Q: What are your prediction for the industry for the coming 12 months?
The outlook for 2018 appears decidedly brighter than in recent years, reflecting both a more optimistic view on oil price, as well as increased demand for LNG in particular. As a result, we anticipate the creation of industry opportunities both locally and overseas.
The second wave of digitalization is firmly upon us; therefore, the coming 12 months is set to touch every sector with no exception, and our industry will need to keep pace.
Change will continue. We must ensure that we adopt a more flexible nature in our business models, and embrace the wealth of opportunities that innovative technologies present. The key lies in understanding the needs of our customers and partners, and for us, is underpinned by direct communication and an open mind.
Q: What are the key factors/challenges/opportunities that business’ currently need to consider to survive and thrive in the current market?
As previously mentioned, technological change, data-driven solutions and digitalisation is transforming virtually every industry across every sector. We believe that this presents significant opportunities and benefits for business’ that are agile and adaptable.
Leveraging core competencies, effectively integrating emerging technologies, and endeavoring to scale faster than competitors are elements we’ve identified as being critical to success amidst a rapidly changing landscape in 2018.
Further, we believe a business’ ability to not merely survive, but to thrive in the current market, will be determined by its ability to drive effective engagement, collaboration, and innovation with the entire supply chain including operators, contractors, partners, and suppliers, amongst others.
Internally, focus should be primarily directed toward improving efficiencies and being prepared for what we strongly believe will be an increase in demand. We’re of the opinion that an investment in readiness can yield significant rewards, and business’ must ensure now more than ever, that they remain ambitious, resilient, adaptable, and flexible in terms of their strategies and business model.
We see the value of diversity in our business, and believe the incorporation of differing genders, ages, ethnicities, and experiences is vital to the creation of a workplace that is able to identify and harness innovation.
Q: What do you, as a leader in the industry, gain from attending APPEA 2018?
Besides providing the opportunity to connect with customers, suppliers, partners, peers, and friends, the APPEA Conference offers a positive environment within which to forge new relationships, share ideas, experiences, collaborate, and learn from one another.
Peter Bennett will speak in the Plenary Session: A resilient supply chain – what does success look like in the new energy market? at 2.30pm on Thursday 17 May.
Mr Bennet will be joined in the session by:
Matthew Kay, Chief Executive Officer, Beach
Andrew Kavanagh, Sage Energy International Corporation (Canada)
Doug Bester, Managing Director, Sentient Computing
Nathan Roost, Partner EY will facilitate this session.