Energy Industries Council to publish Aberdeen report on how its UK oil and gas members achieved £500m in N. Sea savings

Stuart Broadley
Stuart Broadley

Britain’s biggest industry association for the oil and gas sector is to publish its new report in the N. Sea oil and gas supply chain market which details cost-savings of £550 million and more than two dozen new-business orders.

Companies that contributed to the ‘Survive and Thrive Report’ compiled by the Energy Industries Council (EIC) include companies either based and/or operating in the Scottish North Sea, as well as Aiken, Amec Foster Wheeler, Booth Welsh, ENGIE Fabricom, Petrofac and Weir Engineering Services.

The new report and case-studies is based on fact-finding visits by Stuart Broadley, Chief Executive of the EIC, who will present his findings at a seminar being held at its Aberdeen office later this month.

Established in 1943, the EIC is the leading trade association for UK-registered companies working in the global energy industries. Its members supply goods and services across the oil and gas, power, nuclear and renewable energy sectors.

As a not-for-profit organisation, the EIC’s role is to help its 650 members – which is considerably more than operator-led Oil and Gas UK – maximise commercial opportunities worldwide.

The EIC has identified six key areas as being vital to ensure growth during these tough times:

  • Optimisation of costs and processes
  • Innovation
  • Technology
  • Collaboration
  • Diversification, and
  • Exports

Stuart Broadley said, ‘The purpose of these briefings is to allow companies to find out about the best practices to ensure success during these tough times.

“The behaviours and strategies the EIC has identified come from real life examples, so are proven and can work for your company too. The sheer scale of savings and new orders won by these 26 companies through their survive and thrive strategies, normally from just one or two customers each, is staggering – totalling well over £550 million.’

The EIC Insight Report: How to Survive and Thrive is available free of charge to all EIC member companies, and for purchase by non-members.

The report will also be submitted to the Department for International Trade and the Department for Business, Energy & Industrial Strategy to feed into the government’s industrial energy strategy.

For more information

Meanwhile, the National Subsea Research Initiative (NSRI) has teamed up with Scottish innovation centres CENSIS and Data Lab in an effort to enhance inspection and condition monitoring methods for greater subsea integrity management.

Dr Gordon Drummond, Director of the Aberdeen-based NSRI, explained: “As offshore assets mature, operating them becomes increasingly more complex and monitoring their condition is essential to ensure integrity.

“To achieve this, we must have the right systems and procedures in place so we can monitor deterioration, identify failure mechanisms, understand the root causes, and implement the right maintenance programme, if necessary.

 “Although subsea equipment failures are relatively uncommon, greater adoption of monitoring and measuring enables operators to effectively plan and carry out bespoke maintenance campaigns, minimising operational risk and costs.”

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