Points of View

COVID-19 and a new oil-price crash pile uncertainty onto oil and gas execs: Providers must double-down on their outcome-based approaches for technology and services

Mar 24, 2020 Josh Matthews

Service providers to the oil and gas sector have already been shifting to outcome-based models. The new uncertainty surrounding COVID-19 and the oil-price crash means they must double-down. Historically, uncertainty about investments has been a barrier to adopting emerging technology in the oil and gas sector, among other objectives—and now, uncertainty is everywhere. As oil and gas execs look to reduce capital spending and scrutinize operating costs, their providers have the technology and services to optimize processes, manage supply chains, and alleviate the impact of job losses. Providers must be clearer than ever in the value of their customers’ spending on technology and services, to alleviate some of the uncertainty that threatens the whole oil and gas ecosystem.

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