ROD DEAN'S 2006 REVIEW

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E & C Hydrocarbon Review - The Global view from Europe. Looking back on 2006 & ahead to 2007.

Have a great year - remember its a very good to be a young person in our industry at this time ( we must do all we can to grow our leaders of tomorrow ) and as I was going to say 'it's also a good time to be 'grey' in the industry - good if you want to work a little bit longer - as we say enthusiasm is everything ( if you don't have it, it's time to throw in the towel), and our generation (like never before) must be prepared to pass on all we know to the next generation. Demographically we are as high in numbers as we ever will be (relative to the size of our industry) - so it’s now or never.

So hang on in there and hopefully you will receive some of the answers next year - I hope to still be here or at least somewhere to send them to you!

So there it is - 2006 was a better year than 2005 for many of us but what of 2007? As long as the contractors can execute what they sell with predictability of schedule and cost and within the best HSE parameters it a good few years. There should be enough work for everybody from the super giants to the bottom fishers and even some for the plankton. Save for the 60’s and 70’s when the industry was really taking off globally never have the opportunities been greater. There are however a few dark clouds out there - there has been a strand passing through many of the above paragraphs which says Cost, Cost and more Cost! As we know backlogs which seem healthy at the start of the year can look very thin if not replenished through the year. It could happen!

However keep your fingers crossed and enjoy the ride.

Best Wishes