Senior Partner & Managing Director at The Boston Consulting Group | BCG Energy Practice | Executive Committee Member | Net Zero | Decarbonization | Value Creation | AI & Digital Technologies | Father To Twin Boys
Maximizing output from existing oil and gas fields could be the most effective strategy for the industry in the near to medium term to supply global energy affordably while minimizing carbon emissions. Smarter Money: Investing in production enhancement yields 3-4 times greater returns per dollar than conventional cost-cutting approaches. It is also more cost-efficient than new exploration and can lower carbon intensity by 10%, while reducing carbon tax liabilities by up to 52%. Companies that prioritize production optimization gain a strategic advantage, enhancing profitability, efficiency, and sustainability. Read more about how companies can unlock this opportunity in our latest article. https://lnkd.in/gMWinEXY
Oil and Gas Analyst || Petroleum/ Reservoir Engineer ||WoodMac || ExxonMobil
1wProduction optimization is key to maximizing field value, but legacy fields often lack critical data. Gathering and leveraging data is crucial to drive profitability. Reducing opex, particularly manpower, is often the most choosen approach. For constrained legacy fields, opex reduction may be a strategic starting point.