Top 10 Benefits of Participating in Awards (Why You Must)

oil and gas awards

Being recognized for your work or efforts is of great value and motivation to a person. It is the same when it comes to business. Upstream oil and gas awards seek to play a big role in promoting excellence in the oil and gas industry.

If you are new to the sector, oil and gas is divided into three segments, upstream, midstream and downstream.

From the award’s title, you might have noticed that the focus is on the upstream oil and gas segment of the industry. This sub-sector is huge and the ecosystem is wide.

Upstream awards focuses on the activities related to extraction and production of the oil and gas resources.

Oil and gas is a major source of global energy, and therefore plays a significant role in our economic activities.

In this article, I will help you understand the origin and the vision behind the upstream oil and gas awards.

What are Upstream Oil and Gas Awards?

Getting the oil and gas resources from the ground are a tough job. It takes a great deal of effort and investment to explore and produce hydrocarbons.

There are many players who carry out different roles to ensure that you have oil and gas in the world.

The idea behind upstream oil and gas awards is to celebrate or recognize the efforts of the people or businesses that do this work.

In this regard, upstream awards are a program that recognizes and celebrates excellence across the upstream oil and gas industry.

It is an award scheme that looks for individuals and companies making positive contribution to the growth or development of the upstream oil and gas value chain.

Benefits of Oil and Gas Awards to a Business

If you are interested in participating and being part of an awards ceremony, it is good to know that you can generate a host of benefits for your business.

This would include benefits for your employees, improving your business productivity and profitability.

Benefits of Awards and Recognition

The benefits to a business when it comes to awards and recognition include;

  1. Motivation

Winning an award is a great motivation to entrepreneurs and also employees in an organization.

Getting appreciated for the work you do is a big motivation. It will spur someone to work harder and be more productive.

There is a saying that “people will always work harder when they know they are appreciated,” and research backs it up.

According to one survey, 79 percent of employees say that recognition makes them work harder, and 78 percent are more productive after being rewarded.

  1. Publicity

Any award program creates an opportunity for your business to get publicity. This is what comes from the process of promoting the awards event.

If you win an award, you will receive a lot of publicity which is good for your brand or business.

  1. Marketing Opportunities.

When you enter or participate in a business award, your business is going to benefit from marketing opportunities that  awards provides.

There is great marketing value to your business or brand for being part of an awards event.

This provides an opportunity for you to generate business leads, and ultimately get customers to your business.

  1. Employee Retention.

People like being associated and working with a company that has positive positioning in the market.

An award can boost your business in the eyes of current employees, future employees and also investors.

Creating a winning culture is going to help you retain your employees, and this will reduce business costs associated with looking for employees.

How to Participate in the Awards

Awards are important to your business or career. This is how you can go about being part of business oil and gas awards.

10 Reasons and Benefits to Participate in Awards

Here are the top 10 reasons and benefits to participate in industry awards;

  1. You Get Rights to Brag

When it comes to the world of events, you get an opportunity or right to brag once you have won. Being declared the winner provides you with a platform to promote yourself.

It is a good thing and a proud moment to be showcased as the best in your industry.

  1. You Build Credibility.

To be able to have your customers trusting you, you should have credibility.

An award is going to make your business or brand to stand out from the competition. Credibility is going to help you build trust.

It is interesting that most people will always prefer to work with winners. Therefore, winning an award will provide good opportunities.

  1. It is a Good Investment.

Joining or participating in an award is actually a smart investment. You are going to spend very minimal costs, while the rewards can be very huge.

  1. Great Marketing and Publicity.

It is a very good thing to win an award. One of the great advantages is the attention and extra marketing or publicity you get from winning an award.

You also get great publicity from being shortlisted as a finalist.

These are great opportunities for your business and you should not ignore them

  1. You Get Recognition

It is common that an award is given in recognition of exceptional achievement in an area or within an industry.

This means that when you win an award, you are being appreciated for your work.

  1. You Demonstrate Confidence

Being part or participating in awards demonstrates you have confidence.

