Worldwide capital expenditures for oil and gas increased 25% in 2013, compared to 2012. EY study finds reserves are on the rise, while profits fall.
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Oil & Gas
Fueling your future in a global economy
With rising global energy demand and high activity on the Norwegian Continental Shelf, the oil and gas industry has a wide range of challenges and opportunities across the upstream, midstream, downstream and oilfield services sectors. We help oil and gas companies (pdf, 722.6kb), and oilfield service companies, to navigate through the changing regulatory environment, manage risks and optimize performance.
To help seize new opportunities, our 9,200 oil and gas professionals – whereof 200 people in Norway - provide guidance on key industry issues, such as:
- Competing and managing risk in oil and gas
While risk continues to dominate the energy landscape, competition is also becoming a dominate feature. We help oil and gas companies, as well as oilfield companies, understand their business risks and develop plans to manage or capitalize on them.
Our professionals understand business operations and use their knowledge to support clients in defining and developing their strategies and risk mitigation techniques.
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- Managing bribery and corruption risks in the oil and gas industry
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- Navigating M&A and investment decisions
Players in the capital-intensive oil and gas industry began partnering more vigorously – where the agreed operating model and the transparent regulatory and contractual regime on the Norwegian Continental Shjelf (NCS) stands out in a potitive way compared with other oil regions. The past two years have seen a significant ramp-up in oil companies’ planned investments in unconventional oil and gas plays, with a marked increase in joint ventures and acquisitions. In Norway we have experienced an increase in the forcasted capital expenditures every quarter the last few years and with expectations to a stable, high spending level the coming years.
Need to make better and more informed decisions about how to strategically manage capital and implement transactions in a changing world? Let us help.
- Cost reduction and process optimization
Oil and gas companies have seen significant increases in drilling, service, production and operating costs over the past decade. More complex operations generally mean more costly operations.
The most common initiatives for companies were to optimize processes and embed controls. Typically, companies in the oil and gas sector seeking to contain costs will focus heavily on third-party spend, headcount, shared services, IT efficiencies and outsourcing.
- New and emerging market growth
The rise of emerging markets gives the oil and gas industry a new business perspective. Norwegian oil & gas companies have increased their operations and presence abroad, while oilfield service companies are looking at new markets for offshore technology. Growing economy, evolving government regulations and increasing competition mean challenges and opportunities. Experience from the NCS – both for oil & gas companies and oilfield service companies – is highly regarded internationally and can offer immense opportunities the coming years – with the rightoperational and commercial model.
Whether you have a tight focus on the BRIC countries or want to see the full range of emerging market growth, we provide a global industry perspective by utilizing a global network of specialists.
- Arctic region
- Middle East
- Monitoring regulatory changes
The top driver of regulatory risks, as reported by oil and gas companies in our global multi-sector survey, is the sector-specific regulatory pressures. In many countries, regulatory and fiscal frameworks are uncertain.
Our accounting and tax compliance services are focused on helping large, multinational companies meet their financial reporting requirements in the many countries where they do business.
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Nordic industry leader Oil, Gas & Energy
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Read our in-depth study of the situation and development of the oilfield service industry in Norway based on actual performance of 814 companies.