PwC is the world's largest provider of audit and advisory services to the oil and gas sector. Typically within the oil sector we combine our industry-specific expertise with knowledge of the service areas our clients demand.
In Norway we have a team of seasoned industry and technical specialists who, alone or in collaboration with colleagues from our international network, assist our clients in all aspects of our service range.
The size and importance of the oil and gas market is historically high, and the industry will continue to grow to meet the world's growing demand for energy. The current demand of 200 million barrels of oil equivalent per day will likely double by 2050. To meet the demand for access to energy sources requires increased capital, additional employees, better technology and the highest standard for environmental management.
Mergers throughout the industry result in larger and more complex organizations, with global operations growth and greater challenges. In addition to the private "super majors", the larger state-owned energy organizations are crossing national borders to compete for resources and growth end-markets.
We see four drivers of increased transaction volumes ahead:
- Increased consolidation among mid-sized companies.
- Growth of the national oil companies from Russia, China and India, also through the acquisition of areas outside their home markets.
- A very strong upturn for oil service companies, combined with a shortage of human capital and hardware, accelerating the number of transactions among oil service companies.
- “Private equity" participants' increased focus on the oil and gas segment.
Contact us
