Take a look back at some of Energy Voice’s most watched videos from the past year.
Energy Voice launched Energy 2050 – Securing our Future - at the Offshore Technology Conference in Houston in May.
Delighted watch collector Jamie Gray was right on time yesterday when he visited leading Aberdeen jeweller Finnies the Jewellers to collect his fabulous prize in our competition to win a Breitling Superocean 42.
These are the findings from Energy 2050 - Securing Our Future research unveiled ahead of Offshore Europe 2015. Panelists including Sir Ian Wood, EY managing partner Derek Leith, Andrew Reid, chief executive of Douglas-Westwood,Rebecca Wain, a 24-year-old graduate geologist and Michael Engell-Jensen, co-chairman of Offshore Europe joined Energy Voice's Rita Brown to discuss the results.
Rebecca Wain, a 24-year-old geologist with Statoil in Aberdeen joined the Energy Voice panel ahead of Offshore Europe next week. The rising star spoke eloquently about the challenges faced by her peers in finding employment during the downturn in the industry. Wain gave her thoughts on the panel discussion speaking to Energy Voice after the research from Energy 2050 - Securing Our Future was discussed to a sold-out crowd of more than 300 people.
A managing partner at EY in Aberdeen said in order to “radically" improve the cost base in the UKCS there would need to be a behaviour change within the oil and gas industry. Speaking after the event, Derek Leith said he had been surprised by findings from Energy Voice’s research which showed a ‘negative’ view of the industry. Leith was joined by a panel including Sir Ian Wood, Andrew Reid, chief executive of Douglas-Westwood, Rebecca Wain, a 24-year-old graduate geologist and Michael Engell-Jensen, co-chairman of Offshore Europe at the Energy Voice – Securing Our Future event at the Tivoli in Aberdeen.
Sir Ian Wood said there had been a step change in focus by the North Sea oil and gas industry in how to persevere through the current downturn. Speaking to Energy Voice following its Energy 2050 – Securing Our Future event at the Tivoli in Aberdeen he said it was clear the industry was “now prepared to give proper though about how it solves its problems”. He was one of a panel of experts who discussed the findings of a survey of 450 sector leaders, which was commissioned by Energy Voice.
Energy Voice is getting ready for its Energy 2050 – Securing our Future event taking place tonight ahead of Offshore Europe. Editor Rita Brown will be joined by a panel which includes industry leader Sir Ian Wood, Statoil graduate geologist Rebecca Wain, EY’s UK head of oil and gas taxation, Offshore Europe co-chairman Michael Engell-Jensen and Douglas Westwood’s Andrew Reid. The panel want to hear your views on the North Sea oil and gas industry and how to inspire the next generation of innovators.
Energy Voice sat down with three young SPE Aberdeen (Society of Petroleum Engineers) graduates and interns working within the oil and gas industry. The interviewees,Ross Taylor and Lalit Bhamare ,spoke ahead of Energy Voice's groundbreaking event on Wednesday, September 2 at the Tivoli in Aberdeen. They answered a range of questions about how to inspire the next generation of industry leaders.
Energy Voice sat down with three young SPE Aberdeen (Society of Petroleum Engineers) graduates and interns working within the oil and gas industry. The interviewees, Marie Backstrom, Gabriella Thomas and Adam Zalewski, spoke ahead of Energy Voice's groundbreaking event on Wednesday, September 2 at the Tivoli in Aberdeen. They answered a range of questions about how to inspire the next generation of industry leaders.
The chief executive of Aberdeen’s leading science centre said more young people need to be shown the opportunities they could have from working in the oil and gas industry. Liz Hodge, who runs Satrosphere, made the comments as she gave her backing to Energy Voice’s Offshore Europe event on September 2. The panel discussion at the Tivoli includes Sir Ian Wood, Derek Leith, office managing partner at EY Aberdeen and the firm’s UK head of oil and gas taxation and Offshore Europe co-chairman Michael Engell-Jensen.
With just weeks to go until Offshore Europe time is running out to have your say and take part in Energy Voice’s last leg of research. Participants will have the chance to win a Breitling Superocean 42 courtesy of Finnies the Jewellers by taking part. The latest survey has now gone live just weeks ahead of our own event ahead of Offshore Europe.
Industry leaders must ensure the next generation of talent know the door is still open into the sector, according to one young professional. Adam Zalewski, who is currently studying for a Master’s degree in Petroleum Engineering at the University of Aberdeen, said high volumes of young people had been attracted by the industry following the “good years”. However the 22-year-old – who is also president for the SPE student chapter at the University of Aberdeen – said it was now imperative companies took on the best talent.
Oil and gas companies will need to find a way to harness skills learnt in the last 50 years in order to benefit the future workforce, according to a leading HR expert. Kate Butterworth, global HR leader for multinational businesses Hydratight & Viking Sea Tech, said focus needs to be placed on mentoring those moving into the sector. The words of advice come after Energy Voice unveiled the final tranche of its research project which will focus on the next generation and the future of the North Sea.
