Page 32 - Impiantistica Industriale

On the other hand, it has become more com- by heavily investing in facilities, compe-
plex to satisfy Local Content requirements, tence development and even technology
mainly because: transfer to producing countries. General
• Projects require strong expertises / Electric and Schlumberger in Saudi Ara-
technological solutions / qualifi ca- bia are a clear example. Smaller compa-
tions nies, need to either aggregate efforts to
• Projects are located in “new” geog- establish a robust local presence or in-
raphies (e.g. Mozambique, Indone- crease effi ciency of operations “at home”
sia, …) with low Local competences to remain competitive. In both cases, it is
• Contractors and component provid- essential to defi ne a clear value proposi-
ers are under cost pressure, making tion in respect to local content require-
local investment expensive and not ments, in order to remain competitive vs.
respecting cost / schedule / quality other international players.
requirements
In conclusion, we believe Italian O&G players
Access to fi nancing is the most relevant should define a clear agenda based on the four
pillars highlighted, to be able to sustain growth
source of complexity and a critical success and value creation in the new industry context.
factor, together with Contract complexity, Positive signs of a recovery are only opening
Technological leap and Local content the page to a new age of Oil and Gas, where
requirements Oil Companies have structurally reshaped their
approach to the market and to operations. This
change requires contractors and suppliers to
Some global players have though clearly define a new strategy to restore compet itive-
adopted a “go to local market strategy”, ness and sustain growth.

30 Impiantistica Italiana - Settembre-Ottobre 2017