DNV GL

DNV GL Overview

DNV GL is an international company with headquarters at Oslo, Norway and was established in the year 2013. DNV GL provides classification, technical assurance, software, and independent expert advisory services for operators in oil and gas industries. The company has about 13,550 employees in 350 offices operating in more than 100 countries such as U.S., India, U.K., Australia and Spain.

The company operates in five main sectors: Maritime, Oil & Gas, Energy, Business Assurance and Software. They also provide services for several other industries such as renewable, energy, food and beverage and healthcare. DNV GL’s oil and gas services is an industry leading technical advisory services for offshore decommissioning industry in pipeline evaluation, digitisation and subsea structure removal.

With their leading technical and operational expertise, DNV GL also provides certification services across wide range of industries. The subsidiaries of the company includes companies such as KEMA, GL Noble Denton, Petro Services A/S, and GL Garrad Hassan Ltd. DNV GL competes with companies such as TechnipFMC PLC, AF Gruppen ASA., Aker Solutions ASA, Allseas Group S.A and Ramboll Group A/S.

Strategy

DNV-GL sees it key strategy as capitalizing on the growing demand for greener, safer and more transparent business solutions. The company is focussing on establishing itself as a global leader in being more agile, responsive and a data smart company that can cater better business solutions. To be more competitive in the global oil and gas industry, DNV GL has re-sized and restructured its oil and gas business area to increase efficiency while retaining core competencies. Their offshore decommissioning services has seen an increased demand due to decreased oil prices. DNV GL planning for the decommissioning of old oil and gas infrastructures has increased, and it is playing an important role in ensuring this can be done in a safe and environmentally sound manner. For offshore decommissioning services, DNV GL signed a memorandum of understanding with the Japan-based international non-profit NGO Peace Boat, forming a partnership to develop the Ecoship cruise ship. It incorporates cutting edge technology to improve efficiency, reduce waste and minimize environmental impacts.

Company Snapshot

$2.2M

Revenue

12,000

Employees

1864

Founded

SWOT Analysis

Strengths

Strong R&D division
Diverse operating portfolio
Operations in more than 100 countries
Strong brand name
Diversified services portfolio

Weaknesses

Fluctuation in currency values
Oil policy uncertainty
Unable to emphasize importance of workers at global level

Opportunities

Expansion into new industry services
Becoming a true global player
Growing renewable data and energy services industry

Threats

Fluctuations in oil prices
Increased environmental regulations and license agreements for operations
Intense Competition

Key Developments

Date	Approach	Development
December 2019	Joint Venture	DNV GL collaborated with 16 wind industry stakeholders including CDEE, COWI, and Ørsted, among others for minimizing the cost, warranty, and liability risks and for optimizing the wind turbine design for seismic and typhoon conditions in Asia-Pacific and North America.
July 2019	Product Launch	DNV GL launched a new service based on Operational Modal Analysis (OMA) for wind turbines for handling the structural problems on wind turbines.
April 2023	Expansion	DNV has expanded its research laboratory in Singapore with new testing equipment for the safety assessments of hydrogen transport and storage facilities. New testing equipment expands services to APAC customers looking to transport or store hydrogen.
April 2023	Partnership	SEI and DNV announced that they have started a strategic partnership to drive innovation in the clean energy sector.
April 2023	Expansion	DNV announced that they have grown energy testing capability in Groningen with a new Technology Centre to accelerate the energy transition.
April 2023	Expansion	DNV published the world's first certification guidance for energy islands and offshore wind farms in Poland.

Product Offering

DNV GL
- Oil and Gas
Control solutions for wind farms and wind turbines

Financial Performance

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