What is the “new normal” in Oil and Gas? Join us on March 22, as we take an interactive look at the current state of the industry, explore key topics below and look for ways to fund and execute projects that will drive business growth and profitability.
Is it time to rethink how we approach Operational IT projects given the new normal for the Oil & Gas industry?
Based on our research, optimism about recovery in 2017 has been tempered by the reality that a return to traditional levels of spending (including investment in IT) is no longer feasible. As a result, the ecosystem of service providers to the oil & gas industry are restructuring their business models to adapt to this new reality.
Is it possible to be visionary and self-fund the incremental road-map?
The need for a transformational vision does not go away. In fact, with the industry going through so many structural changes, it is more important than ever. Therefore, the approach to investment will have to change. Executives need a multi-phased, value-based road-map that can progressively fund itself.
Is there a “sweet spot” for project criteria (in terms of value, time, risk) that are most likely to be funded in 2017?
Operating in a volatile market environment requires being agile and not tying up cash in large transformational initiatives. Projects that hit the sweet spot of directly impacting margins and delivering ROI in less than 12 months while lowering risk are most likely to be fast-tracked for funding.