Exploration and production capital project performance have become increasingly challenging over the last decade. Consequently, operators have struggled to meet cost, schedule and operability targets. In addition to internal efforts to improve project performance, many have started to look outward to leverage the service sector.
Greater collaboration and integration between operator and contractor have been achieved to some extent in downstream and utilities, but less so in upstream capital projects. The time is ripe for change in the industry supply chain, as companies seek to address the challenges of increasingly complex projects and systemic shortages of talent in the industry.