The westernmost peninsula of Eurasia, Europe is bordered by the Arctic Ocean to the north, the Black Sea to the southeast, the Mediterranean Sea to the south and the Atlantic Ocean to the west. The economic and political association of 27 European member states, the European Union (EU) has developed a single market through which a standardized system of laws apply, and under this union, sixteen member states have adopted the euro as its common currency. In 2006, the EU had a gross inland energy consumption of 1,825 million tonnes of oil equivalent, with nuclear energy as the primary source of energy produced in the region. Currently, the EU imports around 82% of its oil and 57% of its natural gas resources.
Asset Management is the process or systems that monitors and maintains valuable assets for a company. In oil and gas, this often includes the practice of managing assets to achieve the greatest return, or the process of maintaining facilities to provide the best possible service to users. Using specialist systems, the Asset Manager will analyse oil and gas operations, to identify ways to reach the desired levels of production, conform with environmental regulations and minimise outages.