As the end of the year approaches, we find ourselves evaluating how the past year has gone – what went well? How have we helped the oil and gas industry? What can we do better? At EnergySys, we believe in continual improvement, that there is always a ‘better way’. We’re pleased to have some recognition…Details
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”.Details
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?Details