That's the official word from DNV GL chief executive officer Liv Hovem in the oil and gas consultant's latest Outlook Report.
She adds that the winners will also be "the companies that are able to take the right decisions and position themselves for the energy transition and to be relevant also in a low-carbon future".
Hovem says that two thirds of the professionals in the industry say that they have more confidence in the industry, "which means that they will be investing more, not only in projects and project development, but also in innovation and in research and development
The main findings in the Outlook Report, ‘confidence and control, the outlook for the oil and gas industry in 2018' are summarised as:
• Most professionals expect a step up in capex and opex in 2018;
• Confidence levels have doubled in a year;
• All regions display greater confidence in immediate prospects;
• Cost control remains a priority now and for the long term.
The report is based on a survey of more than 800 senior oil and gas professionals and in-depth interviews with 15 business leaders. It is DNV GL's eighth annual benchmark study on industry sentiment, confidence, and priorities.
The report, which published in January, is now available free onli