Helping North Sea operators achieve high performance

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North Sea operators face unique challenges Since the peak of oil price highs in July 2008, the global oil industry has encountered volatility, fluctuations and the overall impact of the global economic downturn. The day-today management of an oilfield services or energy business has grown increasingly challenging, and long-term planning requires acute vision, strategy and execution. But one thing for North Sea operators to keep in mind is that the energy industry was already undergoing substantial change—even before the downturn. For example, ongoing trends include: the rise of the national oil companies (NOCs); increasing levels of carbon and environmental legislation; oilfield services companies playing a greater role in industry development; a growing talent shortage; and the end of “easy oil.” Experience shows that the gulf between winners and losers in the oil industry widens in periods of economic turmoil. Accenture’s ongoing research programme confirms that highperformance businesses use times of economic upheaval as opportunities to move ahead of those competitors focused solely on survival. But for all businesses, the key to dealing with a rapidly evolving environment is to prioritise activities and investment to tackle the most important challenges as they arise. Today’s North Sea operators face three categories of challenges: Strategic challenges Oilfield service companies are seeing their customer base change from oil majors to national oil companies (NOCs) in frontier regions. There also is a growing overlap between the service offerings from oilfield service providers and operators. And the whole industry is facing up to the intensifying challenges of maturing oilfields and a restricted supply of talent. 2 Operational challenges The globalisation of industry supply chains and operating models are putting traditional ways of doing business under strain. Aging infrastructure is creating an increasing need for investment and renewal. But the economic downturn and oil price volatility are intensifying the pressure for cost reduction and more effective utilisation of capital, as well as a need for greater efficiency in operating models and project delivery. External challenges The energy industry has limited influence over external challenges, but players still must understand and manage the effects. These types of challenges include the severe price volatility and the impacts of fiscal and regulatory change, reflecting environmental concerns and the widening of governments’ budget deficits in the downturn.
Accenture services to help North Sea energy companies achieve high performance over the long term The Accenture Energy industry group has drawn on our analysis of industry trends and ongoing proprietary research to develop a suite of services specifically designed for clients in the North Sea energy industry. These services can help your business achieve high performance by striking the right balance between responding to competitive pressures and investing in future growth. Our services include: Did you know? Accenture has created energy hubs in energycentric locations around the world including Aberdeen, Amsterdam, Bangalore, Buenos Aires, Houston, London, Luanda, Moscow, Rio de Janiero and Stavanger. These hubs serve as a network to respond quickly to client needs and track emerging trends. • Integrated oilfield solutions • Maintenance management • Capital decommissioning • Upstream operational efficiency • Contract management and procurement • Logistics, warehousing and inventory management • Post-recession pay and talent strategy 3
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