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ONS ’14: Lloyd’s Register Energy looks to the future

STAVANGER, Norway -- Lloyd’s Register Energy has spent this week at ONS 2014 challenging oil and gas companies to re-think their approach to safety, performance and technical innovation to secure the world’s energy supply in a sustainable way, from reservoir and refinery to beyond.

“According to demographers, the world’s population will reach 8.5 billion people by 2035. These billions of people will need a stable economic environment and sustainable energy supply to meet the needs of a growing population,” highlighted Jason Knights, global communications manager from Lloyd’s Register Energy. "So where does this leave the oil and gas industry not only to meet the needs for 2035 of a heavily populated planet, but here and now?”

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, 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 prioritization 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 -- maximizing 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.



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