Amid a growing industry realisation that lower oil and gas prices are here to stay, the annual Subsea UK exhibition – which opens tomorrow ( 1 Feb 2017) in Aberdeen – will examine what the UK industry must do to survive and remain globally competitive in the current environment.
This year’s theme – ‘Adapting to the New Norm’ – will look at the fundamental changes the industry must make to ensure it is well positioned to maintain its world-leading position.
Neil Gordon, chief executive, said: “Adapting to the prolonged period of lower oil and gas prices is a challenge that many companies throughout the UK, and further afield are currently facing up to. This year’s conference will look at the hurdles we still face and how we can overcome them through cost-efficiencies, new technology, diversification and internationalisation.
“A huge part of this is how we work together with customers and suppliers. Robust relationships built on trust, respect and value are crucial to speeding up what is going to be a slow recovery.”
The 2017 programme is packed with speakers from a number of companies including Aker Solutions, Xodus, Wood Group and Shell UK. Their presentations will cover global opportunities, fields of the future, diversification, integrity management, life extension and unlocking marginal fields.
The plenary session will set the scene for the week and stimulate debate with presentations from Mark Richardson (Apache), Phil Simons (Subsea 7) and Andrew Reid from Douglas Westwood.
“With fewer deepwater projects being sanctioned, there is a trend to replace high cost topside developments with more cost-effective subsea tie-backs, squeezing more out of existing assets and making much better decisions on projects to maximise financial return over the operational life of assets,” said Gordon.
“This appears to be the way our industry is moving and we must adapt to ensure we are in a strong position to embrace and capitalise upon the opportunities that this new norm presents. Those who transform, innovate and forge new alliances will not only survive, but they will open doors to real prospects in the future.”