Our director Clive Wilson underwent something of an epiphany eight months ago: Around Christmas 2014 he read the United Nations' (UN) paper on 'Universal sustainable development goals' and pledged to spend the next 15 years of his life doing what he can to see them realised.
Oil and gas production in the North Sea is dropping off and it doesn't look like it's going to stop doing so any time soon either.
In the first Conservative Budget in the UK, George Osborne delivered a blow to the industry by failing to include any incentives to address the slump, despite calls to take action.
At the end of July Shell and Centrica then announced they would be making job cuts totalling over 12,000 in the Aberdeen area, with Centrica boss Iain Conn declaring that the company would be scaling back North Sea exploration and production.
Imagine the oil and gas industry is a railway network with several tracks and problems are the trains. At any one time, multiple problems can occur as long as they remain on different tracks - aka they don't intersect. However, currently the oil and gas industry has two trains on the same track: One is the ‘Great Crew Change’ or ‘the ‘Knowledge Cliff’ as it is sometimes known - and the other is falling oil prices. A collision is inevitable, the challenge is how to deal with it.
As oil prices plunge to concerning lows, efficiency has taken on greater significance for the oil and gas industry.
Organisations need to act fast to put an end to high production costs and tighten the market once again - something that will prove a challenge thanks to the large stockpile of oil currently being held by OPEC countries that is dragging prices down.