How big a role do you think the O&GME and RPME Awards, now in its 8th year, play in recognising and rewarding laudable work in the regional industry?
In recognising and rewarding achievements, the Awards encourage the industry players to invest in new diversification strategies and a movement toward innovation. The volatility of the market has adversely affected some countries that depend heavily on oil revenues. Looking through the award winners of the eight years, we can see that bold steps have been taken by companies working differently to improve cost, efficiency, HSE and operational excellence.
What is it about the Awards that made you decide to sponsor it?
At AVEVA, we are continuously motivated by success. The Awards are a way to promote the momentum that great things are currently achieving, which will inspire others to innovate for the future. Sponsoring the Young Oil & Gas Professional of the Year Award is important to AVEVA, as the future belongs to the youth of today – they are the next innovators and leaders.
Considering it is your first time as a sponsor, do you agree that the Awards truly recognise quality work and talent in the industry?
The O&GME and RPME Awards speak volumes. As a coveted third-party endorsement of achievement, the Awards place the nominees and winners at the forefront of the industry. Years of support from the biggest and best NOCs and service providers stand as testament to the quality of the recognition gained by being a part of the Awards.
Why, according to you, is it important to celebrate success in the energy industry?
We often focus on what is not working properly so that we can change it, and forget to recognise what is gone well and to celebrate it. Celebrating success through the Awards helps focus on what positive things have been accomplished in the energy industry.
How necessary do you think is it to recognise the stakeholders’ performance in the 12 categories of the Awards?
While progress has been made across certain areas, the industry is not yet where it needs to be. Refocusing attention on new technology for preventative strategies and programmes to maintain and enhance momentum in operational excellence, health and safety, and corporate social responsibility is crucial.
How far do you think our efforts to highlight downstream operations, along with recognising achievements in the upstream segment, through the Awards are justified?
The downstream segment includes complex and diverse activities and is experiencing a period of rapid change. With refining margins under pressure for the medium and longer term, largely because of overcapacity and relatively slow demand growth, it is right to highlight the achievement of the players who improved their ability to compete more aggressively in the market, through a focus on new initiatives or technologies.
With crude oil prices trading at around $50 a barrel and with companies across the value chain having to cope up with new realities, what challenges and opportunities is the sector likely to witness going forward?
The sector is capable of constant innovations and can adapt to a rapidly changing world. The elimination of significant knowledge and skills in the last wave of cuts could push development project costs up substantially. Those who embrace new digital initiatives to limit the loss of valuable knowledge will benefit most. There are huge opportunities for many to reinvent themselves and be disruptors implementing dramatic changes in technology to continue maximising efficiency levels.
