Lloyd’s survey at Offshore Europe

In the survey taken at this week’s Offshore Europe event, the issues of ageing assets and access to talent were jointly ranked first, with 29% of respondents identifying each as their primary concern. Legislation also featured, with 15% of respondents ranking it first, due to the increasing complexity of the global regulatory environment.

The survey

Peter Richards, Vice President Marketing and Communications Lloyd’s Register Energy, said: “Across the world, assets are reaching maturity, access to reservoirs remains challenging and many experienced specialists are nearing retirement. On top of that, the ‘digital oilfield’ brings an increased need for strong capabilities in mathematics, statistics and data alongside the traditional science and engineering skill sets. This survey reflects those industry dynamics.”

Offshore Europe

The theme of this year’s Offshore Europe, ‘Inspiring the next generation’, also reflects this, and recognises the need to understand what the industry’s future looks like and to build a talent pipeline to support it. But in the low oil price environment, many organisations need to make difficult decisions in order to achieve cost reductions – and that may prove to be counter-productive in the longer term.

Following the technical session on talent development which was chaired by LR Energy during the conference, John Nicolson HR Director, Lloyd’s Register Energy, commented: “Even as the energy industry braces itself, companies must keep one eye on the future – if the talent pool is diminished (in quality or quantity) the business will be less able to leverage the upturn when it arrives.”

The contemplated outcome

As the debate at Offshore Europe 2015 illustrates, how the industry addresses these challenges is critical in ensuring the continued long-term growth of the industry.

There are no easy answers but one thing is clear from Offshore Europe 2015: the industry is aware of the challenges and is actively looking for solutions to drive long-term growth.

Edited from various sources by Stephanie Roker

Published on 11/09/2015

Get your FREE Oilfield Technology magazine »

Get your FREE trial of Hydrocarbon Engineering magazine »

Get your FREE trial of World Pipelines magazine »


Related articles

LR: Safeguarding against the top safety concern on FLNG installations

LR has released a guidance note, which describes two different methods for cryogenic risk quantification: the initial cryogenic risk analysis (ICRA) and the advanced cryogenic risk analysis (ACRA).

New Lloyd’s Register integrity management service

Lloyd’s Register welcomes its new late-life integrity management service that targets the maturing assets which make up 70% of the world’s energy production.

Wärtsilä granted Lloyd's Register type approval certificate

The WTT11 tunnel thruster has obtained an LR type approval certificate after passing the Lloyd's Register classification society's type approval process.

Recommend magazines

  World Pipelines