SUT Aberdeen Branch Business Breakfast – The Changing Times of the Energy Sector

April 20, 2021
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Date(s) - April 20, 2021
7:30 am - 9:30 am

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The SUT (Society for Underwater Technology) are pleased to announce their annual Business Breakfast, a webinar on Tuesday 20th of April between 07:30 hrs and 09:30 hrs (UK time). Please register on the SUT website here.

The energy sector remains one of the most economically important sectors of the UK economy and is changing rapidly before our eyes to achieve the long-term objectives of net-zero. What are the immediate impacts and can we discern the potential medium and long-term effects ? We should see the light at the end of the tunnel, not as a train coming towards us, but as a new future of opportunity for the subsea sector. The three speakers will help show the way in this annual outlook.

Mike Beveridge, Simmons & Partners – A New Journey Begins:

Co head of International Energy and Power Infrastructure at Simmons Energy – a division of Piper Sandler, will take a look back at the last 12 months, and a look forward into the future, to discuss the overall energy macro, capital market sentiment, company valuation frameworks and M and A activity, trends and themes.

Henning Bjovik, Rystad Energy – The Subsea Market – how to navigate a changing landscape:

After a Covid-19 imposed downturn in 2020, the subsea market finds itself in a new trough, just four years after the previous one. This itself creates many challenges, and at the same time, as the market starts to recover, we are facing a changing landscape. The downturn has accelerated the upstream industry’s shift towards lower-carbon business strategies, with operators setting ambitious targets and making significant commitments in the renewables space, as well as increasing the focus on reducing carbon intensity for oil and gas assets. But not only is the energy transition upon us, in the current environment, with a big focus on low breakeven price, cost-effective production and short payback time, operators take a hard look at their portfolios. We have already seen numerous examples of projects going back to the drawing board – just to be scaled down and phased. Is the end of subsea mega projects fast approaching? We take a closer look at how the market dynamics are shifting, how the future subsea market might look like, how fiscal policies are affecting the subsea market, the importance of strategic decisions, and last but not least how technology will play a key role going forward.

Martyn Tulloch, OGTC – A Net Zero North Sea – the changes, the opportunity and the technology:

The UK offshore energy sector has reached a pivotal moment, a watershed in our industrial history. A reimagined North Sea, an integrated net zero energy system, will be essential if the UK is to meet its Paris Agreement commitments. This presentation will outline why the experience and expertise forged over the last 50 years must be used in partnership with transformational low-carbon technologies to meet the challenges and grasp the opportunities presented by the UK’s commitment to net zero.

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