Volatility and unpredictability in the oil & gas sector have not abated from the levels we’ve observed over the last several decades. Geopolitical and economic uncertainties, regulatory restrictions, changing global markets and supply risks are compelling oil & gas companies to up their game and adopt a dynamic approach to operations and processes.

Notwithstanding the surge in oil prices that has benefited the oil & gas companies immensely by bringing more money to the table, there are several key challenges that need to be negotiated, including:

• Newer, more efficient technologies resulting in less fuel consumption than before
• Rise of electric vehicles and declining auto demand
• Significant focus on regulatory compliance and adherence to environmental and personnel safety
• Increasing cost of exploration and upstream operations
• Global operations resulting in inconsistent processes and practices