Concurrent 3. Oral Presentation for: Oil, gas and new energy: how to transform holistically for a more efficient and sustainable future

Abstract

Presented on Tuesday 16 May: Session 3

Oil, gas and new energy companies are facing multiple competing priorities and challenges, from ongoing high-injury rates, a challenging economic climate, reduced capital funding, increasing social pressures and disengaged talent – all leading to pressure to transform at pace. Riding the commodity price cycle and taking a piecemeal approach to transformation is no longer a viable operating strategy. An integrated approach is required, to improve safety, risk, unit cost, growth, culture and decarbonisation performance concurrently, whilst making new energy assets viable. Critical to this integrated approach is an agile, well-designed operating system. Operating systems are not new to the oil, gas and new energy industry; however, dss⁺ has witnessed the limited effectiveness many of them have in enabling businesses to transform holistically and rapidly. Through this presentation, dss⁺ will give practical guidance on the elements critical to an effective operating system, using the real-life example of a recent project which saw dss⁺ partnering with a global oil and gas operator to deliver a reduction in tier 1 and tier 2 safety events, reduce business operating expenditure by US$90 m, reduce capital expenditure by US$20 m and deliver an additional 350 000 boe above budget at a critical asset in the region.

To access the Oral Presentation click the link on the right. To read the full paper click here