With rigs stacked along the Scottish coast proving an ominous sign for Offshore Europe 2017, most surprising perhaps was the dearth of drilling contractors, major integrated drilling services providers and super majors in the exhibition halls.
Also sadly, Keynote Session VI quoted “2015 saw an increase in oil and gas related fatalities from the previous year [the oil price collapse began in 2014], bucking a multi-year trend of falling industry fatalities. Squeezed margins, job uncertainty, doing the same (or more) with less could all be pinned on this unwanted statistic”.
Unfortunately, the harsh-environment offshore drilling industry has taken a huge toll on drilling and related personnel. Since 2014 some 160,000 jobs are estimated to have been lost by Oil & Gas UK. Low drilling activity levels are a major concern as offshore exploration and appraisal work remains in the doldrums. Drilling activity remains at record lows with just 14 exploration and 8 appraisal wells being drilled last year.