Speeches 2007

Who needs international oil companies?

04/09/2007

Speech given by Malcolm Brinded, Executive Director Exploration & Production of Royal Dutch Shell plc, 4 September 2007 at the Offshore Europe Oil and Gas Conference in Aberdeen.

Speech given by Malcolm Brinded, Executive Director Exploration & Production of Royal Dutch Shell plc, 4 September 2007 at the Offshore Europe Oil and Gas Conference in Aberdeen.

Do international oil companies still have a role in a changing industry confronting new challenges – with growing dependence on more difficult resources and the pressing need to reduce carbon dioxide emissions? Increasingly capable national companies continue to want partnership with international companies, who add value through advanced technology, integration and global scale. International companies are still needed to help maximise recovery in mature basins, although not necessarily in every field. They have a vital role in developing new supplies for global energy consumers, and in responding to climate change. This includes commercialising the technology to capture and store carbon dioxide from fossil fuels, which is a priority. Responsiveness to a changing world is a key characteristic of international majors, and will be even more important in the future.

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