Data science is about recording, storing and analysing massive amounts of data in order to extract useful information and uncover intelligent information for organisations. In recent years, companies across all sectors have been implementing data science in order to become more efficient and the oil industry has not been an exemption.
A few months ago I approached Sainsbury's with the following suggestion:
How reverse mentoring is helping build the workforce of the future and advance the energy transition
I shouldn’t have been surprised but I read with utter dismay coverage of President Trump’s speech at the World Economic Forum in Davos. This statement horrified me –
For the Permian Basin, the future is bright – and getting brighter all the time. In fact, the McDonald Observatory in Texas has noted an increase in average sky brightness due to artificial light from 14% in 2015, up to 43% in 2019. The reason is flaring.
The procedures surrounding offshore assurance and verification have altered little since they were established following the Piper Alpha disaster in 1988. However, the characteristics of the modern oil and gas industry mean there is now a critical need for a change in approach.
Big Oil doesn’t have a choice; either it gets serious about the necessary transition to low carbon energy or mounting public fear fuelled by the impacts of the deepening climate crisis will eventually force drastic change.
I was recently reminded of a new year’s resolution that I made some years ago - one which I’m successfully keeping to this day. Back then, I committed to making the transition towards a greener, more sustainable personal lifestyle. But here’s the clever bit: I figured it would also be OK to carry on pretty much as before with all my current behaviours. So, no really big changes required and certainly no tough decisions to make. Now, maybe it’s just me, but expecting the oil industry to get right behind the energy transition whilst sticking with MER does feel kind of similar.
I recently addressed a room of industry leaders and when deciding what to say, I thought I'd begin by discussing one of the defining issues of our time: the dual challenge of providing more energy with fewer emissions.
Media reports of organisations announcing divestment and a distancing from oil and gas are increasing.
Regarding Greenpeace's call for drastic change, at least there are signs that the North Sea oil & gas industry – UK, Norway, Denmark and The Netherlands - recognises the challenges and is prepared to curb its emissions.
It’s fair to say that 2019 ended on a note of political and economic turmoil. But while the global oil and gas industry will face a number of uncertainties over the coming months, there is one trend I can predict with total confidence - the momentum-gaining groundswell in the adoption of data science and predictive technologies.
2019 – the year that was dominated by the ‘B’ word. But for one Aberdeenshire firm sharing the same initial letter, 2019 was less dogged by controversy, and more gilded by success. Oldmeldrum based Bethan Customs Consultancy celebrated its 4th birthday with an expanding client base, boosted turnover, and an-ever growing team.
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
It is estimated that during 2019 over 20 million people in the UK contacted the 999 emergency services to request immediate police, ambulance, fire or coastguard support or to report an emergency.
This is set to be a pivotal year for the oil and gas industry.
On the Friday before Christmas, the last of 140 workers at the Arnish fabriction yard on Lewis were paid off.
The year 2019 once again proved that oil and gas remain indispensable resources to make the world a better place. They help to improve the lives of billions of people, many of whom would otherwise lack any access to reliable energy.
News that the COP 25 meeting in Madrid ended in a not very satisfactory compromise doesn’t exactly fill me with hope that the world’s leaders have really got a grip of how serious the “climate emergency” really is.
Following the result of the general election, we can now expect to leave the EU at the end of January, although very little will change on that date as we will move into a transitional period when existing EU rules and trade terms continue to apply in the UK.
2019 was an incredible year for diversity and inclusion across Aberdeen and the wider energy sector, and we are excited to see that continue into 2020.
The turn of the year means boardroom leaders are planning – as well as playing soothsayer – for what’s next in 2020 and beyond.
With the festive season over, the start of a new year gives employers an ideal opportunity for a spring clean of their compliance processes and to identify any tax planning opportunities.
While the UKCS may be regarded as a more mature basin than those in other parts of the world, that doesn’t mean that it is standing still or slowing down.
Current market conditions are making oil and gas operators understandably cautious about embarking on mega projects. When they do invest, shorter term payback options such as brownfield developments are generally favoured over longer-term, large-budget greenfield projects.