Roughly 200 oil and gas professionals from the Houston area attended the Lloyd’s Register training center open house on June 3rd to hear about and discuss innovations in marine, oil and gas, and business assurance. Visitors to the open house included operators, contractors, manufacturers, service companies, universities, industry associations, news media and diplomats. All were invited to attend briefings, software demonstrations and facility tours, as well as to see the drilling equipment located in the Lloyd’s Register training center.
With such a large group of people interested in advancing the energy industry, we felt compelled to conduct an informal survey of their opinion on the next industry recovery we are all anticipating. According to the survey results, the group was largely optimistic that we would see oil prices above $70/bbl within the next year with 18% forecasting a recovery in the next six months and 53% expecting a recovery within seven to 12 months. There was nearly complete consensus that the E&P industry is prepared for the next recovery. 23% of the respondents reported the industry is prepared to a great degree; while 75% felt it is prepared to a moderate degree. When asked what areas of operations would prove to be more challenging in the next recovery, the answers got more diverse. Probably not surprisingly; 61% of the respondents thought personnel would be the greatest challenge. Of the remaining respondents, 27% felt that processes would pose a greater challenge, while 12% felt equipment would be the greatest challenge in the next recovery.
The answers to these three simple questions got more interesting when the respondents were categorized by the type of company they worked for; operator, EPC, service company, contractor or OEM. In general, people working for operators and OEMs tended to be more optimistic on the time frame of a recovery and the industry’s preparedness. People working for EPCs, service companies or contractors were less optimistic. While people working for operators tended to weight the challenges of personnel, process and equipment fairly equally; people working for the other types of companies mostly weighted personnel as the biggest challenge. The exception was people with OEMs who rated processes as the greatest challenge of the next recovery.
Lloyd’s Register provided the open house as a forum for open discussion about technical advancements enabling companies to operate more efficiently - everything from demonstrations on the various ISO standards to preventive maintenance, to advanced uses of sensor technology applications for oil and gas equipment were showcased.
“At the open house, we demonstrated new technology innovations that are currently being deployed in the Gulf of Mexico. By applying risk modelling techniques and condition monitoring sensors, we can ensure the right amount of maintenance is performed and improve the safety and the risk profile of any given operation or asset,” said Duco de Haan, Commercial Development Director for Lloyd’s Register Energy. “While the industry and our clients are focused on optimizing their business, we are confident that we can play a very important role in their organizations. Technology innovation should not be seen as a barrier but as a catalyst for further improving the oil and gas sector,” he concluded.
Another focus of the open house event was to raise awareness of the hands-on technical training classes offered in the 36,000 square foot facility, located at 15740 Park Row Drive in the heart of the energy corridor in Houston. Lloyd’s Register showcased the state-of-the-art facility to visitors and explained how training can be customized to meet their needs. Customers can bring in their own equipment or use the existing equipment in the facility.