A holistic five-year exploration program was initiated in 2018. This program entails the following: 3D seismic data acquisition, Legacy data reviews (driver of exploration plans), Drilling of exploration wells.
Following slow growth in the last couple of years, higher oil prices have triggered an explosion in upstream merger and acquisition activity that is fueling the expectation for increased returns.
There is an oil and gas transformation underway. Whether it is investing in renewable gas, digitizing operations or mastering technologies like AI and IoT, leaders today must reinvent their DNA to transform, grow and adapt to succeed.
That's where we come in. With more than 30 years of energy industry experience, our consultants enable oil and gas companies to turn digital disruptions into solutions for competitive advantage.
Despite riding waves of disruption, the oil and gas exploration and production industry has not delivered the returns that that equity markets demand. With fluctuating prices and differing pressures across the world, three actions should be considered to deliver on the promise of a healthy future for upstream businesses. Speed and agility are essential to delivering on the digital agenda, but although experimentation is positive.