IHS Costs Solution for Oil & Gas Industry
The drop in oil prices over the past year has continued to put pressure on margins. As oil prices are reaching a relative equilibrium, and as volatility recedes oil prices are likely to stay in the $50-$70 range in the short and medium term.
Rising upstream costs are driving the Oil and Gas industry towards a greater scrutiny on Capital and Operational expenditure; as margins are squeezed with returns down and costs up, there is no question a challenging set of scenarios for the industry lie ahead.
IHS can help you understand the holistic impact of costs on your operations and empower your team to build strategies for optimizing CAPEX, OPEX, manage risks and build a comprehensive procurement strategy with information, analysis and future outlook provided for the complete Oil and Gas value chain.
We can help you in streamlining your operations and realize savings by:
- Enhancing early phase cost-estimation with our world class project cost estimation tool IHS QUE$TOR®
- Improving procurement strategy with over 500,000 historic price time series data concepts, and over 3,000 price, cost and wage forecasts
- Benchmarking costs and expenditure with industry peers to see where you can reduce your CAPEX and OPEX
- Understanding which development concepts (e.g. platform; tension leg platform; floating production, storage, and offloading vessels; and others) are most or least affected by specific cost and oil price drivers
- Assigning activities and resources to all areas of an Asset from maintenance of a single compressor to any corporate overheads with Activity Based Costing (ABC) methodology
- Identifying the best suppliers with 100 supplier assessment reports, 700+ company ratings and information on 95 service companies
Optimizing costs through improved CAPEX and OPEX discipline
Operators looking into operating and capital expenditures need to look broadly. They need to take the time to analyze their operations, and extended supply chains at a granular level and surgically cut costs to boost efficiency if they are to achieve long-term growth, profitability, and competitive advantage.
IHS Webcast - Informing better sourcing decisions for offshore and onshore E&P projects
Date: 15 July, 15:00 CEST
Speakers: Patrick King - Principal Researcher, Houston, and Dag Kristiansen - Senior Principal Research Analyst, Oslo
Overview: With low oil prices squeezing margins on E&P project capital expenditure, there is increased pressure on upstream procurement teams to decrease costs through making the right sourcing decisions on timing, equipment and suppliers. An accurate assessment of supply, demand and cost now and in the next years supports better decisions with a significant impact on overall project costs. In this webinar, IHS Costs & Strategic Sourcing experts will focus on 2 high impact sourcing decisions: offshore rigs and onshore production facilities, with a focus on EMEA projects.
Patrick King will speak about the impact of lower oil prices on supply-demand balance and the resulting outlook for offshore rig rates globally and regionally. Dag Kristiansen will present an overview of activity related to the construction of onshore oil and gas production facilities, analysing contractor capacity and workload and the cost outlook.
No room for extra costs in a low price environment
Operating efficiently is always important for oil and gas operators. Today, however, dramatically lower oil prices and a global oversupply of crude oil have combined to make efficiency and cost management in field development planning ever more critical.
IHS Webcast - QUE$TOR®: Upstream Cost Estimation in North Sea
Date: 11th August, 15:00 CEST
Speakers: Dr Greville Williams (Engineering Manager IHS QUE$TOR)
Overview: The volatile oil price is a concern for many E&P companies at the moment. One of the main focus areas of is upstream costs and how they impact the whole oil and gas value chain.
Join our leading industry experts to discuss the impact of lower oil price on upstream costs and learn how IHS QUE$TOR helps in understanding current costs trends with and future market outlooks.
Join our leading industry experts to learn:
- Upstream Industry’s Cost trends over last few years
- Importance of accurate project cost-estimation
- Cost Modelling case study utilising IHS QUE$TOR for a leading North Sea project
- Register for webinar