Collaboration is vital to getting MER from the North Sea
The oil and gas industry is currently in crisis — supply exceeds demand and has resulted in oil prices falling to less than half their value of 12 months ago, leading to postponement or cancellation of projects worldwide, and restructuring as many staff are laid off.
Which is why – folllowing the success of the UK Shale Energy Conference 2015 which we held in partnership with the Scottish Energy Association – Scottish Energy News is now organising another keynote energy industry conference.
To be held in Aberdeen in 1Q2016, the Oil and Gas Collaboration Conference will focus on how to get MER from the UK North Sea reserves. Key conference themes are: –
- Company ‘culture’ and ethos
- Inter-company collaboration
- Collaboration with peers and regulators
- Cross-industry bench-marking
- Innovation and Cost-Efficiencies
- Sharing Best Practice
To meet higher regulatory costs – while adapting to what increasingly looks like a new oil world at with crude prices stagnating at around $50-barrel, every player in the North Sea needs to work smarter, become most cost-efficient, and to work in collaboration to get MER out of the ageing basin.
A recent report from Deloittes – based on in-depth interviews with 23 senior oil and gas executives and investors from 18 organisations – identified the next steps needed to support the Wood Review’s recommendations and the cultural shift required to achieve these, including: –
Closer collaboration between companies, the Oil and Gas Authority and HM Treasury to control costs, manage risks and increase operational effectiveness.
Meanwhile, Ian Taylor, the expat-Scot who is chief executive of Vitol – the largest independent oil trader in the world – is forecasting that that slowing oil demand growth and an increase in the volume of Iranian crude supply will help keep a lid on crude oil prices.
“If we are above $60-barrel by the end of 2016, I will be a little bit surprised,” said Taylor, whose company handled more than 2 billion barrels of oil last year.
For exhibition / display stand information, contact: http://Sales@ScottishEnergyNews.com
For speaker – presenter opportunities, contact – in confidence: http://EDITOR@ScottishEnergyNews.com