With a dialogue focusing on a number of new key questions that go beyond core concerns about the near and mid-term future for the oil industry’s exploration budgets and the consequential effects upon satellite communications solutions spending, the GVF Oil & Gas Connectivity 2016: North Sea, Arctic Ocean & Atlantic Margin conference takes place at the Aberdeen Marriott Hotel on May 10th—this 9th Europe-focused event in the series is sponsored by Hughes, Advantech Wireless, Intelsat, and SES.
While recently having risen to a US$48.50 high, Brent crude had fallen back, as of the above date, to under US$45.00, reigniting concerns about the supply glut, and maintaining the crisis for the North Sea’s oilfield operating companies which are saddled with a price-per-barrel of some US$25-30 below breakeven point. It is in the midst of this continuing crisis that some deeper, key, questions of concern to satellite solutions vendors—which provide the mission-critical connectivity and applications requirements of the Digital Oilfield—abound.
Martin Jarrold, GVF Chief of International Program Development, and chairman of the Aberdeen conference, said, “Two of these questions are, With the oil glut and low price having resulted in an unstable and volatile market and having severely curtailed the exploration and future exploration/development dynamic, what are the likely consequential effects on longer-term oil company investment intentions and how will this affect satellite connectivity solutions purchasing?
“Another key question is, with about one-third of the known recoverable resources below the United Kingdom Continental Shelf (UKCS) remaining to be exploited, and given that this is not easy oil, but marginal oil, located in even more challenging extraction/production environments, when will essential communication solutions budgets increase to a level that meets ever-more critical connectivity and applications needs.”
Yet another important question, according to Paul Stahl, Executive Director of EMP, is, “To what extent are the satellite solutions providers, for whom the oil exploration companies have always been an important customer, going out into other markets, increasingly diversifying their end user base so as not to be so reliant on the hydrocarbons sector? Addressing this particular issue alone is an important enough reason for solutions vendors—and solutions purchasers—to attend the event and contribute to the dialogue.”
And, linked to that particular question, according to Mr Jarrold, is, “To what extent are the struggling oil companies looking for new, alternative, non-traditional, satellite connectivity solutions providers, based on their better-priced offerings?”
The Aberdeen program debate, for which registration is entirely free-of-charge, will be answering these and many other questions, and is divided into four principal sessions, each encompassing a range of key points in the current oil & gas connectivity dialogue.
For additional information regarding this event and for registration, please visit uk-emp.co.uk/current-events/o-g-connectivity-2016/.
Further information about this and all future GVF-EMP events, head over to https://www.uk-emp.co.uk/current-events/.
