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Protiviti’s energy professionals help organizations specializing in oilfield services to manage risk and compliance challenges, while improving operational performance.
Oilfield services companies provide myriad support services to the oil and gas sector, including helping to keep the more than 1,500 rotary drilling rigs in the United States running around the clock. These services include contract drilling, platform construction, operating numerous types of offshore drilling rigs, seismic acquisition and analysis, and other specialty services. The aim of oilfield services companies is to help their exploration and production (E&P) clients manage risk and achieve success.
Oil and gas exploration often occurs in some of the most remote places with the harshest conditions in the world. As a result, oilfield services companies are at the leading edge of adapting technology and leveraging engineering expertise to deal with the terrific forces of nature. These companies face incredible risks, regardless of the price of a barrel of oil. When oil prices are high, their primary risks are centered on servicing their clients in a timely, safe and environmentally friendly manner. When oil prices are low, these companies have billions of dollars in fixed costs in the form of infrastructure, specialized tools and machinery and facilities that can become idle if their E&P clients scale back operations. Naturally, these companies demand quite a bit from their risk consultants.
Our experienced professionals help oilfield services companies identify, measure and manage their financial, operational, regulatory and technology-related risks throughout their systems and processes in order to assist them, and their clients, in realizing competitive advantages.
Our key solutions include:
- Capital Projects and Construction Management
- Vendor Contract Audits
- Internal Audit Assistance
- Supply Chain
- Disputes and Recoveries
- Corruption and FCPA Risk Evaluations
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