SPE's New Business Structure Reflects Global Growth

SPE has undergone dramatic changes in the past decade. The Society is no longer just a U.S.-based organization for petroleum engineers, but has become a truly global organization for all professionals working in the oil and gas industry. SPE is rapidly expanding into new regions and offering new services that reflect this international growth. We now have more than 64,000 members living in more than 100 countries, with more than half of the membership now outside the U.S. This growth trend beyond North America is likely to continue. A new office recently opened in Dubai to serve members in the Middle East and North African areas. Later this year, SPE will inaugurate the International Petroleum Technology Conference in Doha, Qatar, underscoring the growing importance of the Eastern Hemisphere region. Four new sections recently were established, in Spain, South Africa, western Siberia, and Volga. SPE now has 152 sections in 58 countries and 109 student chapters in 39 countries. One of the Society’s strengths and a reason for its success has been its ability to adapt to the changing needs of its membership. Recently, SPE’s Board of Directors updated the Society’s governing structure to accommodate the expansion of its membership and to ensure effective business operations worldwide. A Dutch foundation, called a Stichting, was incorporated to serve as the common link to SPE’s various locations. This new structure will consist of the parent organization based in The Netherlands with seven entities operating under it. This new arrangement will allow greater flexibility and efficiency in operating international activities. The Board of Directors reviewed the plan several times, and it represents almost 2 years of study to ensure that it maximizes Society benefits to members. The previous structure had inherent limitations in its ability to reallocate resources to other entities. Finding a structure that allowed for favorable tax positions of the existing entities was essential. The Board examined several possible arrangements, including parent organizations based in Canada, Belgium, and Switzerland, before choosing the Netherlands structure. A Stichting has many similarities to a U.S. foundation, such as tax-exempt status. Another benefit is the Stichting’s ability to hold interest in commercial entities, the profits of which can be transferred to the Stichting tax free. The revised structure also will make it easier to add new operating units when needed. SPE has been considering incorporating a not-for-profit entity in Russia to support sections there, and this new business structure makes that easier to do. Moving to a horizontal organization chart from a vertical one will enable the Society’s various entities in Malaysia, the United Arab Emirates, the United Kingdom, and the United States to share resources for the benefit of the whole organization. This reorganization positions SPE for significant world-wide growth in membership, sections, and meetings. The Society’s most recent Long Range Plan advocates that the Society move toward a more decentralized governance structure. This is an important step in that direction. SPE’s leadership currently is working to update the Long Range Plan. That document, to be developed under 2006 SPE President Eve Sprunt, will con-sider 14 areas, including the Society’s governance and structure. All of this is designed to ensure that your Society continues to be successful in the 21st century.

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