Oil, Gas & Petrochemical

Both Future Executive Search and Future Corporate Solutions have industry experience in the following areas:

• Upstream (Exploration & Production)
• Downstream (Refining & Marketing)
• Mid-stream (Gathering, Transportation, Processing & Storage)
• Oil Field Services

By the 1990s there were a staggering number of oil wells, close to a million, located in over a hundred countries around the globe, with an output of more than 20 billion barrels of oil per annum. The Middle East is presumed to hold approximately 41% of the entire global oil reserve, with Saudi Arabia possessing the most original oil reserve of any individual nation. North America follows second within this category, however, the quantities in question are considerably less than those contained within Saudi Arabia. Eastern Europe also enjoys a wealth of oil due to the plenitude of Russian deposits. The majority of Western Europe's oil lies deep within the North Sea.

Experts believe that approximately three quarters of our planets recoverable oil has already been located and accessed. The remaining oil, most probably located within smaller reserves and within more hostile and more impenetrable environments, means that the cost of finding, extracting and delivering this depleting resource is set to rise. Due to the U.K possessing leading world experts in energy and the unique skill sets that we as a nation posses, we are ideally placed to become extremely resourceful and valued internationally.

Key drivers:

• Increasing demand for oil and gas.
• Increasing demand for refined and petrochemical products.
• Demand is growing at around 2% per year, suggesting that we will need an additional 50 million barrels per day by 2010.
• Environmental concerns and impact requiring specialist technological developments.
• New discoveries of oil and gas in increasingly complex geological structures
• New regulations which have driven the development and expansion of the oil refining industry.
• Worldwide demand for energy is expected to rise by just over 50% by 2030, reaching over 17 billion tonnes of oil equivalent per year.
• UK energy companies currently generate revenues of more than £90 billion from domestic and international business and employ 600,000 staff.
• This is expected to rise to £200 billion and one million employees by 2030.

Globally, more than US$22 trillion a year will be spent supplying energy by 2030. New technology driven growth sectors, including clean coal power generation, non-hydrocarbon transportation fuel and renewable energy could account for more than US$2 trillion of the total.

Gas:

Gas provides the UK alone with roughly 40% of its energy, it is much cleaner than coal and the UK is the world's fourth largest producer. We have more than 200 off-shore fields in production and reserves which are the equivalent to c18 billion barrels of oil. However, rates of production are slowing and some estimate that this reserve will be gone by 2011 forcing the UK to import all of its supplies as security of supply is a major issue across most of the energy sectors as a nation we must look at alternative energy options as well as Oil, Gas and Petrochemical.

The Middle East has the world's largest proven reserves, at 40.5% of world supply. Russia is the second largest consumer of gas as well as the second biggest exporter, supplying many European countries. The income from gas underpins a resurgent Russian economy and political confidence.

Petrochemical

Petrochemicals are chemicals derived from petroleum or natural gas products such as petrol, cosmetics, fertilisers, synthetic fabrics, asphalt, detergents, and plastics are made from petrochemicals.

The packaging industry, the leading user of plastics, accounts for about one-third of the market. The building industry ranks second, which uses plastic to make insulation, molding, pipes, roofing, siding, and frames for doors and windows. Other industries, including automobile and truck manufacturing also rely heavily on plastics.