The next generation of oil and gas industry leaders were advised last night that an international outlook was essential if the north-east were to capitalise on an ever-changing worldwide trading climate.
Multimillionaire philanthropist Sir Ian Wood, the chairman of Aberdeen-based oil service giant Wood Group, added that despite huge challenges facing energy resources the area could maintain its position as a key hub for the sector.
The comments came as Sir Ian delivered the keynote address at the 2009 Young Professionals in Oil and Gas Dinner, in the Marcliffe Hotel and Spa, Aberdeen.
He was following in the footsteps of political and business leaders including First Minister Alex Salmond, former energy minister Brian Wilson and Nessco chief executive Tom Smith, who have all addressed guests at previous years’ gatherings.
Sir Ian shared his thoughts on a range of topics, drawing from experiences in an energy-industry career spanning more than 40 years.
He said: “Our responsibility as business leaders is threefold.
“First, we need to develop a greater global mind-set in order to take advantage of the wonderful opportunities that are available if we tap into a worldwide marketplace.
“We have to start planning and developing our businesses on a canvas which comprises global resources, skills, markets and manufacturing expertise.
“Second, we need to adapt to the world’s increasing energy needs.
“Our planet’s population is growing by 250,000 people a day and it is obvious that emerging countries will vastly increase their per-capita energy consumption.
“For oil and gas to play its role, production will need to increase from 90million boepd (barrels of oil equivalent per day) to 120million boepd by 2050.
“This would require five new Saudi Arabias.
Sir Ian said that meeting the world’s future energy needs would require investment in the research and development of renewable-energy technologies, greater use of nuclear power and maximum exploitation of hydrocarbons. The third and final challenge in the future, he said, was tackling the “huge inequity in wealth, health and opportunity, as well as the increasing racial, ethnic and religious intolerance, across our planet”.
More than 300 people attended the black-tie gathering, which was organised by professional service firms Deloitte and McGrigors.
It was sponsored by Aberdeen City and Shire Economic Future and marked the last in a series of networking events this year for young people working in the energy sector. Guests also heard from comedian Lee Hurst, best known for his appearances on BBC quiz show They Think It’s All Over plus guest appearances on Have I Got News for You and The Stand-up Show.
Wood Group GTS, part of the Aberdeen-based international energy service company, said yesterday it had been awarded a £3.75million operation and maintenance contract by Energy Investors Funds for the gas-fired Panoche electricity generating station in California.
The contract includes the care, custody, control and maintenance of the station.
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