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Walter Thain to lead offshore oil and gas industry efficiency drive

Published:  13 July, 2016

Walter Thain, managing director of Petrofac’s Engineering & Production Services (EPS) West business, is to lead the UK offshore oil and gas industry’s efficiency drive as chairman of the Oil & Gas UK Efficiency Taskforce (ETF), it was announced recently.

Launched last year to provide the catalyst for greater cooperation to improve efficiency across the sector, the ETF aim is to share good practice and spearhead cross sector projects that will benefit the industry as a whole.

Walter Thain will take over the leadership of this important group whose work is seen as critical to boosting the sector’s competitiveness and helping attract investment back into the UK Continental Shelf.

He succeeds John Pearson of Amec Foster Wheeler, who has stepped down from the role, having been appointed group president, Americas at the end of May this year.

Stephen Marcos Jones, Oil & Gas UK’s director of Business Excellence, commented:

“We are delighted Walter will be leading this pan-industry group of experts – I feel certain he’ll ably guide this industry to cooperate to become more competitive in the global marketplace.

“I’d like to take this opportunity to add sincere thanks, on behalf of the whole industry, to John Pearson, for his significant contribution in launching the ETF, providing the great foundations we can build on in our second year.”

Walter Thain commented: “I look forward to meeting the team and getting on with the sizeable tasks ahead. It’s more vital than ever that our industry pulls together and makes a collective commitment to working more effectively, efficiently and co-operatively in order to make a difference.

“Having joined the Board of Oil & Gas UK this spring, I’m well aware of the progress we are making towards becoming more efficient – from taking a fresh look at inventory management through companies sharing details of some 200,000 spare parts online; to putting in place the use of standard rather than bespoke specifications in subsea design and construction and potentially saving 30% on costs in the process.

“Undoubtedly, a change in culture is the key to finding a better way to do business in the UK Continental Shelf and I’m looking forward to playing a significant role in securing a sustainable future for this basin.”

Walter leads the Engineering & Production Services (EPS) West business - which provides life of asset services from conception to decommissioning - having spent almost fifteen years with Petrofac in a variety of roles.

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