Over three hundred delegates are expected to attend Oil & Gas UK's forthcoming breakfast briefing entitled "Exploring Subsea: The role of subsea in extending life and enhancing recovery from the UK continental shelf (UKCS)." The event will be held at 7am on October 28, 2008 in Aberdeen and is sponsored by The Royal Bank of Scotland.
A high profile line-up of speakers will explore the significance and growth of the UK subsea sector now and in the future and consider how subsea technology is being used both to develop new oil and gas accumulations and to maximize the recovery of oil and gas from existing fields.
Malcolm Webb, Oil & Gas UK's chief executive, commented, "Thirty eight billion barrels of oil and gas have been extracted from beneath UK waters since production began in the UKCS and Oil & Gas UK estimates that while UK production is now in decline, 25 billion barrels remain to be extracted.
"To develop the smaller and more technically challenging accumulations typical of this mature basin will require not just significant capital injection but also, continuing innovation and the advancement of offshore engineering techniques. Fortunately, the UK already excels in these areas and it is timely that we focus a breakfast on subsea technology, a specialism in which the UK leads the world."
Thorsten Fischer, The Royal Bank of Scotland's senior economic advisor, will look at the importance of this specialist sector, its market prospects and the possible effects of the volatile economic landscape. Venture Production's field development manager, Chris Bird, will explain how his company has succeeded in reaching and developing so-called stranded reserves using subsea technology, while David Campbell, BP North Sea's director and vice president for renewal, will showcase the central role these innovations play in his company's mature investment program.
Oil & Gas UK's autumn breakfast will also explore how the UK subsea industry might sustain and build on its current position as global leader in the field, with Douglas-Westwood's director, Andrew Reid, outlining the opportunities that exist around the world as the requirements of oil and gas producers evolve.
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