New centers of gravity in the oil and gas space

Today, many parts of the oil and gas industry, both geographically and sector-wise, are in flux. We work in a complex arena where oil price is lower than expected, and there is a gap between the price of oil and the cost of our activities. Despite high investments, many projects are being postponed or cancelled, but this is an opportunity to inject more efficiency into our system and restructure our way of working.

Costs make a big difference, and we will have to begin looking at project economics in a more rigorous way. Oil and gas companies should focus on long-term development projects and invest through cycles, though they may be compressed. Invest today to prevent a collapse in the future.

The oil and gas industry can use technology to shift to another center of gravity. Looking at ways we can improve our business, managing costs, and collaboration between IOCs and producing countries can deliver important results.