One of the surest and most obvious signs of an ailing industry, crippled by the challenges it is facing, is the profitability of its constituents. By this measure, the offshore oil and gas service sector has clearly not been in the pink of health for quite some time. Despite obstacles posed by costs and supply chain concerns, oil and gas companies will sanction more projects. Service companies will see more projects. The shifts in biding and contracting strategy will increase the chances of better project execution and delivery but will inevitably result in higher cost and longer leadtime to project owners
Have a read on the industry outlook of the Offshore Supply Chain sector by S&P Global!
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