Message from North Sea Regional Director

April 2019

Karl Ludvig Heskestad
SPE Regional Director North Sea

At time of writing Brent Oil price has just passed 70 USD again, after a volatile period that started just before Christmas last year. The market is now expecting the price of oil to continue to increase in this quarter. Beyond this period the jury’s out on how the new infrastructure improvements in Permian will affect the price curve as we enter the fall. Predicting the price of oil is not the purpose of my message, but simply to emphasis that oil is an extremely valuable commodity to the world where demand is continuously rising. As engineers and geoscientists in this business need to keep supplying the industry and the world with new discoveries, new projects, continuous improvements and new ideas. To stay current and up to date I encourage you to follow your local SPE section’s program and additionally to explore the events organized by SPE International, please see link for event details. This month I have had the possibility to meet many of the members in my North Sea region, and my latest interaction was an SPE International workshop in Northern Norway where the topic of the workshop was Innovative Arctic Technologies. This was an excellent organized event packed with high quality presentations and subsequent discussions.

On another note I am very excited to see the newly elected Directors to the SPE International Board which was just recently announced on JPT. I am sure you recognize many of the names on the list and that you look forward to their contribution to our society. The new Directors will officially start their tenure on the SPE Int. Board immediately after Board Meeting in September which takes place just before ATCE.