Oil and Gas Division Update
The global Oil and Gas industry continues to adjust to an oil price currently fluctuating around $50/BBl.
Companies continue to pursue opportunities to improve efficiency and reduce cost without compromising health, safety and environmental protections.
As a relatively high cost region the UK oil and gas industry has seen significant and continuing job losses with all the knock on implications. However there are still significant projects being progressed.
In the last few weeks BP has moored a new build Floating Production Storage and Offloading (FPSO) vessel, the Glen Lyon, over the Scheihallion and Loyal Fields in the North East Atlantic West of Shetland.
Also in the last few weeks BP has installed the modules on the new Clair Ridge Platform on the UK Continental Shelf West of Shetland.
These and other ongoing projects will require personnel to operate them over many years to come.
Our Institute has a role to play in encouraging and supporting people into the Oil and Gas Industry.
The IOM3 runs a schools affiliate scheme and are actively looking for exhibits that they can use in the classroom – do you have something that you could donate?
Our Institute has been very successful at recruiting student members but, like other Institute’s, we find that the retention rate is relatively low.
A mentoring programme to help Younger Members with their early career development and the attainment of professional grades and qualifications has been proposed. If you would like to get involved please get in contact.
Oil and Gas Division Chairman
19th June 2016