The oil industry must acknowledge the potential of smaller independent companies and their role in the development of the sector, believes one of this year’s Offshore Europe conference chairs.
The Mighty Oaks from Little Acorns Grow debate, headed by Aberdeen-based consultancy ADIL, will highlight the importance of the entrepreneurial spirit independent companies bring into the market.
“I believe the smaller independent companies are the lifeblood of the industry,” James Paton, managing director at ADIL, told Energy Voice.
“They are extremely important at challenging boundaries, looking at different parts of the world, which have maybe been overlooked by bigger national oil companies and being able to find new oil and gas reserves in those regions.”
Despite their potential, the independent companies face huge funding challenges, which should be addressed by the bigger industry players, Paton added.
Watch the full interview with James Paton below.