Since the oil price drop in 2014, oil & gas companies have refocused their portfolios in search of cost competitiveness. As a result, more companies have become de-facto specialists for certain asset types or geographies (such as North American unconventionals, oil sands, integrated gas projects). Conversely, the energy transition is spurring some larger companies to diversify into low-carbon solutions. How will this dichotomy of specialization and diversification impact the design of future upstream portfolios? How will diversified players make their capital allocation decisions between quite different business segments? What impact will the energy transition have on each class of upstream players?
The oil and gas industry is witnessing a new era of progress in digital and related technologies that are transforming operational performance and efficiency and creating renewed opportunity to secure sustainable growth. The industry has a history of developing technical and operational innovations that have forged game-changing growth into new segments such as deep water and shale. This panel will explore the prospects for the next game-changers and what they might look like. Which areas of technological progress offer the most promise to become game-changers for the industry? What form of impact might a game-changer have, for example, in unlocking resources, reducing costs, or changing the nature of work? Would we know a game-changer if we saw one? Could a series of incremental gains over time also constitute a game-changer? Is the industry structured to unlock innovations? Which types of players and partnerships would hold the key?