Bill Bayliss: Australia holds great potential for North Sea companies
IN STAVANGER this week, people working in the oil and gas industry will gather for the biannual Offshore Northern Seas (ONS) conference, which is exploring the theme of confronting energy paradoxes.
Given the world we live in, there are plenty of paradoxes to be found when it comes to this fast-changing sector. For example, ten years ago who would have predicted the current high levels of production in the North Sea?
One of the key factors to this success is the pace at which technology continues to evolve to meet new challenges. What’s more, the knowledge and expertise gained in one of the world’s most hostile environments is highly sought after by emerging energy markets, such as Australia.
It is significant that the Western Australian government will be exhibiting at ONS for the fifth time running. When it comes to energy resources, Australia is well-placed to become a world leader in this field. As well as the country’s conducive economic climate and shared cultural values, it is also the gateway to the burgeoning Asia Pacific market.
The potential is enormous. In Western Australia alone there are more than Aus $180 billion (£118bn) worth of projects either committed or under consideration of which Aus $124bn are oil and gas related. Additionally, Aus $60bn is earmarked for the mining sector and other marine-related activities, such as port expansions.
Now is the time for UK companies to take advantage of the opportunities in Australia and the Asia Pacific neighbourhood. Indeed, North-east businesses have not been slow to shift their gaze to the southern hemisphere. Australia is now second on the list of countries, just behind Brazil, most targeted by North-east oil and gas companies. We have a lot to offer our Australian cousins – from high standards in health and safety to our operational expertise in deep water to name but two areas. For companies prepared to work hard and engage with the local market, the potential is as huge as Australia itself.
• Bill Bayliss is group chief executive of Viking SeaTech. He will be speaking at the ONS 2012 Business Briefing today in Stavanger.
Search for a job
Search for a car
Search for a house
Weather for Edinburgh
Tuesday 21 May 2013
Temperature: 7 C to 17 C
Wind Speed: 13 mph
Wind direction: North west
Temperature: 3 C to 12 C
Wind Speed: 23 mph
Wind direction: West