Subsea expo shows N. Sea industry appetite for MER ‘collaboration’ in $30-barrel oil world

subsea 2016The 2016 UK Subsea exhibition and conference attracted just under 5,000 individual delegates, many of whom visited more than once over the three days, including international delegates who flew into Europe’s oil capital from all corners of the world, including Africa, Brazil, Japan, Mexico, Nigeria and the US.

Neil Gordon, Chief Executive, Subsea UK, said: “A clear message from the show was that we have to get fit for $30 oil. 

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“We cannot keep hoping that the price, and therefore investment and activity, will pick up in a year or so. Transforming the way we work is crucial.

“A large dose of vision and courage from the leaders in our industry is needed to achieve the behavioural changes that will ensure we are profitable and sustainable at $30.

“The good news is that we can do this but it’s not going to be easy. Much greater collaboration will drive standardisation and simplification which are key to getting the cost base down. The subsea sector is up for the challenge and there was real evidence of this type of collaboration in action during Subsea Expo.”

Graham Bennett, DNV GL – Oil & Gas, Vice President, Region UK & West Africa, added: “Despite the tough times ahead, delegates showed a real determination and drive to find new and improved ways of working.

“To ride out the crisis, collaboration should be seen as more than just the latest buzzword, it really is the call to action to bring down costs and ultimately improve quality and safety for the future survival of the sector.”

Ernie Lamza, Oil & Gas Innovation Centre chief operating officer, said: “The quality of technical discussion at Subsea has been exceptionally high this year.

“The subsea sector is clearly focussed on the strategic challenges facing exploration and production in the North Sea and internationally. Key themes have included cost reduction through technology and process enhancements, opportunities for standardisation and small pool development.   

“Everyone we have spoken to has been interested in taking research and development projects forward within the subsea industry and there is clearly an appetite for innovation from businesses and operating companies.”

Meanwhile, Subsea UK award winners at this year’s event were:

COMPANY OF THE YEAR and INNOVATION & TECHNOLOGY: Aker Solutions

BEST SMALL COMPANY OF THE YEAR and INNOVATION FOR SAFETY:  Fathom Systems

GLOBAL EXPORTS: JDR Cables

YOUNG EMERGING TALENT: Robert Weeks (JDR Cables)

OUTSTANDING CONTRIBUTION: David Bloom (Subsea 7)

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