Free the Porcupine

Sarah Gillet, the British Ambassador to Norway, recently spoke at an event in Aberdeen about opportunities in the Norwegian Sea. She gave an insight into the current environment, noting:

 

  • Production costs are down,
  • Oil price is more stable,
  • Global energy demand is increasing,
  • Plentiful reserves left on the Norwegian shelf,
  • 80 fields are currently producing – (most in North Sea, 16 in Norwegian Sea, and 2 in Barents Sea),
  • 7 new field developments are underway (worth approximately 23 billion pounds),
  • There are 5 new plans for Operation and Development.

 

While the above is always good to hear, what I found most interesting about Sarah’s talk, was her reference to the Darwinian Theory; stating “it’s not the strongest that survive, but those most susceptible to change”.

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Incremental Improvement

I recently attended an Oil & Gas UK Business Outlook Breakfast Briefing, where the phrase of the day was ‘cautiously optimistic’.

We’ve seen in the news that North Sea operators are reviving, the biggest story being the recent Hurricane Energy discovery near Shetland. The briefing figures showed that unit costs are down and profits/projects are on the rise. People seem to be getting better at doing more with less.

Indeed, the atmosphere at the breakfast was far more convivial than the last I attended back in December 2015.

All very positive, however, we still have a long way to go. So, how do we go forward from here?

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Can Saving Costs Cost You?

In my last blog post I mentioned performance improvement. It’s a buzzword that frequently appears when researching software systems for the oil and gas industry, but what exactly does it mean? To me, Performance Improvement is a blanket term for a range of important issues, ranging from operational efficiency, to automation, and data integration. However, the…

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Oil and Gas Price Factors

I recently attended a conference, hosted by KPMG in London, concerning the current state of play with low oil price and its effects on the world’s oil and gas investment markets. It was an interesting meeting with about 150 people in the audience, and a panel of four speakers. In the following post I summarise the presentations, how its not all doom and gloom and some tips for surviving the current situation. 

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