The consolidation of supply chain in emerging and established markets is one the key strategies adopted by a number of oil and gas companies to boost their competitiveness and profitability. This calls for the presence of integrated resources—initiatives, tools, and consultation—meeting a variety of sector-wide needs. With the presence of unexplored reserves in the U.K. Continental Shelf, to facilitate economic recovery of oil and gas up to 20 billion barrels, a new, integrated resource for online business development tool was launched on November 1 in the Oil & Gas UK’s Share Fair at Aberdeen Exhibition and Conference Centre.
The initiative is supported by Stork, a Fluor company. The resources form a part of supply chain hub hosted by Oil & Gas UK, and is developed by Oil and Gas Authority and the industry in general. This will provide players one-stop facility for all their needs pertaining to exploration, field production and development, and decommissioning.
Integrated Resources to Help Players Shift from Short-term to Long-Term Sustainability
This development of web-based tools marks a notable development for various players in shifting from short-term sustenance strategy to long-term profitability and sustainability, considering the marginal business environment the U.K. has. The development of industry-wide initiatives for establishing supply chain hub is supported by various stakeholders, trade associations, regional bodies, and several government agencies. The tools will help U.K. players establish world-class capabilities, especially with regard to areas of mature basin expertise, notably subsea engineering and high-pressure, high-temperature oilfield.
The Supply Chain Hub, along with the Efficiency Hub, forms a part of integrated resources that is available for meeting the needs of supply chain development in particular and the over oil and gas industry in general.