Abstract
Abstract The Oil and Gas industry today faces many challenges moving towards the 21st century - the globalization of the energy market, increasing demand for oil and gas, changing oil field economics, and greater emphasis on cooperation and communication among the oil and gas companies and service companies. The future growth and prosperity of the oil and gas business depends on how effectively these challenges are addressed and managed. This paper will cover: • The impact of today's global energy market on oil and gas companies and service companies • Changing business relationships between Oil and Gas companies and service companies • Advances in technology and efficiency gains, including a couple of specific examples • Effective combination of technology and teamwork as the key elements for growth
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