Norwegian oilfield services analysis 2020

Norwegian oilfield services analysis 2020

EY and the WEF’s Davos Agenda

Explore the issues and insights we’ll be advancing during the week of the World Economic Forum to help build a more cohesive, sustainable working world in 2021.

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Building a sustainable working world

When business works sustainably, the world works better. Learn how EY is addressing ESG issues and how we can help you create long-term value from sustainable transformation.

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Resilient enterprise: Leading through uncertainty and complexity: Business Disruption
Employee health and wellbeing
Talent and workforce
Customer and brand
Financial and investor
Risk
Government and public
policy
Technology and infosec
Insurance and legal disputes
Supply chain and global
trade

COVID-19 Enterprise Resilience Framework

Resilient enterprise

Our framework identifies nine areas businesses can address to build a structured and comprehensive approach to crisis management and business resilience.

Navigate the nine dimensions of our framework, or find out more about our Enterprise Resilience Tool.

Read More

Employee health and wellbeing

What matters most:

  • Promoting employee safety and wellbeing
  • Public health information
  • Support for impacted employees
Explore

Talent and workforce

What matters most:

  • Employee relations
  • Talent initiatives
  • Business traveller
Explore

Customer and brand

What matters most:

  • Safety-based customer experience
  • Direct to consumer and e-retail
  • Packaging and delivery innovation
Explore

Financial and investor

What matters most:

  • Liquidity, cash flow, credit and capital
  • Regulatory/disclosures
  • Investor trust
  • Tax strategies and tax accounting
Explore

Risk

What matters most:

  • Enterprise risk planning
  • Risk identification
  • Scenario planning
  • Continuity and recovery
  • Response and monitoring
Explore

Government and public policy

What matters most:

  • Geopolitical risks
  • Country risks
  • Regulatory changes
  • Leadership and public policy engagement
  • Sustainability
Explore

Technology and infosec

What matters most:

  • Infrastructure framework
  • Cyber resilience
  • Digital customer channels
Explore

Insurance and legal disputes

What matters most:

  • Business interruption
  • Supply chain claims
  • Legal and contract disputes
  • Event cancellation
Explore

Supply chain and global trade

What matters most:

  • Supply chain resilience
  • Third-party service providers
  • Sustainability
Explore

Employee health and wellbeing

What matters most:

  • Promoting employee safety and wellbeing
  • Public health information
  • Support for impacted employees
Explore

Talent and workforce

What matters most:

  • Employee relations
  • Talent initiatives
  • Business traveller
Explore

Customer and brand

What matters most:

  • Safety-based customer experience
  • Direct to consumer and e-retail
  • Packaging and delivery innovation
Explore

Financial and investor

What matters most:

  • Liquidity, cash flow, credit and capital
  • Regulatory/disclosures
  • Investor trust
  • Tax strategies and tax accounting
Explore

Risk

What matters most:

  • Enterprise risk planning
  • Risk identification
  • Scenario planning
  • Continuity and recovery
  • Response and monitoring
Explore

Government and public policy

What matters most:

  • Geopolitical risks
  • Country risks
  • Regulatory changes
  • Leadership and public policy engagement
  • Sustainability
Explore

Technology and infosec

What matters most:

  • Infrastructure framework
  • Cyber resilience
  • Digital customer channels
Explore

Insurance and legal disputes

What matters most:

  • Business interruption
  • Supply chain claims
  • Legal and contract disputes
  • Event cancellation
Explore

Supply chain and global trade

What matters most:

  • Supply chain resilience
  • Third-party service providers
  • Sustainability
Explore

Build enterprise resilience

Get the insights to help you adapt to disruptive forces, plan for business continuity and become a resilient enterprise - for now, next and beyond.

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Reframe your future

Now is the time for change. Discover how our future-back approach to transformation can help you reveal and realize unseen opportunities.

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The better the question. The better the answer. The better the world works.

Case study: How real-time satellite data is keeping supply chains moving

With COVID-19 disrupting global supply chains, EY moved fast to help an advanced manufacturing company maintain the flow of essential goods.

The better the question. The better the answer. The better the world works.

How do you respond when certainty is in short supply?

The pandemic has had far-reaching effects on supply chains everywhere.

COVID-19 is causing significant impact to global trade and product flow. Moving physical goods is especially challenging. With people in lockdown, and many businesses not operating as normal, the logistics of transportation are becoming increasingly complex – causing real problems for customers.

EY was already working with one of the world’s largest advanced manufacturing companies to improve their supply chain when the pandemic hit. We immediately increased our focus and deployed advanced analytics, including process mining and satellite imaging, to anticipate customer demand while maintaining the flow of goods through key ports.

The better the question. The better the answer. The better the world works.

Using advanced analytics to avoid supply disruptions

We gave the client the tools they needed to make better-informed decisions.

First, we asked three vital questions:

  • What if we need to explore alternate routes to market? 
  • Do current production flows make sense when some customers are shutting down while others are ramping up?
  • How can data and analytics help us make real-time decisions that will keep supply chains functioning effectively?

Using satellite data to make better choices

Knowing what is happening on the ground is key. Satellite data tells us what is going on in ports around the world. This means we know where the biggest challenges are. Analytics are helping us make intelligent decisions and act fast to manage congestion and delays. This knowledge means we can anticipate issues and re-route material flows to minimize disruption.

This insight enables our client to make better decisions and keep vital goods flowing. But it also helps our client’s people. The stress and anxiety involved in making judgement calls in times of crisis is huge. Giving people access to real-time data helps them make more informed decisions and takes some of that pressure away.

Using historical production patterns to shape operational plans

As well as maintaining the supply of vital goods, we also wanted to enable our client to keep track of demand and run their operations effectively and efficiently. By analyzing current and historical sales orders as well as production patterns over the last 12 months, we’re giving our client the tools to determine whether to pause, reduce, or ramp up their production runs.

Freight containers dock
The better the question. The better the answer. The better the world works.

Building a data-driven approach to supply resilience

Armed with new knowledge, our client is getting essential goods to the people who need them most.

It’s efforts like this that are helping to ensure that the world’s supply chains stay resilient amid the COVID-19 pandemic.

Our work has already delivered some immediate benefits:

  • We moved rapidly to keep the supply chain working and materials flowing.
  • We also identified an escalating backlog issue caused by logistics delays and developed mitigation strategies.
  • We empowered our client’s workforce to make informed decisions that would ensure they help maintain their reputation as a trusted supplier.

And the analytics we’re deploying, alongside the data-driven approach we’ve designed, is giving our advanced manufacturing client a unique ability to manage their risks, ensure minimum disruption to supply chains, and to continue to run their business efficiently and effectively.

Ultimately all of our efforts are designed to do one thing: keep the world’s supply chains moving so essential goods get to the people who need them most.

Lead through the COVID-19 crisis

We have a clear view of the critical questions and new answers required for effective business continuity and resilience.

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Contact us for immediate support

Gain access to our help with crisis management, business continuity and enterprise resilience.

 

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Featured press releases

Recent analysis of the oil service industry: Expects a decline of 10% in 2020 and a flat positive development in 2021

EY's report on the oil service industry turns 15 years old. It is celebrated with precise predictions of the 2019 figures, a new segment and better forecasts than one might expect in and after the pandemic year 2020.

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EY announces ambition to be carbon negative in 2021

LONDON, 25 JANUARY 2021. EY today announces an ambition to be carbon negative in 2021 by setting targets to significantly reduce its absolute emissions and removing and offsetting more carbon than it emits.

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Strong Q4 IPO activity demonstrates resilience, defies expectations

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13 Jan 2021

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