With a growing realization that lower oil and gas prices are here to stay, Subsea UK has urged the industry to embrace the ‘new norm’ to safeguard the future of the UK’s £9billion (US$11 billion) subsea sector.
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Image of Gordon, from Subsea UK Twitter. |
The call was issued as Subsea UK announced the final speaker line-up and program for its 12th annual conference and exhibition, Subsea Expo. Europe’s largest annual subsea event takes place at the Aberdeen Exhibition and Conference Centre from 1-3 February 2017.
This year’s theme ‘Adapting to The New Norm’ will look at the behavioral changes the industry must make to deliver the cost savings and efficiencies needed to sustain the sector for decades to come.
More than 5000 people from the subsea supply chain are expected to attend the event, including dignitaries and senior industry figures from Africa, Brazil, Japan, Mexico, Nigeria and the US.
With around 150 exhibitors expected, Subsea Expo is an opportunity for those in the industry to showcase new technology and services. The 2017 program is packed with high profile industry speakers from a number of companies including Aker Solutions, Xodus, Wood Group and Shell UK. Their presentations will cover global opportunities, fields of the future, diversification, integrity management, life extension and unlocking marginal fields.
The event’s plenary session, chaired by Neil Gordon, chief executive of Subsea UK, will set the scene for the week and stimulate debate with presentations from a number of high profile industry figures.
David Lamont of Proserv will discuss adapting to the current market and make a case for using innovative approaches, technologies and methodologies to help drive efficiency and productivity in the offshore sector.
Mark Richardson of Apache will also give an operator’s perspective on the current industry situation and Andrew Reid from Douglas Westwood will be looking the market outlook for the subsea industry. The session will also welcome Phil Simons from Subsea 7 who will shine a light on the current market from a SURF contractor’s view point.
“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,” Gordon said.
“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. It’s vital that the industry takes a long-term approach - it’s about making things simpler, safer, and more efficient today to deliver lasting results for decades to come.
“Innovation and continuous improvement will be the driving force of our future – it’s how we will increase the productivity of our sector by improving efficiency and adding real value to operations. However, no matter what the future holds, we can’t afford to be complacent and slip back into old habits. The changes we make today are for good and must be embedded into everything we do from here on out.
“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.”
Subsea Expo’s gala dinner and awards ceremony, on Thursday 2 February, will see a selection of the country’s most innovative, dynamic and successful subsea businesses recognized for their success over the past 12 months.
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