SPE unfolds strategies to withstand low oil prices

SPE unfolds strategies to withstand low oil prices

The Society of Petroleum Engineers (SPE) has unveiled strategies to weather the current low oil prices in the sector.The Lagos section chairman for SPE, Ernest Mkpasi, disclosed this during its yearly general meeting, board inauguration and awards night in Lagos.

“We organised a maiden workshop on strategies to weather the current low oil prices and implemented efficiency measures like increasing the number of webinars to minimise cost and reduce time required for members,” he said.

During the event, new section board members were introduced and cash prices were awarded to outstanding students in a Catch Them Young (CTY) examination with the purpose of helping students understand the application of scientific principles in the oil and gas industry.

He said the SPEs vision is to share technical knowledge needed to meet the world’s energy needs.“Our key strategy involved continuing with existing technical and other programs including those for young professional, university students and the basic publics education in spite of the reduced funding to society occasioned by industry cost-cutting amid the prevailing global low oil prices,” he said…Read more

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