The research sample is based on the opinions of 727 senior upstream oil and gas industry professionals in an online survey conducted during April and May 2009. Respondents include C-levels, directors, managers and technical and professional staff.
The survey showed that all companies (explorer/producer companies and suppliers) that comprise the upstream oil and gas industry are equally optimistic about revenue growth in the next 12 months. More than 60% of respondents from each sector either expect an increase or stability in revenues.
The report said that majority of supplier companies will be increasing their marketing spend on various marketing channels in the next 12 months. More than 40% of upstream oil and gas explorer/producers are looking to increase total procurement spend while about 14% intend to keep spends constant for the ensuing year.
There will be conspicuous increase in spending on ‘instrumentation’, ‘pipes and pipelines’, ‘environmental equipment’, ‘it hardware, software and support’ and ‘training and simulation’, said ICD Research.
