This study highlights key IT and telecom implementation and spending trends in the oil & gas sector. Oil gas sector in this study includes companies engaged in oil & gas exploration/extraction, refining and marketing, and storage and distribution. Fueled by a constant increase in crude oil prices, the industry is experiencing strong revenue growth. At the same time, oil & gas companies are focusing efforts on implementing technology solutions that help them improve core operations such as extraction, refining, and distribution. In addition, oil & gas companies are also utilizing professional services in areas such as network design and implementation, accounting, and finance in order to reduce operating costs.