SPE and AAPG Consider Merging To Create Professional Organization Built for a New Energy Future
The Society of Petroleum Engineers (SPE) and the American Association of Petroleum Geologists (AAPG) announced today that the two organizations are exploring the possibility of becoming one.
The SPE and AAPG said in a release that their respective leadership bodies gave unanimous consent to form a steering committee that will review the benefits of merging to form a new professional organization. The decision comes as a response to both the global energy transition and the market challenges driven by the COVID-19 pandemic.
“Many of our stakeholders have made it clear that they do not have the resources to support as many professional organizations going forward. We believe that, as changes in the industry accelerate, the new organization would be the professional community of choice for a generation of professionals and students who are committed to driving long-term change across the energy sector,” Tom Blasingame, 2021 SPE President, said in the announcement.
Another key driver highlighted by the SPE and AAPG is the rise of interdisciplinary teams that are combining geosciences and engineering across the exploration and production spectrum. Amid a less-siloed business, they argue, a unified professional organization would offer better opportunities for community and knowledge sharing.
“Our two organizations have worked together side by side for many years on numerous initiatives and global events, notably the Offshore Technology Conference, International Petroleum Technology Conference, Unconventional Resources Technology Conference, and the Petroleum Resources Management System,” Rick Fritz, the AAPG President, said in a joint statement.
“Joining forces would bring the best of both organizations together and provide additional value to engineers, geoscientists, and the broader energy sector,” he continued.
The SPE and AAPG emphasized that they both view oil and gas as an essential feedstock for the global economy and that a combined organization would benefit the future by further facilitating reliable and affordable energy supplies. They also believe a merged society will improve member uptake of digital technology and will help build skill sets in emerging sectors that include carbon capture, storage, and utilization; hydrogen production; and geothermal energy.
The SPE and AAPG expect a merger to result in operational synergies that will increase society efficiency and the return on investment for its members. The combined organization also may be given a new name and likely will have a new mission that reflects both organizations' roots and aspects of the energy transition.
The steering committee is expected to conduct its review, which includes membership input, and present its recommendations within the next 6 to 8 months.