Oil and gas companies are well aware of the necessity to change to remain profitable and relevant in the face of the energy transition. Many still don’t know what transformation means for their business.
The inaugural Oil and Gas Reinvention Index research shows that transformation is not enough. It is necessary to reinvent. Reinvention must be anchored within five core areas. This is evident from our research. According to our research, oil and gas companies that are most dedicated to reinvention expect to see their actions increase margins by at minimum 8% and revenue by at least 10% over the next three years.
These five dimensions are what we believe will make the industry leaders in years to come and could unlock as much as $600 billion annually in industry value.