Operating costs have been listed as the critical “change issue” by the offshore industry, according to research at this week’s ONS 2014 in Stavanger.
A Lloyd’s Register Energy survey of exhibitors at ONS 2014 revealed more than 44% of respondents consider operating costs to be the primary issue. Technology (19%), decommissioning (14%), supply chain (14%) and knowledge shortage (9%), were also seen to be important issues.
Other challenges facing the industry include a continued focus on increased recovery, developing cleaner and more efficient hydrocarbon technology, while work on new forms of energy provision must be stepped up.
These issues were borne out of an oil and gas executive dinner that the company recently held in Aberdeen on the factors affecting the North Sea’s future.
At the close of ONS 2014, Lloyd’s Register Energy identified three short-term priorities the industry must address if future offshore assets are to be safely and reliably exploited.
They are: striking the balance between safety critical issues and operational pressures; improving the prioritisation of maintenance so that safety critical areas are addressed and not deferred; and ensuring competence through technology and innovation to help deliver on upcoming energy sources -- maximising economic value and energy security issues.
“The responsibility for ensuring the future of the oil and gas industry lies with each of us – business, academics, regulators and government alike. By working more collaboratively, more intelligently and with a greater vision, then we will all effectively advance the industry’s success – without this collaborative approach we are effectively advancing the industry’s demise,” highlighted John Wishart, Director of Lloyd’s Register Energy.