• Umoru Idris

BENEFITS OF CONSULTING IN OIL & GAS INDUSTRY

The world is continually changing at a constant rate and so is the dynamics of oil and gas industry, and keeping pace with regulations, competition, and industry growth throughout the chain is no easy feat. New techniques, technologies, human and capital innovations emerges every now and then, thus replacing what gave us better results in the time past, to remain relevant and pursue sustainable growth and developments in the oil and gas sector demands that industry experts, board of directors and managers should continually bring in innovative ideas and technical strategies.

Startups and established companies alike may find themselves at a crossroads and not know how to proceed. From pricing volatility to expanding into new territories to improving their supply chain and scaling their workforce, companies spend a lot of time and money figuring things out, and there’s no smooth way of knowing whether or not you’re on the right path.

Every decision you intend or has ever implemented carries a lot of consequences in your business’s success, but using an oil and gas industry consulting firm allows you to share your workload, giving you professional expertise and providing for the best use of your resources in addition to innovative ideas. This brings us to the question.

What is consulting?

By definition, consulting refers to management or strategy consulting, the practice of helping companies increase their efficiency and profits by addressing the major operational or strategic challenges they’re facing.

Here’s a simple analogy: you’re a farmer and know how to plant, cultivate and harvest food and cash crop. If you were using a consultant, they would tell you modern equipment to use, what kind of fertilizers you should use, shifting cultivation and best time of the year to plant, and everything else that happens before you actually farm.

Relating this to the oil and gas industry, services include research and innovative ideas, sourcing and man power development/supply, procurement services, taken care of corporate social responsibility through training programmes, evaluation and appraisals of oil and gas properties, exploration services to determine the potential value of those properties and full-service planning and execution of oilfield contract operations etc. We provide our world class consultancy services in the downstream and upstream lifecycle to help you lay the groundwork to be successful.

This brings us to the question, Why Oil & Gas Consultants?

Consultants are one of the easiest ways to scale your organizations success. Rather than taking on additional employees and overhead to complete a project, companies can tap into industry experts for a fraction of what it would cost them internally to recruit more staffs.

Private equity and startup companies who don’t have the resources or experience in the industry can use consultants to scale quickly while remaining cost conscious. In essence, they’re expanding their team as needed to remain competitive in the market without taking on additional overhead and expenses.

Established corporations and upcoming companies alike can also benefit from third-party expertise. From growing your footprint in a competitive industry to creating sustainable growth in uncertain markets, our team of experts can provide you all the professional training, research, technology, cost analysis, and even the innovative ideas and strategies to save you from figuring it out on your own through your own trails and errors which is not good for your overall focus and success.

As an oil and gas consultants, we’re not just an extra set of eyes and hands, but rather value-adding partners that care just as much about your success as you do. We can help with all aspects of professional training, research, corporate social responsibility services via training and execution of major oil and gas services like procurement and man power sourcing to ensure your project will be a win for your company and clients alike.

If you’ve never worked with an oil and gas consultant (or have considered working with one but never given it a shot), it’s essential you understand what the benefits and process looks like so you can set the right expectations from the beginning.

To launch out, you should have goals in mind, both for the outcome and for the process at large. Oil and gas companies who are new to working with consulting partners should know what services they can bring to the business and know how to apply those benefits to unleash their highest potentials.

This is actually harder than it looks. Companies tend to define these services as separate functions rather than part of their overall system for industrial growth. They don’t know where or how to start with a consulting partner, and therefore don’t fully understand how to conceptualize, value, or measure the essential services they provide.

However, it’s important to understand that not all consultancy firms are equal. Apart from pricing and services, there can be huge difference on the level of service, communication, accountability, competency and collaboration. If you need a world class collaborator that’s efficient, responsive, timely, cost effective and involves you throughout the process, you should make those expectations clear up front and feel confident they can deliver.

How Meryres Consulting Can Help Your Business?

When it comes down to defining the purpose, using a consultant should ultimately improve your profitability. On the surface level, working with an oil and gas consulting partner offers the obvious advantage of expanding your internal resources at scale.

But more importantly, you expect the resulting insights or production to do one of two things:

· You expect to see some form of return on investments (ROI), usually by generating revenue that otherwise may not have been possible without their help.

· You want to cut costs on a project, saving more money than you spent on consulting services.

Whichever way you prefer, our ever motivated world class team of oil and gas industry experts and facilitators brings decades of experience to your projects. Get in touch with Meryres Consultants today on +234067546700 or +2348071572868 visit our site www.meryresconsulting.com to learn more about how we can help you thrive and stay ahead of your competitors in the ever competitive oil and gas industry.

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