Aberdeen – Global Market Outlook Business Breakfast ‘What Next?’
The Marcliffe Hotel, North Deeside Rd, Pitfodels, Aberdeen AB15 9YA
31 January, 2019
News reports suggest analysts are optimistic that 2019 will improve upon 2018 activity with regard to exploration and attendant project development sanctions, development projects and decommissioning activities. What will 2019 bring from a global outlook and how will it impact the North Sea?
This event offers an opportunity for the business community to hear about the market from senior people within the industry.
Chairperson – Tony J A Laing, Research and Market Accelerator Director, NSRI
2018 has proved another volatile year with initially strong recovery followed by renewed weakness in oil prices against a backdrop of macro-economic headwinds globally and Brexit related political turmoil in the UK. The oil services industry will have gained some confidence of a future upturn in the cycle but real momentum in the market continues to be slow. As we enter 2019 how will industry activity levels play out given this dynamic market place and how will this impact strategic decision making, company valuations and M and A?
Decommissioning is no longer a thing of the future. However, our industry continues to operate in an environment of considerable uncertainty. Commodity prices remain volatile, assets continue to change hands and operator strategies need to balance investment in maximising economic recovery with funding of decommissioning commitments. These factors make it difficult for the operating community to generate long-term business plans which incorporate predictable decommissioning campaigns that assist the supply chain present cost-efficient, profitable, solutions. As we move further into the implementation phase, how is our sector responding to these challenges?
Speaker- Christopher Pearson, Manager, Marginal Developments, The Oil and Gas Technology Centre (OGTC)
An introduction to the OGTC and the opportunity of realising the value of the UKCS using technology where appropriate. Marginal Developments is focused on delivering technology investments that can reduce the life cycle costs of stranded reserves and potentially extend the life of the UKCS. One vision of the future and technology investment trends as seen from within the OGTC.