Petrofac News 1700X397
10 March 2016

Petrofac addresses collaboration and crisis at event for young professionals

The Energy Institute Young Professionals Network (EIYPN) recently held its first event of the year, addressing the question: ‘Can we collaborate our way out of a crisis?’

Around 80 young professionals attended the sold-out event in Aberdeen to debate with and pose questions to a panel of leading industry experts.

The panel discussed the progress being made to increase cooperation in the industry and with the Government to encourage economic recovery in the UK Continental Shelf (UKCS).

Panel of 6 people sitting down

Andrew Ferguson, Operations Services Vice President for Petrofac Engineering & Production Services West, took part in a lively debate, alongside representatives from Oil and Gas Authority, Oil & Gas UK, Brodies LLP and TAQA.

With more than 25 years’ experience in the oil and gas industry, Andrew was able to impart his experience of the industry’s cyclical nature, and to articulate examples of Petrofac’s own collaborative initiatives. He also shared his views on what more could be done to support the recovery of the UKCS.

Andrew said: “Collaboration is a word that has been used frequently across the industry over the past 12 months, and will continue to be a feature for the foreseeable future. We’re making progress in our efforts to increase cooperation; our tripartite logistics agreement with Eni Hewett and Faroe Petroleum is a prime example.”

However, Andrew maintained that there’s more we can do to streamline resources and ways of working.

“One area we recognise as having significant potential for collaboration between UKCS licence holders and ourselves is the extraction of small pools which are in close proximity to one another. Unless approached collectively, these reserve pools are just not viable in the current market.”

Find out more about our collaborative approach to working in the UKCS.