This is a good thing. Confidence can help your work and business. It is a good and smart way to impress your current and potential customers.

  1. Evaluation by Peers

There is a great feeling when you are judged by your peers within your industry.

However, an awards competition is only as good as the judging panel.

To have a successful awards event, you need to pick your judges from the top business leaders and influencers from your industry. This includes thought leaders in your industry.

You will get validation from knowing that your peers think you are the best in your industry.

  1. You Get to How You Compare to Others

It is important to be confident. However, it is better when your work compares better with that of your competitors in an industry.

Awards play the role of a benchmark and when you perform well, you realize your efforts are being appreciated.

  1. Helps Build Business Partnerships

One of the big benefits of award ceremonies is the networking opportunities you get.

In business, ability to build strong relationships and partnerships is fundamental to success.

Entering on behalf of or alongside a company client is a great way to strengthen your business relationship.

  1. Increases Your Business Sales

Joining and participating in awards boils down to being able to increase your sales, and therefore boost your business profits.

As an entrepreneur, your ultimate goal is to grow your business.

Awards provide you with an opportunity to promote your business products, generate business leads and capture new sales.

Upstream Oil and Gas Awards Categories

If you are interested in being part of upstream awards, you would need to consider the category you would like to submit your entry.

This is because your entry will be judged by a panel of judges, based on the category you choose.

It would be important for you to pick the award category carefully, so as not to reduce your chances of winning.

The upstream awards categories include;

  • CEO of the Year Award
  • Oilfield Services Award
  • Oil and Gas Insurer or Insurance Underwriter Award.
  • Woman of the Year Award
  • Training and Knowledge Award
  • Local Content Award
  • Logistics Services Award
  • Security and Safety Award
  • Oil and Gas Bank or Financier of the Year.
  • Oil and Gas Innovation Award

The idea behind these categories is to try to reward individuals and companies across the entire petroleum value chain.

Oil and Gas Awards – Examples

In the global oil and gas industry, there are many awards aimed at recognizing and celebrating excellence.

  1. World Oil Awards – Houston
  2. World Finance Oil & Gas Awards
  3. Oil and Gas Council Annual Awards

You should consider being part of oil and gas awards in your region or within your country.

Past Upstream Awards Events

The upstream award’s journey started with the first oil and gas business awards ceremony.

It was an evening gala event, preceded by a panel discussion on oil and gas issues. Among the business leaders present included Shell’s country manager and a former Weatherford executive.

In the following year, the awards ceremony was held at the Intercontinental Hotel in Nairobi. This was at the end of the East Africa’s Oil and Gas Summit.

Individual and corporate winners were celebrated for their contribution to the oil and gas industry.

It was across different award’s categories.

In 2019, upstream awards were held in Nairobi in Kenya and Kampala in Uganda’s capital.

The oil and gas awards in Kenya were graced by the government’s Petroleum Principal Secretary, Mr. Andrew Kamau.

In Uganda, the upstream oil and gas awards ceremony was graced by the then Minister of Energy, Eng. Irene Muloni.

Who founded the Upstream Oil and Gas Awards?

Upstream awards are the brainchild of Joe Gakuo. He is the person who came up with the idea to create this program to celebrate achievements in the upstream oil and gas sector.

You might be wondering a person would come up with such a business award.

Oil and gas exploration, development and production is a very important sub-sector within the petroleum industry.

Therefore, it is important to highlight the good work being done by various players within the sector.

I know you might not be aware, but it is possible that since you woke up this morning, you have used very many by-products of the oil and gas sector.

Conclusion

In conclusion, upstream oil and gas awards are an important aspect of the oil and gas industry.

Recognizing and celebrating people or companies that are making the industry move forward is of great importance.

The vision of the upstream award’s founder is to ensure that different players, across the upstream oil and gas value chain are celebrated.

Oil and gas plays a big role in our lives. It is therefore important for appreciate the efforts of those who make the industry work.

Business awards including oil and gas awards will provide huge benefits to you or your business.