IRO-EY Oil & Gas Industry Forecast – 28 March


Over 200 people from the offshore & maritime industry gathered at STC Rotterdam to learn from what was presented.

Malcom Dickson from Wood Mackenzie took us deep into the recent past developments with regard to CAPEX & OPEX in the global Oil & Gas industry:
• Operating costs have gone down significantly the last few years, but companies still need around $ 55/bbl.
• Investment in the North Sea is dropping except for Norway.
• Decommissioning is a vast opportunity for the service sector

EY – Guillaume Petit – presented their 2016 Results Dutch Oilfield Services Survey. As main opportunities were identified:
• Offshore wind farms
• Decommissioning activities
• Use of innovative technologies
• Strategic collaboration between OFS companies and operators

Two challenges are mentioned:
• Risk of talent loss
• More international footprint needed for OFS companies

Also EY – Fay Shong – led us through the enormous potential areas that digitalization has to offer to the somewhat conservative O&G industry.
Main conclusion and advice: Start now, it will pay off definitely.

Last but not least EBN – Jan Willem van Hoogstraten – presented the content of the Masterplan Decom & re-use and an update on the progress.
The sense of urgency is widely acknowledged and all stakeholders seem convinced that now is a the time to act. 2017 will prove to be a vital year in actually achieving the goals set out in the Masterplan.