Oil and gas need “game-changing” technologies

The UK oil and gas industry risks falling behind if it doesn’t adapt to “game-changing” technologies, according to a former Dyson chief. Sir Richard Needham, Non-Executive Chairman of Seamwell said […]

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By Priyanka Shrestha

The UK oil and gas industry risks falling behind if it doesn’t adapt to “game-changing” technologies, according to a former Dyson chief.

Sir Richard Needham, Non-Executive Chairman of Seamwell said alternative technologies are needed to revolutionise the energy market and for future security. The comment follows Chancellor George Osborne’s announcement yesterday about gas still being the number one energy source for the UK.

He said: “We need to bring innovative methods for sourcing energy to market to ensure the viability of the industry going forward and unconventional gas has a major role to play.

“Disruptive technology is all about changing markets, by doing things differently. In the UK, we need to innovate to compete on the global stage and the common theme is that companies which don’t go to the next stage of research and innovation suffer.”

Mr Needham is set to speak about disruptive technology at the ‘Unconvential Gas Conference’ in Aberdeen later this year.