Petrofac News 1700X397
23 March 2015

Future of the UKCS: How to succeed in a volatile market

Academia, service providers, operators and industry body professionals recently offered advice to young professionals in Aberdeen while discussing the “Future of the UKCS”.

Sponsored by Petrofac, the Q & A event was organised and hosted by the Energy Institute Young Professionals Network. A panel of North Sea oil and gas professionals, with a combined experience of 150 years, answered questions on how to succeed in a volatile market. With each of the panel having lived through at least one downturn in the price of oil, the 100 young professionals attending listened eagerly to the guidance on offer.

Walter Thain, Managing Director of Petrofac’s Offshore Projects & Operations business, gave insight into the challenges ahead for young professionals starting their career in the industry: “Grab any opportunity you can working with brownfield and mature assets. The North Sea gives the best training in this field which can be shared with international assets in the future.”

All panellists firmly agreed that collaboration and sharing information is crucial to the future of the UK oil and gas industry. Collaborate with colleagues, service providers and with clients; young professionals starting out were advised to strive towards this if the UKCS is to withstand the current market.