Getting Back to the Negotiating Table – Working Together
With the offshore oil business now five years into the largest downturn in living memory, we have seen all manner of corporate restructuring: mergers, acquisitions, disposals, bankruptcies, and new entrants. As a consequence, since many oil company functions are outsourced, the supply chain has taken the brunt of the downsizing pain.
The seminar has the theme of our industry – Getting back to the negotiating table – in the sense that the albeit fragile recovery in oil price, has generated some early signs of recovery in market demand. That said, whilst the supply chain may have cut costs by 30% or more in a buyers’ market, the share of risks and liabilities requires new ways of oil companies and contractors working together in sensible and pragmatic ways.
Three highly topical themes are presented and discussed:
- Ethics and compliance – a shared challenge for all facets of industry;
- Achieving a FAIR and sustainable risk allocation; and
- Working together, realigning the risk foundations for long term success.
The Royal Academy of Engineering, located at Prince Philip House,
3 Carlton House Terrace, London SW1Y 5DG, UK