GVF Press Release

PRESS RELEASE

 

  ABERDEEN DIGITAL OILFIELD CONNECTIVITY DIALOGUE TO RENEW WITH BACKDROP OF CONTINUED OIL PRICE CRISIS

 

 GVF Oil & Gas Connectivity 2016: North Sea, Arctic Ocean & Atlantic Margin Dialogue to Address Central Question - What Near & Mid-Term Future for Exploration Budgets & Satcoms Spending?

 

 

Monday, 18 April 2016

 

London & Aberdeen  As the GVF-EMP Events Partnership engages with building-out its 2016 events topical remit to feature Cellular Backhaul: Smartphones & Tablets to the Satellite Network & the World in June, and AeroConnect 2016: The In-Flight Online Revolution in November, the Partnership will continue to facilitate and support the digital oilfield satcoms connectivity dialogue at the ninth Annual GVF Oil & Gas Connectivity 2016: North Sea, Arctic Ocean & Atlantic Marginevent in Aberdeen on 10th May 2016 (www.uk-emp.co.uk/current-events/o-g-connectivity-2016/), sponsored by Hughes, SES and Advantech Wireless.

 

Backdrop to what will be the 26th programme in the global GVF-EMP Oil & Gas Connectivity Series is the continued slump in the oil price. Even though, as at the beginning of April 2016, the price of Brent crude had ‘rallied’ to around US$39 a barrel, and later in the first half of the month rose to over US$41 – with some little anticipation of further price strengthening if the 17th April Doha, Qatar, meeting of oil producers had resulted in an agreement on a production cap that could have tightened up supply, which it failed to achieve – the North Sea continues to be part of the global oil & gas patch crisis, wherein much-troubled hydrocarbons sector companies are operating with a price-per-barrel of some US$25-30 below breakeven point.

 

Executive Director of EMP, Paul Stahl, commented, “Exploration investment levels continue to drop and even with such minor price rallies as noted above the oil price is varying little from around a level of one-quarter of the early 2008 all-time price peak. A more major 2016 recovery seems very unlikely.”

 

Martin Jarrold, Chief of International Programme Development at GVF, and Aberdeen conference chairman, added, “In this crisis context GVF Oil & Gas Connectivity 2016: North Sea, Arctic Ocean & Atlantic Margin will be principally concerned to answer the question: ‘With the oil glut and low price having the effect of severely curtailing exploration and future exploration/development plans, what are the effects on spending on satellite connectivity solutions?’ Another key question is: ‘Withabout 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 which meets ever-more critical connectivity and applications needs.”

 

Beginning from the standpoint that robust communications and networking solutions are an operational imperative for the digital oilfield, and for supporting innovative extraction technologies – thereby contributing to the North Sea’s oil & gas supplies being still of economic interest, with ultimately viable returns on investment – the conference will explore such themes and facets as: Big Data – generated out of the rapidly expanding satellite communications/Machine-2-Machine (M2M)/Internet of Things (IoT) interface; Cloud and Applications/Connectivity Imperatives for the Digital Oilfield – facilitating the transfer of oil/gasfield IT infrastructure, and IT personnel expertise, away from multiple offshore, or other remote locations, to centrally located headquarters in support of fully integrated operations which are ‘always-on’, and real-time; High Throughput Satellites (HTS) – bringing to the oil and gas industry user requirement multiple advantages, including lower space segment costs per megabyte, higher throughput rates, and greatly improved capacity availability; Cyber Security, the Networking & the SCADA Threat – the evolution of cyber threats and the exploitation of data vulnerability is advancing and it is now increasingly important to assess and respond to the new cyber landscape which threatens all secure critical information infrastructures, including those in oil and gas; and, Mobility – as oil & gas companies align their upstream business processes with mobile technology, applying mobile applications to aid communication and workflow and fostering enhanced workforce productivity.

 

Further information about all future GVF-EMP events is available from www.uk-emp.co.uk/current-events/. Additionally, please contact Martin Jarrold with GVF atmartin.jarrold@gvf.org, or Paul Stahl with EMP at paul.stahl@uk-emp.co.uk.

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Calendar of events

  • GVF Oil & Gas Connectivity - North Sea, Arctic Ocean & Atlantic Margin
  • IoT World
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