Well Services Report 2014

8. TheWell ServicesContractors Forum’sMission

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TheWell ServicesContractors Forumhas four keyaims:

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•Gaining recognition for technology •Promoting thealignment of objectiveswithoperators, suppliers andother contractor companies •Challenging thebarriers tomaximise recoveryofUKCS reserves •Encouragingefficient contractingpractices

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Respondents to the surveywereaskedquestions surrounding thedeliveryof these four keyaims.

8.1. GainingRecognition for Technology

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Well services companies believe that in recent years there have been significant advances in technologies developedwithin the sector and industry support for thishas remainedstable.

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The rewards received for value-adding technologies is expected to increase in 2014, but despite this, the overall usageof existing technologies is expected todecline.

The survey also reveals that a number of companies believe that increased use of risk/reward contracts would enhance industry’s recognition of the benefits of developing and introducing new technologies. This includes a significant positive impact on aspects such as the recovery efficiency of hydrocarbons andmay lead totime and cost savings.

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Figure8: Recognitionof Technology

Good

Useof ExistingValue-­‐AddingTechnologies Support forDevelopment ofNewTechnologies Reward forValue-­‐AddingTechnologies

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Fairly Good

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Neutral

AverageRating

Fairly Poor

Poor

2005

2006

2007

2008

2009

2010

2011

2012

2013

Source:Oil &GasUK

2014Forecast

Source:Oil&GasUK

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