Oil & Gas UK’s 2015 Share Fair takes place at the Aberdeen Exhibition and Conference Centre today (November 4), with over 1000 one-to-one sessions taking place.

Opening the event, Deirdre Michie, Oil & Gas UK’s chief executive, addressed some of the 900 delegates registered:

“We all know that our oil and gas industry is going through really tough times with high cost, low efficiency and low oil prices. But it is good to see that there is a growing understanding that a new way of doing business has to be the way forward if we are to secure an enduring industry through this downturn.”

Deirdre Michie added:

“Today, at Share Fair, we are in a unique position to help drive a more co-operative approach - tackling cost and improving efficiency to ensure this great national asset can compete in a global marketplace, and your businesses can continue to compete at home and abroad.

“Stopping activity and cost cutting have been and continue to be levers that get pulled as companies try to manage their way through these times. But we can also see a really positive momentum building in terms of seeking sustainable improvements in efficiency, and it’s in this area, as well as the pan industry efforts, that we really need to drive our focus and efforts.”

Deirdre then introduced John Pearson, Group President Northern Europe and CIS for Amec Foster Wheeler, and Co-Chair of Oil & Gas UK and leader of the industry’s Efficiency Task Force (ETF). He added:

“We’re here today to try and forge a path between the barriers industry is facing and the solutions I know the supply chain has. We need you to help in fast tracking identification and implementation of smart solutions.”

Referencing his role leading the ETF, he noted:

“I’m pleased to announce that today we are asking for your support for the proposed Efficiency Charter. Whilst we know this alone won’t solve the issues we face – it proves a strong framework for how we must work together in the future. This document has broad Oil & Gas UK Board approval and today, I’m asking you to support this concept of an efficiency charter – which will be formally launched in the coming weeks.”

John Pearson also noted that Share Fair would see a preview of a Rapid Efficiency Exchange:

“In encouraging the sharing of successful efforts to improve efficiency and sharing knowledge, I hope this will be a catalyst for change across the industry. The new electronic system will comprise efficiency lessons, simple dashboard of cost and safety indicators across the industry, view of progress against ETF objectives. It is a sector first, and we will be inviting the industry to not only promote what it is doing well – but share those problems we can tackle together.

Stephen Marcos Jones, Oil & Gas UK’s business development director, added:

“In response to the tough economic conditions the industry is facing, Oil & Gas UK is doing all it can to drive increased co–operation to help the sector improve its efficiency. We hope that this year’s Share Fair will be a major platform for debate around our concerted effort to increase the industry’s efficiency, in turn marking the launch of a new way of doing business.”

“Transforming the culture of our industry is the key to unlocking greater efficiency. In the next phase for the North Sea, we need to see a demand led supply chain, a new constructive dialogue between operators and suppliers – crucially, suppliers must be part of the solution.”

Share Fair will also give attendees the opportunity to be among the first to hear from major operators and contractors about their strategies for future projects in the North Sea. Representatives from AMEC Foster Wheeler, BP, ConocoPhillips, EnQuest, Nexen, Petrofac, Shell U.K., Talisman Sinopec, Total E&P Limited and Wood Group PSN will each deliver eight presentations throughout the day.

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