The oil and gas industry is full of opportunities, despite the current uncertainties was the welcome message from a recent EIYPN debate.
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Attendees of The Energy Institute Young Professionals Network (EIYPN)’s “The Future of the UKCS – Succeeding in a Volatile Market” debate received the news from the high profile event panel.
Panellists at the Petrofac-sponsored event, moderated by Sarah Hutcheon, Strategy & Business Acquisition Manager for CSL, included Walter Thain (Managing Director Offshore Projects & Operations, Petrofac), Dave Lynch (Vice President Reservoir Development, BP), Sian Lloyd Rees (Senior Vice President/Head of Strategy, Business Development & Marketing, Aker Solutions), Michael Tholen (Economics Director, Oil & Gas UK) and Paul de Leeuw (Director, RGU Oil and Gas Institute).
Collectively, the panel looked at what measures are required amidst rising costs and a fall in production ahead of the Budget announcement, and the prospects available for young professionals who have not previously experienced a downturn.
Victoria Aston, Chair of the EIYPN, said: “We were delighted to welcome so many young professionals at our first event of the year. There was an eagerness to hear what academia, service providers, operators and industry body professionals had to say about the industry’s challenges and opportunities, given the uncertainties we are all encountering on a daily basis.
“With the majority of the panel having lived through at least one dip in the price of oil, there were useful anecdotes as well as reassurance to attendees that our industry is cyclical and with every downturn comes an upturn. Hearing from people who have been here before was a comfort for many.”
Career advice was also on offer with one panel member encouraging the audience to grab the brownfield experience that’s currently on offer, with the North Sea providing the best training in this field which can then be shared with international assets in the future. In addition, all panellists firmly agreed that collaboration and sharing of information is crucial if the UKCS is to withstand the current conditions.
The EIYPN’s next event will focus on managing crisis in the energy sector and will be held on Thursday 4 June at 6.30pm at the Carmelite Hotel, Aberdeen.