Worley: Offshore market rebound still defined by focus on capital discipline

After years of underinvestment, confidence is returning to the offshore oil and gas industry. However, this confidence has manifested not as an exuberant return to early 2010s-level spending but rather as measured optimism grounded in capital discipline, says Mike Buck, Senior VP of Upstream, Midstream and LNG at Worley. Speaking to DC in this video from Worley’s Houston offices on 30 July, Mr Buck explained how operators are applying hard lessons on volatility, cost escalation and project delivery risk to its current and future business models. He also spoke about how digital technologies and automation can help operators improve reliability, performance and decision-making at scale. Lastly, Mr Buck explained what this cautious mindset means for offshore drilling contractors as they navigate the near- and long-term future.