The global energy sector has been facing major challenges due to the global financial slowdown. The credit crisis has affected the energy industry in the form of crude oil demand decline, price fluctuation and delays in major energy investments, thus directly impacting global oil consumption patterns.
Despite the current economic conditions, the long term demand for oil in the global economy would continue to further strain the supply side. Depleting crude reserves, increasing difficulty in tracing new reserves and high capital expenditure to explore non conventional sources of energy are problems that further affect this industry. To thrive in this competitive marketplace, energy companies are forced to constantly re-evaluate their business and IT strategy.
At TCS, we work with some of the largest energy majors worldwide, focusing across the Energy Value Chain. With a combination of technology and domain expertise, backed by our vertical-focused Center of Excellence, we are able to define and deploy innovative, reliable and responsive solutions to achieve business objectives.