Investment Intentions in the Oil & Gas Industry show significant improvements over the next 12 months

By Guest Blogger: Geoff Roberts, Oracle Primavera Industry Marketing Manager, Oil & Gas/Utilities

According to a recent survey conducted by the Economist Intelligence Unit (EIU) and commissioned by GL Noble Denton, “Big Spenders: the outlook for the oil and gas industry in 2012”  there has been significant improvement in a number of key areas around investment intentions over the next 12 months:

  • Industry optimism is high and rising up 6% on last year
  • Investment intentions are significantly stronger than last year, 63% of Executives plan to invest more or substantially more over the next 12 months.
  • Rising operating costs are seen as the key barrier to growth for the second year running, both employees and contractors
  • Skills are a growing concern with 34% of respondents identifying it as a top-three issue.

 With this in mind it is important that organizations look to manage their project portfolios throughout the Plan, Build and Operate phases, and to support this a solid PPM solution will help them to:

  • Ensure the correct investments are selected to provide the highest ROI
  • Ensure the most appropriate contractors are selected
  • Optimize the correct mix of contractor and employee staff
  • Forecast the skills requirements based on current/future projects
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Posted by Oil and Gas on April 08, 2012 at 03:21 AM EDT #

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Posted by Oil and Gas on April 08, 2012 at 03:21 AM EDT #

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