PESGB December 2005
President’s Page- Jim Munns
It is now December and this is my last newsletter as President of the PESGB. I have enjoyed my year as President particularly the opportunity to reflect on current issues in the Presidents page, a real joy! As I sit down to write this final article, we have enjoyed a year of sustained high oil prices. Henry Allen writing in the PGL Update magazine commented that “the contrast between 2005 and 2003 is staggering”. I think he is right! He also says ” it does at least appear that we are now entering a new phase of activity”.
A brief analysis of the hunger for raw and manufactured materials from steel to oil to cement shown by the Chinese has a significant part to play in the current oil price. Just in the last few weeks I have experienced some of the problems first hand as my company attempts to contract a drilling rig and a seismic boat for 2006 and also to recruit geoscientists to undertake the project work we need to do. A key metric of activity on the UKCS is the number of exploration and appraisal wells chilled this year.
At the end of the 3rd quarter, the DTI show that 61 exploration and appraisal wells have been chiIled which suggests that 2005 will be the most active drilling year since 1998, which predates the major oil price collapse in 1999. As I write this article in early November, there are several significant exploration wells underway that could impact the nature of exploration in the next few years. Good luck to you all!
Being PESGB President this year has been quite a challenge as the increase in activity puts pressure on all our time. I run very grateful for the support of the PESGB office staff during the year ensuring that we continue to serve the needs of our members. They continue to maintain a very professional attitude to their jobs and deserve a vote of thanks from all members.
As we enter the last few weeks of the year we have the Christmas parties in Aberdeen and London to look forward to, both appear well on the way to be fully subscribed. The Prospect Fair on December 13th and 14th also promises to be a bumper event so I hope to see many of you there.
This year has passed very quickly for me. The one action we have taken that gives me most pleasure is agreeing to provide a grant to Steve Etches and hi s supporters as they progress ‘The
Museum of Jurassic Marine Life in Kimmeridge’ . You will hear more of this next year as it is an ongoing project. In this my last newsletter I must thank my fellow Council members for 2005. I think they have done a sterling job in keeping the society moving forward when the demands of their “day jobs” have increased. I am sure that Chris Flavell the incoming President, will have an equally enjoyable year next year.
2006, of course, is a PETEX year. Plans are well underway for the event with many booths in the exhibition sold already. The expectation is that we will strengthen the technical programme and if the industry stays as buoyant as now it should be a great event. More on PETEX next year.
So to sport! In case you have not noticed I support Harlequins Rugby club. We fell into the National League Division One during the year but hopefully will bounce right back. Only one team gets promoted each year and it looks as if we have serious competition from Bedford and the Cornish Pirates. I can but hope! Then we have the small matter of England wresting the 6 Nations title back from the Welsh!
In conclusion I have really enjoyed my year as PESGB President and I wish all members a very Happy Christmas and successful New Year.
Just keep chilling those exploration wells!