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The Road Less Taken: Weathering the Downturn with an Eye on the Future

Published in Offshore Magazine on July 6, 2016

By Arshad Matin

Software CEO


It becomes a vicious cycle. Oil prices drop for an extended season. Oil and gas operators cut budgets and lean on suppliers to contain costs.  Suppliers offer discounts to maintain share and cut their own operating costs to offset falling revenues. In the process, suppliers that typically bring new technologies and capabilities to the E&P process slash investments in R&D, leaving the industry innovation-starved and less able to meet long-term challenges. Meanwhile, industry challenges intensify over time, including growing geological complexity, skills gaps in the workforce and growing data intensity of workflows.  In a nutshell, it is a ‘lose-lose’ for the industry and ultimately bad news for balancing global energy supply and demand.