The results of DNV GL’s fifth annual industry benchmark study on the outlook for the oil and gas industry will be launched on Monday 19 January, 2015.
The report provides a timely assessment of industry sentiment, confidence and priorities for the year ahead. It is based on a global survey to gauge the views of more than 530 senior industry professionals and executives, alongside in-depth interviews with a range of experts, business leaders and industry associations.
Tight schedules, high activity and complex projects have driven up costs over the last few years and will be amongst the biggest challenges facing the global oil and gas industry in 2015, according to the study. As the oil price slides to a five-year low, this will have an even greater bearing on global activity over the next 12 months.
Key findings include:
- An analysis of confidence in the sector in the face of the falling price of oil.
- Asia-Pacific overtakes North America as the region that is most optimistic about the year ahead.
- The rising percentage of firms planning to actively cut staff levels.
- The growing appetite for expansion into new frontiers despite tighter budgets and tighter conditions.
The report also provides in-depth analysis of a series of themes for 2015, including dealing with the fallout of a cost-constrained environment; new risks and opportunities.
Adapted from press release by Joe Green