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- Michael Hatfield
The energy transition places expectations on oil companies to evolve rapidly, given competing and aligned demands to reduce emissions, enhance production, and find uses for exhausted fields. These forces prompt companies to reimagine portfolios as future assets. What contributions might technology and innovation make toward such advances? The broadening energy value chain leaves little room for isolated oil & gas assets, which must now be considered part of an energy ecosystem including hydrogen; carbon capture, utilization, and storage (CCUS); and LNG. What are the integration and optimization pathways, and where can technology contribute? The future requires more integrated, transparent supply chains driving optimization. What part will technology play in a dynamic and agile supply chain? While upstream has been effective at re-tasking staff to meet new challenges, with technology rapidly evolving and disruptive competition emerging, new skill sets are needed to deliver the reimagined upstream. Will technology collaboration become increasingly important and what does this mean for competitive differentiation?