Off to Offshore!

by BVAA Director, Rob Bartlett

Welcome to this latest edition of Valve User magazine, which has been produced especially for Offshore Europe 2011.

‘OE’ - the bi-annual Oil & Gas Conference & Exhibition in Aberdeen – has been on the lips of many in the industry for some time, and is always eagerly awaited! Although British valve and actuator suppliers are highly proficient in all applications and enduser industries, there’s no doubt that the Oil & Gas sector, particularly offshore, has become the favoured customer-of-choice for many suppliers.

‘Offshore’ has frequently been regarded as a welcome refuge when times are leaner elsewhere. Being a mature sector, the oil and gas reserves in the less taxing, shallow, easily accessible locations around the world have largely been depleted, and the future for the industry will inevitably be in the very deep, aggressive environments, with higher pressures and temperatures – all areas where British valve and actuator companies already excel.

On the subject of ‘less taxing’, for the second time in just a few years, I find myself bewildered by the UK Government’s policy of plundering the oil and gas industry for tax revenue one minute, then applying ‘tax relief’ the next! This ‘relief’ is invariably after the damage has been done by the preceding tax.

On my first OE visit, Gordon Brown announced a ‘windfall’ pillage of the sector, single-handedly stultifying a North Sea recovery at the time.

Oil prices have been up and down like a yo-yo recently and market conditions dictate when investment in new exploration/finds is viable. Add to that mix the unpredictability of variable tax and it becomes apparent why – despite the obvious, increasing demands for oil and gas – investors hesitate. We really must ensure there’s a much more predictable environment for our local offshore industry to develop and grow.

BVAA will of course be exhibiting at OE – we look forward to welcoming Valve User readers to our stand, 2D05, and very much hope you enjoy this special edition!

Published: 31st August 2011