Industry overview

In recent times, the oil and gas industry experienced the best macro environment influences in more than 30 years. Global demand for crude oil and natural gas was strong. As a result, large integrated oil companies and those operating in related sectors experienced record profitability and cash flows.

Organisations in the oil and gas sector increased their efforts in exploration and development to find new oil and gas reserves, after an era of cautious investment. The goal of this increased activity was to provide scarce energy resources for an ever growing world. Additionally, it provided growth opportunities for the sector as a whole.

With the attendant boom came a major shift towards the application of natural gas and other alternate energy sources.  However, this is also causing acceleration and economic activity in many markets around the world, with unprecedented levels of investment in liquid natural gas plants, pipelines and ships for production and transportation.

An active environment such as this provides ample opportunities for service firms like ours that provide ancillary service to the major players in the oil and gas industry – both in Nigeria and globally.