Middle East Geosciences Conference & Exhibition

Thursday, Mar 10, 2016 @ 8:00am
Strong and unpredictable fluctuations in global oil prices are becoming cyclic and are having a large impact on the industry by driving short-term responses from oil companies. At the same time, the prospective resources of hydrocarbons – including the unconventional resources are at an all-time high. The challenges before the industry are to balance the short-term cyclic economic reactions, with the long-term sustainable growth responses. With long lead-times of all E&P projects, and higher risk-uncertainty exposure in frontier areas like deep-water: the balancing act is a challenging proposition. E&P technologies also require nurturing and sustainable long lead development to become a game-changer. Three aspects are mainly affected: 1) human resources; 2) technologies and 3) project plans. Selected panelists will share their views on how to manage these and other factors impacted by the cyclic market scenario. The discussions will highlight different manifestations of this situation and suitable strategies relating to short-term vs. long-term responses. They shall deliberate how leaders can evolve from the situation and convert this adversity into opportunity.
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