The sector’s most enduring theme is its ability to “make the most” of a crisis, according to a leading law firm.
Burness and Paull partner Jamie Stark sat down with Energy Voice as part of its Sub $50 campaign: New Perspectives and Hidden Opportunities.
“For a sector whose history is one of cycles and volatility, a consistent theme is to make the most of this crisis. That is, to learn from past and to recognise the need to improve efficiencies and better collaboration and to help create a sustainable industry at lower oil prices. And that is the challenge the industry has been facing up to,” he said.
“The industry has the opportunity to find new solutions to bring swifter and more sustainable recovery in the North Sea, particularly for less economically viable fields. Impetus can be injected by the emergence of new “think tanks” and driving innovation like the Oil & Gas Authority and the Oil and Gas Technology Centre.”
Stark will join Energy Voice’s panel at this year’s Offshore Technology Conference debate on Tuesday, May 3, at the Hilton Houston Post Oak.
The latest research survey delves into the sector’s current down-cycle, examines its knock-on effects and identifies the critical gains still available regardless of Brent benchmarks.
The survey results will be revealed at a panel event at this year’s Offshore Technology Conference (OTC).
To register for the free event click here. To take the survey click here.
Panellists include Paul de Leeuw, director of the Oil & Gas Institute at Robert Gordon University (RGU); Paul Latiolais, director of the Innovation and Commercialisation Centre at Lamar University; Jamie Stark, oil & gas partner at Burness Paull and Jeremy Cresswell, the Press and Journal’s energy editor.
The panel will tackle a range of topics, including the roles diversification and technology will play in a sub-$50 oil price environment.
Stark added: “We are a global business affected by global dynamics. To thrive, businesses must look to best deploy their resources, be it technology, equipment or personnel, in international markets, both established and frontier territories. As markets open up, for example Iran, opportunities will be there for businesses.”
Energy Voice editor Rita Brown will moderate the free event, which will run from 7am to 8.15am in the events suite on the ground floor of the Post Oak.
The research and breakfast are sponsored by the Regional Economic Development Initiative (REDI) in Texas and Burness Paull, a leading Scottish law firm.
To register for the free event here .