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Managing Contractors, Consultants, and Suppliers in the Oil and Gas Industry Effectively

Investigating the Challenges and Best Practices

Managing the contracting and outsourcing process has long been a huge challenge in the oil and gas industry. According to the latest forecast from research and consulting firm GlobalData, the demand for diesel and gasoil is set to rise by at least 525mbd (thousand barrels a day) over 2013 levels. What this brings is an increase in demand for EPC (engineering, procurement and construction) and EPCM (engineering, procurement and construction management) providers to handle bigger projects. With that, the increase in the scope, size, complexity, and risk of engaging contractors will be one of the biggest challenges for companies in the industry.

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