PESGB January & February 2019

Wed 30 January 2019

Category: Magazines

Highlights include:

  • REVIEW: PETEX 2018
  • NEWS FEATURE: Egypt – A potential future gas hub for the East Mediterranean
  • NEWS FEATURE: OPEC+ oil production cuts help balance the market in 2019

Plus much more inside

Firstly, a few thanks!

The structure of the PESGB Council enables the strategic objectives of the Society to continue and develop without interruption. Having sat for a year as President Elect, I have learned a tremendous amount and have greater insight and understanding of the Society’s activities and purpose. This year, I aspire to continue and build upon the creative and forward thinking course steered so effectively by my predecessor Neil Frewin. I would like to take this opportunity to publicly acknowledge the significant contributions and developments made by the PESGB Council led by Neil and the PESGB office led by Maria Iredale. The Council meets once a month and the agenda and associated discussion and debate that takes place during these meetings is consistently constructive, progressive and proactive. As a result, the PESGB has continued to deliver a programme of events that are relevant and beneficial to all of its membership.

2018 closed with the delivery of PETEX in late November, followed in December by PROSPEX, the President’s Evening and the Granite City Reception. All four events were a great success. Following the economic challenges the Industry was experiencing when PETEX was last convened in 2016 (with an average oil price of US$44/bbl), the PETEX organising committee excelled in delivering an impressive technical programme and exhibition fair which attracted over 2,800 delegates. I would like to thank Richard Fox for chairing PETEX once again, and his organising committee who made such a valuable contribution to its success.

No sooner had PETEX closed, attention then switched to PROSPEX which took place once again at the Business Design Centre in Islington. I must admit to experiencing some anxiety as to whether attendance would be adversely impacted coming so soon after PETEX. However, my concerns were unfounded as some 800 delegates attended PROSPEX 2018, with seventy two exhibitor booths adjacent to the main lecture auditorium. In the past, PROSPEX has been dominated by investment opportunities from Northwest Europe and, in particular, the UK. Encouragingly, the PESGB has started to attract interest from other overseas countries with international attendance accounting for 20% of the delegates from twenty five countries. Clearly, the reputation that PROSPEX has as a networking event that provides significant value for money is growing. We hope to build upon this for future events.

The successful President’s Evening took place in the Victory Services Club near Marble Arch and attracted attendance from nearly 200 members. The venue and food were enjoyed by all, as was the raffle which proved very popular. It should be noted that the President’s Evening and the Granite City Reception (which took place nine days earlier in Aberdeen and equally well received) both benefited from sponsorship that subsidised the cost of tickets for PESGB members who wished to attend. The President’s Evening and the Granite City Reception provide an opportunity for members to socialise and catch-up during the Festive Season. The generosity of the following sponsors is much appreciated: Gaia, Providence Resources plc, RFD tNavigator, RPS, Austin Bridgeporth, CGG, Echo Energy plc, HRH Geology, IKON, ION, RISC Advisory, RSI, Subterrane, DataCo, Envoi, Getech, Making Waves, One and Zero Data Services, and Trace Editors.
As we start 2019, the PESGB will mark its return to a central London location with new offices located in Victoria. These premises will continue to provide PESGB members with the same level of service for their membership, including the delivery of competitively priced in-house training courses. Details of these events will be publicised in due course. Should members wish to visit the new offices, you are more than welcome. Indeed, there is space that can be booked on a commercial basis should you wish to convene a meeting in central London.

Finally, I would be grateful if existing, long standing members could encourage those who are relatively new to our industry to join the PESGB. As most of us know, professional membership provides excellent opportunities for training, knowledge sharing and networking, all of which have become ever more important in the current climate.

With warm wishes to you all for a successful 2019.

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