There is only one certainty in the oil and gas (O&G) industry, and that is change. The sector faces many challenges in the wake of strong geopolitical forces, fluctuating crude prices, increased pressure from the public sector for environmental sustainability and stricter legislation. Nevertheless, global energy demand continues to rise; with the International Energy Agency predicting a demand increase of over 25 per cent by the year 2040. In order to meet growing demand, the need to improve production efficiency is more pronounced at all levels of O&G operations – upstream, midstream and downstream.
While the industry faces a multitude of challenges that stem from this demand, there is also significant potential for growth. This white paper provides an analysis of current Australian trends for the O&G sector and a discussion of the issues that will likely surface from these developments. Importantly, it provides an insight into the strategies and solutions that businesses can adopt in order to future-proof their operations and achieve sustained profitability.
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