and South America.

Research undertaken by global business media outlet Forbes has found that 84% of business executives prefer face to face communication when compared with technology enabled forms. Of those, 85% said that it builds stronger, more meaningful business relationships. They also believed that bonds are built quicker through better engagement (85%) and the power to persuade is higher (91%).

It may seem old-fashioned to some, but at Hydratight we are a big believer in meeting our customers and our supply chain partners regularly in person. We do this to best understand requirements, physically map out solutions to engineering challenges together and learn from one another’s expertise.

We have formed a collaboration agreement to support new oil and gas projects in Trinidad and Tobago. The relationship with our partner Dumore Enterprises has been strengthened during numerous oil and gas industry trade shows and by holding employee training workshops.

Dumore has introduced us to influential industry representatives in the Caribbean nation and it has become clear that our external perspective is appreciated. The islands are enjoying a resurgence of oil and gas activity, with increased drilling programmes sanctioned throughout 2018 as well as the ongoing construction of offshore infrastructure.

The oil industry has been in existence for over 100 years in Trinidad. External E&P companies such as BHP, Chevron and Shell can be found operating there and are undertaking major campaigns. With older pipe networks connecting to newer assets, Hydratight is well placed to support the local market.

Dumore has been involved in transportation and logistics, oilfield and industrial supplies and services since the early 1980s. It is now the nation’s leading gasket and bolt supplier with in-house manufacturing capabilities. The relationship with Hydratight has allowed the team to expand its offering to include bolt torqueing, tensioning, pipe-cutting and machining equipment for sales and rental.

Our collaboration has also enabled us to implement focused training programmes with the firm’s personnel to help with the transfer of product knowledge and expertise.

As part of a wider growth strategy in the region, both businesses are realising the invaluable benefits of working together and learning from each other. The combination of globally recognised equipment and tooling techniques with the years of regional knowledge and home from home manufacturing facilities, is strong. We aim to continue to support the industry and wider economy in Trinidad and Tobago and grow our Caribbean footprint. Hydratight and Dumore will have a joint display at the upcoming Energy Conference in Port of Spain, Trinidad and Tobago February 4th-6th, 2019.