PE Live: OFSE consolidation needed to attract capital
Creating larger companies with a greater reliance on technology could provide the stable and larger returns that investors seek
The oilfield services and equipment (OFSE) sector seems set for a major overhaul as it seeks to attract capital amid low oil prices and technological change sweeping through the sector, according to the panellists on PE Live 4 webcast last week. Innovation is one of the key factors that will drive change in the OFSE sector, according to Celine Delacroix, global head of oilfield services at professional services firm EY. “Companies need to do more with less capital, less time and fewer people, so the need to innovate is going to be stronger than ever,” she says, adding that there is momentum towards remote working and operations, as well around artificial intelligence, machine learning and th
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