Is this just another cycle or an opportunity to change?
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abstract
[...]the goal should be to take steps that lessen the impact of oil prices, as they rise and fall, and provide a robust formula for maintaining a business model that weathers these changes. [...]tools are needed to reduce costs, keep them in line with revenue, and provide the opportunity for sustaining growth. [...]here are some considerations that could smooth market price swings: * Establish clear and concrete process steps with consistent economic measurements. Below are some considerations for reducing offshore facilities: Remote operation through virtual control and monitoring. Reduction of transportation costs for personnel and supplies. Reduced quarters, boarding, etc. Increased safety-less exposure to personnel for risks of travel, environment and work spaces. * Reduce the boom-and-bust costs of workforce changes: training, learning curve risks, unemployment costs, separation costs, loss of personnel expertise and experience.
