Spanning Canada and the United States, North America is home to a plethora of major industry players, including Exxon Mobil Corp, the world's second-largest publicly traded company after Royal Dutch Shell. The region's oil and natural gas industry is focused on developing oil sands, deepwater gulf prospects and increasingly profitable shale deposits stretching across the continent. One of the premier sweet spots for deepwater exploration, the Gulf of Mexico is the largest body of water indenting the U.S. continental coastline, and its subsea developments continue to spark both national and international interest.
Budget and cost control professionals play an important role in oil and gas projects and organizations. The goal of these individuals is to keep costs down and widen profit margins. Budgeting refers to forecasting the future costs of a specific project, or an entire fiscal year. Budgeting professionals will try to plan for every expense and come as close as possible to the actual figure. Cost control refers to containing expenses and monitoring how close to budget a project or company is. Both budgeting and cost control professionals are found in every aspect of oil and gas, and while they are most closely associated with the design and construction phase, they continue to monitor costs throughout a project’s life cycle.