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Costs & Technology Consulting

Maximize your competitiveness at the corporate or asset level

As the oil and gas industry adapts to the foreseeable low oil price future, controlling costs and using technology to maximize efficiency and unlock new resources have never been more important. With revenues falling much faster than costs since 2014, oil and gas producers are looking for innovative ways to improve the efficiency of operations of existing fields and the way they design, build and operate new projects. Standing still is not a long-term viable option and, therefore, operators are seeking ways to produce more for less through rigorous continuous improvement, application of new technologies and selecting the most economic projects in their portfolios.

IHS Markit experts can help provide you with the transparency you need to manage both CAPEX and OPEX costs, harnessing both market opportunities and advances in technology to gain a competitive edge. We provide tailored consulting studies or customized client reports on:

  • Field development planning: Applying the right concepts and technologies to maximize value
  • Cost estimation: Using the latest market prices, supply chain availability and local knowledge to ensure realistic cost assessments during the early project stages
  • Audits and reviews: Ensuring that estimates and project valuations are comprehensive and achievable within current market conditions
  • Supply chain analysis: Providing a deep understanding of suppliers, input costs and how demand will affect future pricing, investment, and market and competitive strategy support
  • Project performance benchmarking: Analyzing projects cost and performance to compare with peers and industry standards
  • Analysis of offshore rig markets: Providing supply/demand and activity forecasts
  • Analysis and valuation of offshore vessel markets: Conducting fair market value and future valuations of offshore rigs
  • Technology consulting: Assisting with R&D strategy, competitor analysis, best practices, benchmarking

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Pritesh Patel

Mr. Patel is responsible for the cost and expenditure, rigs, onshore, offshore and equipment services, as well as cost consulting offerings from IHS Markit. He is an expert in oil and gas conceptual development studies, both onshore and offshore. During more than 20 years of domestic and international experience in project management and strategic consulting, Mr. Patel has investigated the full range of offshore oilfield development scenarios, including subsea systems, floating production systems and boosting technologies. He has developed services and solutions for the supply, procurement, and market intelligence groups for major operators. He also has been involved in business strategy development and industry forecasting, developing a broad understanding of worldwide industry issues and trends. Mr. Pritesh Patel holds a Master of Science in chemical engineering from Loughborough University, United Kingdom.

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Judson Jacobs

Mr. Jacobs studies the strategic implications and tactical applications of oilfield and digital technologies across the oil and gas value chain in the current role. His recent research includes the role of technology in managing oil and gas GHG emissions, new technology commercialization strategies and open innovation models, and the growing role of digital technology in field development and asset operations.Prior to joining IHS Markit Mr. Jacobs worked as a management consultant with the Mitchell Madison Group and held senior engineering positions with Schlumberger and Anadarko Petroleum Corporation. Mr. Jacobs hold a BSE from Princeton University and an MS in Geology from Stanford University.

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Oscar Abbink, Ph.D.

Dr. Abbink is responsible for analysis of the strategic implications of new technologies in the energy sector and leads the Upstream Technology and Innovation service. He is widely respected for his knowledge and global experience with upstream oil and gas, energy industry monitoring and trends, and oil and gas digitalization. ​​​Dr. Abbink has more than 20 years' experience in the international energy sector. He has led many research and consulting projects advising organizations with their technology strategy, benchmarking, and implementation, and their digital transformation. Previously, Dr. Abbink was Industry Leader, Oil and Gas, Business Consulting, with a major system integrator, and Director Oil and Gas with a major research organization.Dr. Abbink holds a M.Sc. and an industry-sponsored Ph.D. from Utrecht University, the Netherlands and is fluent in Dutch and English.​

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Andrew Day

During his nearly 30 years at IHS Markit, Mr. Day has led consulting teams undertaking oil and gas field, pipeline and LNG facilities design, engineering, and CAPEX and OPEX cost estimation consulting solutions to the industry including market outlooks and supply side market intelligence. Working closely with research and product teams, Mr. Day has also been directly involved in the development and consultation of IHS Markit's cost research and tools, including UCCI, UOCI, Vantage, QUE$TOR® and OPE$T. Throughout his career, he has provided his expertise to customers on worldwide projects of all sizes, including regional development plans, due diligence, field development planning and conceptual engineering, as well as other areas of expertise encompassing market forecasts, process design, subsea processing and commissioning. Currently based in Dubai with a focus on the Middle East region but still covers projects across all parts of the globe.Prior to joining IHS Markit, he was a process engineer for Humphreys & Glasgow/H&G Engineering, working on the design and commissioning of a wide range of projects including subsea separation, the Miller oil field, ammonia production and oil refining. Mr. Day holds a Bachelor of Science degree in Chemical Engineering from Aston University, UK, and is a member of the Institution of Chemical Engineers.

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Erik Simonsen

Mr. Simonsen is responsible for the Executive Offshore Market Outlook (EOMO) service and customized client consulting within offshore rig and vessel market segments. He is responsible for the new offshore decommisssioning service in IHS Markit.Mr. Simonsen has experience from finance and market research within all offshore oil and gas sectors since 1997, and before that 13 years of experience in both the equity and lending side of the financial industry. He founded the market intelligence company Offshore Research AS in 1999, and the company was acquired by ODS-Petrodata in 2008. ODS-Petrodata was acquired by IHS Markit in 2011.He holds a Master of Science and Bachelor of Science from the Norwegian School of Business Administration and Economics (NHH), Bergen, Norway.

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