As the latest survey goes live on Energy Voice, we’ve collected the first findings from the project, which were revealed at OTC 2015.
Energy Voice has called on the global energy sector to participate in the second part of its landmark research launched to mark 50 years of oil and gas exploration in the North Sea.
The project is a response to falling oil prices, which placed the UK and wider global energy market under pressure.
Almost 900 respondents took part in the first survey, which found the need to slash costs as the number one challenge currently facing the oil industry.
Leaders also said they believed crude prices will bounce back above $100 by 2020.
In partnership with RGU, Burness Paull, EY, Douglas Westwood, Fifth Ring and the University of Oklahoma, this latest instalment will look at the sector’s perceptions of technology and cost efficiencies.
Reduced commodity values alongside accelerated austerity measures have forced the UK offshore oil and gas industry to make difficult decisions in recent weeks.
The research aims to provide insight into how firms are navigating this new frontier – and how it will adapt to meet world energy demand over the next 50 years.
To take part in the latest research click here.
Mobile users can view a version of this infographic here.
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