Energy Voice wants you to take part in the last leg of our research aimed at building the industry’s next generation of innovators and have the chance to win a Breitling Superocean 42, courtesy of Finnies the Jewellers. The latest survey has now gone live, just weeks ahead of our Offshore Europe event where the findings will be revealed. To mark the final part of the research, we’ve teamed up with Finnies the Jewellers to offer this fantastic prize to one lucky participant.
Energy Voice has called on the global energy sector to participate in the final part of its landmark research launched to mark 50 years in oil and gas exploration in the North Sea. The latest survey has now gone live, just weeks ahead of its Offshore Europe event where the findings will be revealed. Take part here. The final tranche will look at how to fuel the conversation and encourage the next generation of industry leaders and look at the future of the North Sea. The project was launched in response to falling oil prices, which placed the UK and wider global energy marker under pressure.
More industry leaders have come forward in support of an event aimed at ensuring the next generation of industry innovators move into the oil and gas sector. Earlier this week it was revealed industry giant Sir Ian Wood would be joining an Energy Voice panel next month alongside Offshore Europe co-chairman Michael Engell-Jensen and Derek Leith, office managing partner at EY Aberdeen and the firm’s UK head of oil and gas taxation. The move has been backed by the likes of UK Energy Minister Andrea Leadsom and Deirdre Michie. The managing director at Craig Group, Douglas Craig, said it was imperative that more young people understood the significance of the energy industry.
Energy Voice has launched an event aimed at ensuring the next generation of industry innovators don’t get lost in translation amid a market downturn. Industry giant Sir Ian Wood, Offshore Europe co-chairman Michael Engell-Jensen and Derek Leith, office managing partner at EY Aberdeen and the firm’s UK head of oil and gas taxation, will all take part in the panel. The event, which will be held at the Tivoli on Wednesday September 2, will discuss the final wave of Energy Voice’s research: Energy 2050 – Securing our Future.
Energy Voice has launched the latest wave of its research aimed at gauging global sector perceptions. Take part here. The latest installment of ‘Energy 2050: Securing our future’ takes aim at the sector’s international ambitions . The groundbreaking research led by Energy Voice, and done in partnership with EY, Robert Gordon University, FifthRing, Burness Paull and Douglas Westwood, is part of a year-long global initiative. Energy Voice editor Rita Brown said: “This wave of the research will gauge the industry’s perception of what today’s new frontiers are – whether it’s the unknown of the Arctic, the emerging Asian production market, the African subcontinent or the UK’s own onshore potential. Energy 2050 will delve into the challenges, rewards and most importantly the tools needed to ensure the UK supply chain can export its abilities to the global market.”
The word which screams at me when reading the responses to the Energy 2050: Securing our future's research on technology is “opportunity”! The concept is one thing. Exploiting it is another. With most survey responders holding the view that the current supply / demand imbalance is set to continue in the medium term, and as a consequence the oil price will remain in the $60 - $100 per barrel range, reducing the costs of recovery, particularly in the North Sea basin, will remain the principal focus.
Everyone involved in the North Sea oil and gas sector will look back whimsically to a time when production was more than three times what it now is. Back then, untapped reserves considerably outweighed historic extraction and all involved in the industry could comfortably expect production to see out their careers. Notwithstanding price volatility, there was no pressing need to innovate and find new and clever ways to extract oil more cost effectively. Production could be extracted from more accessible fields with trusted technology.
The Energy 2050 survey finds a roughly even split between those who see oil back over $100 per barrel by 2020, and those who see it trading in the (albeit rather wide) range of $60-100 per barrel. Less than 10% of respondents expect prices to track under $60 per barrel. Not unsurprisingly in the current environment much of the focus is on managing through the next five years, rather than the long-term dynamics of the industry. A particular challenge remains for the higher-cost and mature areas like the North Sea where there is a clear need to address the cost, technology and ownership dynamics, but where confidence in the medium-term pricing environment is key to making the additional investments that are required to take advantage of the opportunities that still exist.
“Crude prices drop by 50% confronting the oil industry with major challenges”. Sound familiar? If you have been in this industry for more than ten years, you’ve seen at least one, maybe as many as five or six, major crude price down turns. Is this 1985? Or 1990? Or1998? Or 2008 again? Some things seem to be the same but to me something feels very different as well. Can recent history help us understand what comes next or is this a “new frontier”? First principles first – crude is a semi finite commodity. As a commodity, it is subject to significant price swings dependent upon demand changes or supply disruptions. Much of the past major crude price increases have been driven by either major supply threats or actual disruptions – some intentional and other complete surprises.
Rahm Emanuel, now the Mayor of Chicago, famously said “You never let a serious crisis go to waste. And what I mean by that, it’s an opportunity to do things you think you could not do before.” While what we are experiencing just now may feel like an oil price crisis, that’s not really the root cause. Where the crisis lies is in the high cost of recovering oil and gas – particularly from the North Sea. At the expense of stating the obvious, there are two variables at work which will determine the health of the oil and gas sector – price and cost.