Australia as an Oil & Gas Hub: OSI Team Reviews ‘The Buzz’ at the Recent AOG Conference - Offshore Technology | Oil and Gas News and Market Analysis
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Australia as an Oil & Gas Hub: OSI Team Reviews ‘The Buzz’ at the Recent AOG Conference

Members of the OSI team recently attended the Australasia Oil & Gas Exhibition and Conference (AOG, Perth, Australia, 11 to 13 March 2015) and we were pleasantly surprised by the very positive and even optimistic view of our fellow event attendees.

During conference sessions Western Australia was pegged as one of the world’s most significant sources of oil and gas supply, with its plentiful natural resources and strong focus on skills development designed to attract youth and drive the future of the industry.

Strong business fundamentals

Australian Minister for Commerce Michael Mischin referred to liquefied natural gas (LNG) exports as the most valuable commodity in West Australia, and we were intrigued by the general consensus that ‘business efficiencies’ would take precedence over severe strategy alterations. Chevron’s Global Technology Centre manager for Perth, Richard Hinkley, echoed that sentiment in his keynote address.

Adjustments in capital spending

Later in the conference proceedings, analysts discussed current crisis of capital that exists today in the O&G market, but noted that capital expenditures are anticipated to be adjusted by project phase, rather than by total investment. The expectation was that the majority of capex decisions would be pushed into the production phase, from their current position in the development phase of projects. That said, the analysts presented their expectation that Australia will take over as market leader in the LNG market within the next five years.

High-speed communications as a competitive advantage

Of particular note to the OSI team, there was a recurring theme in the discussion of high-speed communications requirements for both onshore and offshore uses. The installation of fibre-optic cable networks, which allow for high-speed and high-capacity communications (video conferencing and equipment monitoring, real-time controls, remote training and other forms of onshore-offshore collaboration are among the various applications), is becoming more and more mainstream within the Australia market, to the point that it is considered competitively disadvantageous not to offer such capability, particularly with respect to attracting and retaining field-based staff.

The advantages of fibre have long been addressed as operationally efficient, contributing to better field management and faster decision-making between onshore and offshore teams. But the ‘soft’ human component is now becoming one of the primary reasons to invest in fibre-based connections, and has rapidly become a strategic decision among technology teams, human resource teams, and the boardroom.

OSI – delivering solutions for offshore communications

OSI’s team combines unequalled subsea cable development experience throughout the planning, design, procurement and installation phases of fibre-optic network deployment. OSI minimises network risk and maximises return on investment to ensure project success.

For more information, please contact Ocean Specialists.

More About This Company