‘Collaboration critical across oil and gas industry during downturn’

engineer power and energy-ndoeljindoel SSLlyod advises improving prioritisation of maintenance so that safety critical areas in oil and gas sector are addressed. (Image source: ndoeljind/Shutterstock)At the recently concluded Offshore Technology Conference (OTC) 2015, Lloyd’s Register Energy advised oil and gas companies to re-think their approach to safety, performance and technical innovation in order to secure world’s energy supply, from reservoir and refinery to beyond

During market downturns, collaboration across industry is critical in order to share best practice and evolve joint ventures, and this should not be hampered by a focus on cost reduction, according to the consultancy company.

A Lloyd’s Register Energy survey of attendees at OTC 2015 revealed that more than 36 per cent of respondents consider skills/knowledge shortage to be the primary issue. The regulatory environment (21 per cent), commercial barriers to collaboration on innovation (17 per cent), ageing assets (12 per cent) and inability to adopt technology (14 per cent), were also seen to be important issues.

Duco de Haan, commercial development director of Lloyd’s Register Energy, said, “As part of this, there is a need to understand where there are opportunities to leverage crossover technologies whilst addressing the issue of how we tackle potential knowledge shortage and the need to collaborate on innovation. These are all areas which Lloyd’s Register Energy has placed at the centre of its strategic focus as we support our clients to operate more safely and more productively.”

Other challenges facing the American oil industry include a continued focus on increasing safety in deepwater exploration, FLNG, developing cleaner and more efficient hydrocarbon technology, while work on new forms of energy provision must be stepped up.

At the close of OTC 2015, Lloyd’s Register Energy identified three short-term priorities the industry must address if future oil and gas assets are to be safely and reliably exploited — 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 skills, 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,” noted de Haan.

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