JENNY JUNNIER
The last few years have been overwhelmingly challenging for Scotland’s energy businesses. We’ve witnessed a sustained period of price uncertainty and job losses resulting in Europe’s ‘oil capital’ Aberdeen facing economic challenges that would have been unthinkable as little as four years ago.
We have a long, and potentially bumpy road ahead, before we can breathe a sigh of relief – a point made clear by Colette Cohen – the Chief Executive of Aberdeen’s Oil and Gas Technology Centre. Speaking to a committee of MPs looking at the future of our energy sector, Colette warned that Brexit is now the new uncertainty hanging over our industry and it could create further problems for an industry that at times has felt embattled by fear of the future.
But, there is light at the end of the tunnel. We’re seeing a slow, but steady increase in the price of oil – perhaps now where it should have always been – solid, not at boom or bust levels. Businesses have slimmed down their expenditure and taken a closer look at the way they do business – shifting from an aggressively competitive landscape to a more collaborative sector where working together is finally in everyone’s interests.
There is cautious optimism in the air. A sense that things are definitely improving, but with the acknowledgement that it’s not all smooth sailing ahead.
Instability and uncertainty can often encourage business leaders to retreat and revert to the familiar. While it is understandable, a ‘trench mentality’ can often embolden a crisis, reinforcing the chronic issues that led to the problem in the first place. For that reason, I believe now, more than ever, is the right time to address every one of the challenges facing Scotland’s energy sector.
We’re making progress, and leaders – from Colette Cohen to Sir Ian Wood - are forcing us all to step up and admit that we need to work together to ensure that the country’s most important revenue generator continues to deliver for future generations. Increased gender diversity must be a core factor in our future strategy. As a female working with clients in a male-dominated industry, I’ve faced occasional challenges, but that’s not why I believe so passionately in change. Innovation and greater collaboration will be crucial to our combined future survival, and for this we need some new thinking. Different voices with different outlooks can help to shine a light on the areas that have been overlooked in the past.
Whilst different perspectives can certainly come from a variety of sources, we should not overlook the obvious. The female population make up 50% of end-user spending and yet women currently make up less than 1 in 10 of the global oil and gas workforce, while in the UKCS women represent only 3.6% of the total offshore workforce. That’s despite overwhelming evidence that better gender balance makes better business sense. A 2015 McKInsey Global Institute report estimated that global output could increase by more than a quarter in a scenario in which women achieved complete gender parity with men.
Everyone working in Scotland’s oil and gas and wider energy industries is standing ready and prepared for the challenges ahead – regardless of gender. Let’s work together more collaboratively, more equally and more innovatively than ever before and ensure our most prized asset remains a key part of Scotland’s future economic success.
Jenny Junnier is an audit senior manager at Grant Thornton UK and a founding member of the Aberdeen X-Industry Support Network (AXIS) – a non-profit members’ network, focused on increasing gender balance in the Aberdeen energy industry.
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