No need to fear the NOC

INDUSTRY believes the role of the international company will continue to be vital despite national oil companies controlling 80% of the world’s oil reserves.
No need to fear the NOC No need to fear the NOC No need to fear the NOC No need to fear the NOC No need to fear the NOC

The prediction was made at a dinner in Singapore to inform an Economist Intelligence Unit report commissioned by GL Noble Denton into the 2012 outlook for the industry.

The dinner was attended by senior representatives from international oil companies, technical suppliers and industry associations, who were asked to answer questions.

Just 15% of respondents thought national oil companies would be glad to work with international companies, but they believed Asia would continue to rely on international players to drive innovation in the sector.

Respondents also touched upon the expansion of China in the Asian energy sector, with some telling GL Noble Denton they thought China's prominence in the sector would have a material effect on their countries once issues of quality had been overcome.

However, some claimed an increasing focus from China outside of the Asia region meant the rise of China would have a muted effect on the Asian energy scene.

Australia also isn't alone in concerns over skills shortages, as respondents said the rapid growth in energy demand left them concerned about the numbers needed to feed the demand.

Participants suggested that companies could broaden the talent pool by requiring fewer years of technical expertise from applicants.

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