Fuels & Lubricants Magazine

Conference Report
It should be emphasized the need
for increased use of renewable energy
to maintain long term growth,
such as construction of large wind
and solar power plants. The major
O&G companies are on that path
already.
Costs and Investments
The must for conventional and nonconventional
oil and gas production,
as well as crude processing, storage,
transport and distribution is
to increase the safety of operations,
increase energy efficiency and decrease
cost of operations. The oil and
gas industry have to learn to work
and prosper at low product prices,
accommodating operational costs at
lower levels.
Investments as a consequence
of oil price drop had dramatically
declined over last two years and only
modest signs of recovery are seen
in 2017. It is essential that governments
and companies gain sufficient
confidence in market conditions to
start a new cycle of investments in
order to find new solutions, build
new technologies and solve the challenges
facing the oil and gas business
in the coming decades.
Investment in talents and
knowledge
During the 2014-2016 crisis oil and
gas companies were downsizing
their workplaces in order to contain
costs. Accelerated retirement among
older personnel was advised and
supported, a huge number of workers
were layoff. Oil and gas business
have lost a lot of skilled and knowledgeable
personnel. On the other
hand digital technologies and automation
have changed the business
and entirely new skillset are needed.
Education systems have not adapted
to the speed, change and demand of
industry in general, but particularly
of oil and gas industry. If something
essential is not done immediately in
oil and gas industry, very soon there
will be not enough talented specialist
not only to find new solutions, invent
new technologies but even run properly
and safely oil and gas operations.
It is extremely necessary to prepare
consistent long-term education
plans for young talents, develop targeted
recruiting methods and take
care of constant knowledge upgrading.
Therefore it is crucial priority
to invest in education and research,
to secure steady development and
growth of oil and gas industry.
All known alterna -
tive solutions to fossil
fuels could result in
only 15% reduction
of today’s oil consumption
by 2040.
New solutions are
needed to make the
change.
Partnership
To cover the increasing energy
demand, to make energy accessible
to the world community through
networks and infrastructure and at
the same time comply with stringent
environmental requirements is a difficult
and complex task. Partnership
between major companies, partnership
between companies and institutions
is critical to facilitate the process
of solving the task. Partnership
between countries and companies
is important for mutual trusting in
long term agreements. Partnership
between countries, governments
and companies with a shared sense
of purpose can create a positive and
stable geopolitical environment in
which solutions and agreements can
be successfully worked out.
Inventions and solutions
All discussed possibilities of development
in the oil and gas industry,
investments in known solutions
and technologies, as well as ongoing
research will not be enough to solve
all open issues and complain with
the Paris climate agreement. New
technologies, today’s unknown solutions
and new inventions are needed
to make a shift. We cannot say when
this shift will occur but the trends are
inexorable. Oil and gas industry is
used to up and downs and challenges
and is prepared to change again and
comply with the future requirements.
We have to rely on boundless
human imagination and inventiveness
for upcoming answers, it is
enough to see the solutions, science
and knowledge we have today that
five or ten years ago were unimaginable,
to gain confidence.