The world-famous firm has deep roots in Australia ensuring some of the biggest and well-known projects, including Chevron's Gorgon project, Woodside's dominant position on the North West Shelf, and BHP's big iron ore developments, have come to life.

Now, it ensures resources companies successfully navigate the energy transition, volatile commodity markets, unexpected trends, and manage capital and operational spending. KPMG has a global reach and offices staffed by intelligent professionals focused on their clients, both big and small.

The firm offers the oil and gas and mining industries advice and strategic consultancy, across a myriad of areas, as industries enter what is becoming a whole new world.

The internationally recognised firm understands Australia's transition to a decarbonised future will rely on mined natural resources to build the basic infrastructure, whether it be to generate, store and transition to greener power, or manage to weather the rough seas of commodity cycles.

In the current climate, KPMG, which was founded in Australia in 1895, has a particularly modern and superior outlook, when compared to its peers - especially when it comes to infrastructure and major projects in the mining and oil and gas space.

KPMG takes a view that infrastructure and major projects need to encapsulate a whole of circle approach through feasibility, feed, engineering procurement and construction.

However, it does not stop there, and clients are encouraged to consider opportunities that exist in commissioning, operations and then decommissioning or rehabilitation.

"For us, the view is broader," KPMG partner James Arnott explains. "We provide an ability of understanding the complete lifecycle. Recent events associated with rehabilitation are placing a far greater lens on decommissioning and rehabilitation."

It is a particularly important time for miners and oil and gas producers, when considering capital projects in 2021.

"There are several considerations in a transitioning world for both greenfield and brownfield projects - whether its building new assets or considering maintenance of an existing asset," Arnott said.

KPMG sees three major challenges facing mining companies and oil and gas producers this year. None of these can be underestimated but with the firm's help, could be mitigated or managed in such a way that they bring dividends.

While significant capital investment funding for major projects is readily available, challenges associated with the capacity to deliver the projects may hamper developments.

"Large miners are making decisions on current commodity prices and looking at developing new resources, while in Australia there are oil and gas companies looking at the energy transition and considering their ability to extend the life of their existing assets," Arnott noted.

"On top of that, we have utilities companies looking at how they fit into a changing energy mix, and while some generation is going offline, they need to consider how to replace that generation capability."

To Arnott, this is all juxtaposed with large infrastructure spending elsewhere.

"I think we have large amounts of capital but a finite base of resources. This could lead to issues from a talent perspective."

While renewables are booming, KPMG also noted there were more traditional types of projects coming to the fore. However, this will only create more competition for capital investment.

Thirdly, the firm believes ESG is becoming a necessity, however it remained a challenge for miners and oil and gas companies alike.

Arnott also noted a differentiation in how traditional energy projects, in particular the major gas or LNG projects in Australia were changing, from an investment perspective.

"The old way of collaboration - with joint venture offtakers - is changing, particularly in oil and gas. It's becoming about how the asset is utilised and relationships between joint venture partners and operators."