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Graham Hollis, senior partner for Deloitte’s Aberdeen office (pictured), commented on Oil & Gas UK’s flagship report into industry performance, Business Outlook 2019.

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In Focus

Sparrows Group Cable and Pipe Lay Solutions (CPLS) division says it has more than doubled its business during 2018 thanks to an upsurge in activity in the renewables market.

Peter Brotherhood, part of Avingtrans PLC, reports it has secured an order to supply steam turbines for a floating production vessel. As part of the deal, which is worth in excess of £10 million and is expected to be delivered during 2020, the business has also secured an option to provide a similar set of turbines for a yet-to-be-confirmed, potential future vessel.

MP Filtri has launched its new DEH series of ATEX clogging indicators.

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Editor's Comment 

The UK oil and gas sector is fighting hard in a bid to restore competitiveness, and expects to have improved efficiency and its average unit operating cost by more than 40% compared with two years ago.

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The current challenges for the offshore oil & gas industry are significant. But it is also important to recognise there are also continuing opportunities. Concerted action by the industry to improve efficiency across the sector is leading to an estimated 22% – over £2 billion – reduction in the cost of operating existing assets by the end of 2016. Supported by the first annual production increase for 15 years, the unit cost of operating UK oil and gas assets will also improve.

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