Industry body Subsea UK is urging firms to embrace the “new norm” in order to safeguard their future.
Today’s call comes amid a growing realisation that lower oil and gas prices are here to stay and as Subsea UK announces the speaker line-up and programme for its 12th annual conference and exhibition in Aberdeen.
The theme for the event, being held at Aberdeen Exhibition and Conference Centre from February 1-3, is “Adapting to the New Norm”.
It will look at the behavioural changes that are required in the UK’s £9billion-a-year subsea industry as it targets cost savings and efficiencies vital for sustaining itself in the decades to come.
More than 5,000 people, including dignitaries and senior industry representatives from Africa, Brazil, Japan, Mexico, Nigeria and the US, are forecast to attend.
With around 150 exhibitors also expected, Subsea Expo is also an opportunity for firms to showcase new technology and services.
Conference presentations will cover topics including global opportunities, diversification, integrity management, life extension and unlocking marginal fields.
Proserv chief executive David Lamont of Proserv will share his thoughts on how firms can adapt to the current market and find new and innovative ways of boosting efficiency and productivity.
Andrew Reid, Aberdeen-based managing director of energy consultancy Douglas-Westwood, will focus on the prospects for subsea firms and Phil Simons, vice-president North Sea and Canada at Subsea 7, will shine a light on the current market from a contractor’s viewpoint.
Apache North Sea projects group manager Mark Richardson will give an operator’s perspective.
The opening plenary session will be chaired by Subsea UK chief executive Neil Gordon, who said: “Over the past two years we have been hit by the worst global downturn in our history.
“The environment in which we operate has changed and it’s changed quite dramatically for us all.
“In the past, we’ve adjusted, reduced our costs, tightened our belts and made some tough decisions, however, this time it’s different.
“We need to do more as sitting back and waiting for the oil price to rise again is not sufficient and nor is short-term cost cutting.”
He added: “We can’t ignore the real changes that are happening in the world. It’s time to step up to the plate, adapt to the new environment and adopt a fundamentally different mind-set.
“Subsea Expo represents the ideal platform to bring together leading industry figures to discuss how we can transform and lay solid foundations for a brighter future.”
A gala dinner and awards ceremony on Thursday February 2, starring former England rugby international Matt Dawson as guest speaker, will see some of the UK’s most innovative, dynamic and successful subsea businesses recognised for their success over the past year.