Oil be there for you: collaboration in the UKCS has been saved
Oil be there for you: collaboration in the UKCS
Encouraging collaboration across the oil and gas supply chain, building resilience in a challenging environment
Over 40 billion barrels of oil equivalent have been recovered from the UK Continental Shelf (UKCS) since 1967, providing over half the UK’s energy needs. While there’s potential for another 20 billion barrels to be extracted, falling oil prices and rising costs saw the profitability of companies involved in oil and gas extraction fall in 2015 to its lowest level in 10 years.
Companies operating in the UKCS support around 375,000 jobs in the UK and are a significant contributor to our economy and critical to our energy security. In FY16 we launched Making the most of the UKCS: Collaborating for success - a project aimed at encouraging collaboration across the oil and gas supply chain to help clients become more efficient and resilient in the face of an increasingly challenging environment.
We surveyed operators and supply chain companies, looking at the attitudes, motivations and expectations around collaboration in the UKCS. We provided over 30 oil and gas companies with analysis on the findings, helping them identify areas of the business where closer supply chain collaboration can improve efficiency, reduce costs or help reach strategic goals.
The project has attracted interest from parliament and the UK oil and gas industry trade body, Oil & Gas UK (OGUK), which has established our survey as the measurement tool for its Industry Behaviours Charter. Our Collaborating for success project will run at six-monthly intervals to provide critical feedback to OGUK’s board, which is comprised of twenty-four of the leading operators and supply chain companies in the UKCS.
Other Deloitte member firms are also involved and we are planning to run the survey simultaneously in the US, Norway, the Netherlands and Australia in September 2016, allowing us to provide international companies with a global view of collaboration.
Impact Report team