Buying oil and gas consulting help: how to do it effectively

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Oil and gas consulting firms serve to advise government and national oil companies, major and independent commercial oil companies, petrochemical producers, renewable energy companies, oil field service firms, private equity investors and sovereign wealth funds. These firms are charged with the responsibility of unlocking significant value for their clients

There are various reasons that would make one need oil and gas consultants

  • Need for a particular technical skill.
  • Need for a third party opinion.
  • Need for shorter expertise in oil and gas consultation.

However where seeking consultancy expertise you need to follow various steps so that after hiring such expertise you do not get a  feeling of being ’ripped off’ and that the consultant delivers the real value for your money. ( For more information : http://opportune.com/)

Do you need the consultancy?

This will depend on the problem the company wants to address and whether the problem persist event after hiring consultancy expertise. It also depends on the skill the company is looking for from the oil and gas consultants. The value the consultancy is likely to bring into your business should also be put into consideration.

For instance, today companies in the oil and gas industry are facing a great pressure from restructuring. Energy consulting firms need to seek help from an oil and gas restructuring advisor to help them overcome challenges and to promote strategic change that the customers can confidently make the right business decisions.

Draw up an initial brief

This is a first formal meeting whereby plans/objectives that you want to achieve are discussed. This will be after determining that the business really needs consultancy. In the initial brief certain things need to be highlighted.

  • Summary description of organization
  • The problem and the reason for its existence
  • Output and deliverables the consultancy should deliver
  • The role of the consultancy
  • The one to undertake the management role of the consultants and report delivery
  • Provisional budget
  • Timetable of work

Set up a meeting

This is with an aim of short listing potential suppliers. It is important to pay keen interest during the presentation and assess the individual and the consultancy .larger energy consulting companies are not always the best. One should thoroughly review the company’s previous successes, published cases and expertise in a particular area

Small Energy consulting firms may be more cost efficient than the larger companies but may lack wide experience to service a large scale project. Click here.

Choosing a firm

This should be based on written information from research, reports, websites, written proposals or references from others. This will ensure that you select the best firm for the job and that you get the best value for your money.

Making the contract

The contract should contain certain elements such as:

  • The work to be done the persons to deliver the work
  • The lead contact in the organization
  • Timescales and deadlines for the stages
  • The fees and schedule of payment
  • What expenses will be charged and on what
  • Whether vat will be charged and on what.
  • How and when the work will be reviewed and what to do if either party is dissatisfied.

Consultancy help is in no doubt a crucial service that a company needs to seek whenever they are experiencing problems or need expertise advice on a particular field. This should however be sought wisely. Energy management consultants are experienced experts who can offer financial and strategic benefit to an organization by leading it to cost effective and sustainable energy.

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