The plummeting oil price has forced companies to identify areas where costs can be cut and savings made. The battle to sure up finances and compensate for the loss of revenue means the industry is seeking innovative ways to streamline operations and work more efficiently. In the management consulting and technology services arm of Hitachi Ltd., we have worked on offshore oil and gas projects around the globe, and have had considerable success adapting the business models of key industry players to meet the challenge of a lower oil price.
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