Efficiency – The New Competitive Advantage
Tough business conditions have challenged the UK Continental Shelf (UKCS) these past two years. However, a relentless focus on efficiency has halved average unit operating costs to $15.30 per barrel, improving competitiveness while safely increasing oil and gas production. Along with individual company efforts, Oil & Gas UK’s Efficiency Task Force (ETF) is the catalyst driving greater co-operation across the sector to help the UKCS become fit to compete successfully in the global arena. The ETF champions good practice to help deliver benefits basin-wide and show how companies can develop competitive advantage. This session highlighted the gains to be made by adopting a ‘standardisation’ mindset; why it is good to ‘break the mould’ and change business behaviours; and the new practices being employed to unlock value in procurement. Speakers also outlined how delegates can get involved with the ETF’s activities and put forward their own ideas for efficiency improvement.