There’s not a quick fix solution to the range of issues currently facing the subsea industry. Short–term measures and knee-jerk cost-cutting may have worked in previous downturns, but this time we must take a long-term approach and implement fundamental changes that will deliver lasting results.
The North Sea is fighting back to meet the challenges of maximising economic recovery from the UKCS, according to the industry regulator.
The entire oil and gas industry must transform the way it goes about its business if there is to be a viable future.
A matchmaking service that aims to reduce the cost of recruiting project engineers has been launched at Subsea Expo in Aberdeen.
Ashtead Technology has today launched a white paper showing how approaches to the installation and integrity management of subsea systems can reduce cost.
Subsea 7 today confirmed it has landed a three-year framework agreement with Chevron North Sea, Dana Petroleum, Hess Denmark, Nexen Petroleum, Taqa Bratani and Talisman Sinopec Energy UK.
Aberdeen engineering specialist Xodus Group has launched a new asset lifecycle tool at Subsea Expro aims to help oil companies asset integrity issues.
Subsea Expo 2016 will launch tomorrow in Aberdeen with 5,000 people signed-up for the three day event.
The role that innovation will play in the future of the subsea sector will be highlighted at Subsea Expo this week.
In times of duress, it’s easy to put research and innovation on the backburner. But there are plenty of reasons to make sure it remains a core part of your business., says .
There’s not a quick fix solution to the range of issues currently facing the subsea industry.
“The problem that the UK had was realised before we had this oil price crash,” Gordon said. “Our costs were spiralling out of control; the writing was on the wall, but we didn’t do much about it as an industry. The drop amplified and compounded those problems.”
Firms are being encouraged to set their sights on increasing business exports in a bid to sustain long-term growth. Industry body Subsea UK has widened its Global Opportunities programme during Subsea Expo next month.
Energy travel specialist Munro’s has reported positive interest from UK companies keen to attend the world’s top oil show this year in Texas.
The UK’s £9billion subsea oil and gas industry has been urged to celebrate success despite the downturn, as the shortlist for an award ceremony was unveiled.
2016 may prove a year in which the theoretical underpinnings of the old adage that "the best cure for low prices is low prices" is challenged, according to Morgan Stanley.
Oil and Gas UK will run a free event in Aberdeen later this month to help graduates with energy-industry-related degrees find jobs. Graduates who have recently been fired or have been unable to get a job in the first place will have a chance to explore their options at the workshop. Representatives from several organisations, including Skills Development Scotland, OPITO, the Society of Petroleum Engineers (SPE), the Oil and Gas Innovation Centre, will be on hand to offer advice and support.
Oil industry experts will chew over the causes of the 2010 Gulf of Mexico disaster at an event in Aberdeen next week. The blowout of BP’s Macondo well killed 11 men, caused serious ecological damage and cost the company billions. John Turley, whose career included a stint as Gulf Coast drilling manager for Marathon Oil, has poured over petroleum engineering data during the well’s final hours to come up with an explanation for the explosion.
Robert Gordon University students yesterday unveiled plans for trophy design competition entries they have been concocting for an awards ceremony. The prizes handed out to winners at next year’s Offshore Achievement Awards (OAAs) will be based on the winning design. The competition’s organisers said the trophy should reflect the themes of the OAAs – innovation, collaboration and creativity.
More than 600 people working in North Sea oil and gas came together last night to celebrate achievement in the face of adversity and the best examples of how the industry is collaborating to ensure the future of the region. The 2015 Oil & Gas UK awards took place at Aberdeen Exhibition and Conference Centre attended by indsutry veterans including Sir Ian Wood and Total's Philippe Guys. The industry body's chief executive Deirdre Michie said this year's event was "notable" marking both "50 years of progress in exploration and production in the UK" but was also an important "tuning point" for how the sector does business.
The head of Oil and Gas UK (OGUK) yesterday urged companies to drop “cynicism” and embrace the new way of working after the trade body unveiled a number of new initiatives at an annual business event. OGUK’s Share Fair aims to stoke collaboration and drum up business by giving supply chain companies a rare chance to have one-to-one interviews with operators’ decision makers throughout the day, in a format not dissimilar to speed-dating. OGUK chief executive Deirdre Michie said that while the attendance was down slightly on previous years, a turnout of 900 plus was still very good and showed the industry is trying to improve the difficult situation it finds itself in.
Visitors to Oil and Gas UK’s annual Share Fair said the event indicated that operators’ attitudes towards the supply chain are thawing amid the oil price downturn. Delegates who participated in one-to-one interviews, more than 1,000 of which were held throughout the day, said buyers were more receptive to new ideas than had previously been the case. Jan Stander, business development manager at Trac Oil and Gas, an Aberdeen-based energy service firm, said a slight dip in attendance had helped improve opportunities to break the ice with potential clients.
The boss of ConocoPhillips, Ryan Lance, has been confirmed as a speaker at ONS 2016, which takes place in Stavanger between August 29-September 1.
They dined, they wined and then danced the evening away as the Press and Journal Energy Ball showed once again why it is the top night on the north-east’s social calendar.
The hunt is on for potential winners of the 2016 Offshore Achievement Awards (OAAs) in a timely reminder of “great success stories” still happening in the energy industry despite its woes.