Accenture latest report, Fueling the Energy Future: Reinventing oil and gas for a new purpose, is comprehensive as it is hyper relevant.

That’s because the case for change has never been more compelling. On the supply side, companies are dealing with abundant resources and diverse energy sources. Add to the mix: Investors are placing constraints on which resource bases to develop.

On the demand side, operators need to shift from a commodity-centric market to “keeping the consumer at the center.” This means aligning offerings to environmental concerns and energy efficiency, while responding to ongoing demand for oil and natural gas.

To stay relevant and retain their license to operate, oil and gas companies need strategic options to retool the business. The focus is on two key dimensions:

Where to play?

  • Untapped value pools in the existing business
  • New value pools in mobility, materials, and power/utilities

How to win?

  • Rethink operating models to be agile
  • Embrace new technologies and workforce strategies

Retooling the business will require strategic operating models which are agile, to allow flexibility, adaptability, and which can be enhanced by machines.  CLICK TO ENLARGE FIGURE 1

Fueling the Energy Future showcases Accenture Research and builds the case for aligning to stakeholder and investor concerns:

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56%

Rise in disruption for the energy sector (compared to 37% Life Sciences and 22% Automotive)1

$1,284bn

Annual spends on energy efficiency between 2025 and 2040 (compared to $236bn in 2017)2

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Only 33%

Of oil and gas companies are using partnerships to support new business models (far fewer than in other industries)3

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Reach out to me to discuss how “wait and see” is no longer an option for oil and gas companies.


Sources:
1 https://accntu.re/34a3rcD
2 International Energy Agency
3 Accenture Research

Andrew Smart

Senior Managing Director – Strategy & Consulting, Energy Lead, Europe

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