Oil and gas has its peaks and valleys.  Worldwide, politics and infrastructure can change the price of a barrel of crude at the drop of a hat.  This is old news.  But looking toward the future, there are some signs in the industry that are worth paying attention to – and developing a proactive response.

Labor Issues  Like many other industries, oil and gas companies will see a large portion of their workforce come into retirement age within the next few years.  While there is no real shortage of people interested in the income opportunities with oil and gas, what will impact this industry is the experience that will go along with those retirements.  Experience with the equipment isn’t the only concern.  Safety will play a critical role as well; senior employees have developed a finely tuned eye for dangerous situations that the younger workers have yet to explore, making safety training and seminars vital in the coming years.

The Unknown  Well, in this case, we might call this category the “Known Unknown,” as these situations are nothing new for oil and gas, but they are unpredictable.  Large-scale events (like politics and environmental disruptions) cannot be predicted, but are virtually guaranteed to keep happening.  So is the specter of increasing regulations and the inspections that go with them.  Some of these inspections require emergency response equipment, temporary structures and more – so operators in the industry should budget to absorb these costs or the downtime associated with a large-scale event.

Equipment Failure  Since spills are largely the result of equipment failure, this category may well be the most important, if only because it is the category most in our control.  Anything a company can do to increase equipment reliability and decrease downtime will help boost profits in an uncertain market.Komax can help address these concerns with a range of innovative equipment that reduces noise, reduces environmental footprint, boosts productivity and efficiency and – even better – saves money.  Ask us how we can help stabilize your profits in this environment.