As much as 80 percent of the operational budgets in most oil and gas companies are earmarked for supply chains - primarily for materials and services provided by third-party suppliers. Due to the size of this percentage, many companies have over the years targeted supply chains for cost cutting and efficiency improvements.

With many new production wells being developed at challenging offshore locations and with the critical need to keep the cost of marginal field development at a minimum in order to drive profits, optimal logistics and supply chain solutions are necessary to keep the process as smooth and visible as possible.

Praxis Global Research is working along with the Executive Steering Committee to host its premier global forum in the Procurement and Supply Chain series. The Global Procurement and Supply Chain in Oil & Gas 2013 taking place in Abu Dhabi, UAE from 27 to 29 May focuses on identifying, pinpointing and discussing the key parameters driving the supply chain industry. Supply chain optimization and process efficiency is primarily achieved through aligning the company's supply chain objectives with the industry drivers. This includes synchronizing supply with demand, keeping the supply chain transparent to effectively manage risk and ensure smooth operations, and achieving cost efficiency through overcoming budget over run.

The Steering Committee has laid down the sessions to cover some of the most important concerns in the successful operation of the supply chain. The major topics covered includes Integrated risk based approach to contractor safety management, Contract management - Approaches to monitoring, managing and mitigating risks with your suppliers; Negotiation; Aligning Procurement Strategies with the operating company's supply chain objectives, Achieving excellence through centralizing sourcing and planning; Dispute Resolution - Addressing Insurance and legal Issues in oil & gas supply chain, Possible areas of dispute, agreement and contract drafting, consequential losses and insurance claims, knock for knock indemnity between operators and contractors; Addressing skill shortage and organizational excellence in supply chain.

The event serves as a platform to address and overcome the bottlenecks in the industry. The Steering Committee follows a unique format to achieve this objective, it comprises of interactive sessions involving case study analysis, presentations from operators, main contractors, and solution providers, and interactive brainstorming and solution-finding sessions.

For more information on the Global Procurement and Supply Chain in Oil & Gas 2013, please contact Serah Ben at serahben@praxis-global.com l +971 50 145 0838