The newly appointed conference chair of SPE Offshore Europe 2017, Schlumberger’s Europe & Africa President Catherine MacGregor, has urged the industry to reinvent itself in the face of one of the most severe downturns in decades.
In an SPE statement, MacGregor said that companies need to find new ways of working together to “build sustainable business models” and said that the industry has to be ready for growth.
“Visibility is limited on the timing of market recovery but it is inevitable as the balance of supply and demand eventually becomes tighter. The longer that E&P investment stays below production replacement needs, the sharper the recovery will have to be to meet future demands. Now is the time for the industry to reinvent itself to be ready for growth, having answered the cost and efficiency questions exposed during this downturn,” she said.
SPE Offshore Europe has been held every two years in Aberdeen since 1973. In 2015 the event attracted over 1,500 international exhibitors and 55,000 attendees from more than 100 countries.
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