Fuel Up! Lng

The oil and gas world has not seen such a steep and prolonged price downturn for many years. Explorers and producers are carrying out the usual playbook in tackling their cost and productivity issues. Layoffs, capital project deferral, supply chain pressure – it’s all happening. The last time the industry suffered through a retraction, the UK North Sea basin operators came up with some innovative solutions to achieve serious cost reductions. How much? Think of 30-40% improvements.   This tactic has (or at least, had) a name. CRINE (Cost Reduction Initiative in the New Era) first originated in the North Sea basin years ago (1994) when the collapsing price of oil (down to $12 a barrel) almost put the North Sea out of business.   Could CRINE work in Australia?   Duration: 8m 54s