WIRELINE ISSUE 27 SPRING 2014

WELCOME

I t’s been a seminal first quarter for our industrymarkedby the findings fromSir Ian Wood’s review.TheWood Report (p25) provides a timely intervention when the industry is at a crossroad andneeds fundamental change to secure its long-term future. high, the full potential of theUKContinental Shelf (UKCS)will not be realisedwithout significant improvement inproductivity, greatly improved exploration new andmoredynamic approach to regulation and taxation.The figures reported inour Activity Survey2014 providevaluable insight into the challenges ahead (p6 andp22). Sir Ianproposes anew, appropriately resourced, arm’s length regulator success, andurgent implementationof a Whilst capital investment is at a record

culture across the sector (p18).

and recommends that the industry, theDepartment of Energy&Climate Change andHMTreasury adopt a tripartite approach tomaximising economic recovery.There is very strong support for this new paradigmwithin industry.

Furthermore,Oil&Gas UKwillwork closely with theCivilAviation Authority (CAA) and the Helicopter SafetySteering Group following the releaseof theCAA’s review intohelicopter operations (p5). An ability to embrace change and the opportunities this brings has characterised the industry for over 45years.Wenowneed moreof the same to secure thenext phase and the immensebenefits for the economy and energy securitywhich success will bring.

Continuedgrowth will not be possibleunless we all pull together. It’s thereforegood to see theworkbeing

Q&A WITH SIR IANWOOD p25

“Ideally, the aim is to produce practical business plans for

carriedout byOil&Gas UK and itsmembers under PILOT, thegovernment- industry forum, around exploration, production efficiency, enhancedoil recovery and improved stewardship (p28). And in this issueof Wireline we alsohear more about the collaborationbetween academia and industry to advanceR&D and address skills shortages (p13), as well as how companies in the supply chain are approachingproduct development, reflecting the strong entrepreneurial

existing assets, discoveries and

QUICKLINKS Lookout for this symbol in themagazine and scan the accompanying QRcodewith yourhandheld device foreasy direct links to onlinematerial.Download the QRcode reader fromyour app store. prospects capable of deliveringmore of the remaining potential within each area.” p28

MalcolmWebb, ChiefExecutive, Oil&GasUK

Wireline ispublishedbyOil&GasUK, the leadingrepresentativeorganisation for theUKoffshoreoilandgas industry. Contact the editorial teamon editorial@oilandgasuk.co.uk. Findoutmore about advertising in Wireline at www.oilandgasuk.co.uk/advertising.cfm.

Editorial Team RupalMehta andCymoneThomas Contributors

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