Senior oil and gas sector professionals expect a step change in the industry’s capex, opex and R&D spending levels in 2018, according to a new industry benchmark study from DNV GL.
A new optimism is now emerging with confidence levels rising globally from 32% in 2017 to 63%. The research also reveals that more than a third (36%) expect to increase spending on R&D and innovation, with digitalization and cyber security emerging at the top of the industry’s ten highest spending priorities in this area.
‘Confidence and Control: the outlook for the oil and gas industry’ is DNV GL’s eighth annual research report on the outlook for the oil and gas industry, drawing on a survey of 813 senior sector players in addition to in-depth interviews with industry experts.