UK energy service companies have to be able to “walk and chew gum” if the industry’s Vision 2035 scenario is to be achieved, a boss at the Oil and Gas Authority (OGA) says.
UK oil chiefs believe their “vision” for the future can play a crucial role in tackling one of the biggest challenges ever faced – the energy transition.
Our industry’s contribution is needed now more than ever.
Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalise on change whilst remaining stable and sustainable and, more importantly, will there be enough return for all?
The North Sea will need investment of £200billion in order to add another generation to its production life, according to a flagship report published today.
Oil and Gas UK has revealed its 2019 flagship event will focus on striking a “balance” between maximising North Sea recovery and meeting climate change targets.
No sector deal also means no delivery of Vision 2035, a former North Sea chief will warn today in evidence to the Scottish affairs committee at Westminster.
The UK’s energy secretary said yesterday that he felt “very positively” about the oil and gas industry’s bid for a sector deal.
At the time of writing I’m hearing mutterings about the need for the oil and gas industry to be given a so-called sector deal.
History is littered with examples of brands that have dominated their respective markets but, through a combination of lack of innovation, inefficient execution and focusing internally instead of on customers, have gone on to suffer a massive fall in market share against rivals.
North Sea industry needs more “transparency” on the delivery of a multi-billion pound sector deal before it can make greater strides to secure its future, oil chiefs said.
The North Sea sector needs to start making its vision for the next 17 years a reality, rather than getting bogged down in details, industry chiefs said today.
The head of a north-east economic development body said yesterday that a strong oil and gas industry would bolster efforts to create an “economic renaissance” in the region after the downturn.