Energy companies face unprecedented challenges raising the alarm that global dependence on oil is in jeopardy. A combination of factors—the global pandemic, overproduction by non-OPEC members, the rise of renewables and electric vehicles—is resulting in both oversupply and suppressed demand. To compete and thrive companies must rethink how they operate and dramatically transform their operating models, supply chain practices, cost structures, and workplace design.
Continued price volatility, global health concerns, oversupply, and the race to carbon neutral place greater pressure on energy companies to reduce costs. No longer can they wait out the boom-bust cycle as they had in the past. While heavily invested in technologies to access real-time data, these solutions alone are not sufficient to drive the desired outcome.
Today’s unique challenges: protecting employee health and safety to an ever-greater degree, preserving cash, and taking advantage of the available real-time data to make more informed decisions requires new thinking.
We leverage our deep and pragmatic Operational Excellence experience along with digital and model building capabilities to provide insights that simplify tasks and drive operational improvements. We have helped companies lead projects to increase efficiency, decrease extraction costs, improve working capital, enhance asset management, reduce complexity, organizational design, and risk mitigation resulting in many multiples return on investment.