‘Lower-for-longer’ forces SPE and OGUK to merge Scots oil and gas innovation programmes

An Aberdeen-based trade body and a professional institute for oil and gas engineers are to merge their innovation and business-incubation programmes.

The local branch of the Society for Petroleum Engineers has signed a memorandum of understanding with Oil and Gas UK.

Signatories Deirdre Michie and Ian Phillips vowed to work together on ‘selected’ new technology-based events.

They said this will provide an ‘important platform for industry to share case studies’, highlighting the value that innovative technology is bringing to the exploration and production lifecycle.  

Industry observers have suggested two reasons behind this collaboration. A retired oil and gas veteran explained:

“First, budgets for research and development in the private sector are still under pressure in the ‘lower for longer’ crude oil price environment, and;

“Second, the market for business support and development conferences is crowded and overlaps with many both similar and simultaneously-rival organisations in both the private and public sector, such as OGTC, EIC. ONE, ITF and OGIC – where Phillips himself also has another, overlapping role as chief executive.

“Either way, the market is over-supplied and as the public sector (including OGIC and an entire other roster of business development agencies) can never go bust, the private-sector has to retreat.”

16 Nov 2017

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