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Oil & Gas UK evaluates industry prospects for 2010 after a challenging year
| Date: | 27 Jan 2010 | | Details: | Oil & Gas UK's 2010 Activity Survey will be presented at its first quarter breakfast briefings of the year on 25 and 26 February in Aberdeen and London respectively. Speakers at the events will assess the state of the UK offshore oil and gas industry after a turbulent year in which the industry had to respond to economic constraints such as banking restrictions on capital, low oil and gas prices and face the challenges of a maturing UK Continental Shelf (UKCS).
Speakers will examine industry prospects for 2010, based on Oil & Gas UK's survey of its members' exploration, investment and production plans and consider how changes to the tax regime will affect offshore activity.
Mike Tholen, Oil & Gas UK's economics director, will present a fresh outlook for the UK's oil and gas sector. He said: "Whilst 2009 saw a slowdown in activity, there was a great deal going on behind the scenes. Our 2010 Activity Survey will examine how successful companies have been at reigning in costs and improving productivity in the face of a turbulent year for commodity prices. We will also assess the impact on investment and security of supply for the UK economy."
John Pearson, managing director for AMEC, will reflect on how the forecasts might affect the prospects of companies operating in the supply chain. He said: "2010 is in many ways a litmus test for our industry in the UK. The Activity Survey offers us a fascinating opportunity to predict the year ahead and also to consider our behaviours and responses. There cannot have been many years where choosing wisely will have such a profound impact on our success in the future. I will reflect on the survey results, explore some of the key themes emerging, and highlight some of the choices we collectively face."
The Aberdeen breakfast briefing, which is sponsored by The Royal Bank of Scotland, will be held at the Aberdeen Exhibition and Conference Centre on 25 February. John McCreery, a Partner with Bain & Company, will join the speakers in a panel session following the presentations.
The London event, which is sponsored by Herbert Smith and The Royal Bank of Scotland, will be held at Herbert Smith on 26 February where Ed Crooks, Energy Editor at the Financial Times, will join the panel.
Oil & Gas UK's breakfast briefings present an excellent opportunity to network with industry colleagues and to be informed of the latest developments in the UK oil and gas sector. To book a place, go to www.oilandgasuk.co.uk/new/events.
ENDS | | Contact: | For further information, please contact:
Rachel Tawse on 01224 577279
27/01/10 |
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For all press enquiries please contact:
Trisha O'Reilly at Oil and Gas UK. Tel: 0207 802 2422 Email: toreilly@oilandgasuk.co.uk
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