Company commitments to reduce emissions or emissions intensities are becoming increasingly common. Regardless of which path the world follows, climate impacts will become more visible and severe over the coming years, increasing the pressure on all elements of society to find solutions.

These solutions cannot be found within today’s oil and gas paradigm.

In the absence of any further investment, production from existing fields will decline at a rate of 8% per year. This is larger than any plausible fall in global demand, leaving a hole in the world’s energy market. As such, investing in existing and new fields remains a core part of the picture.

As overall investment falls back and markets become increasingly competitive, only those with low-cost resources and tight control of costs and environmental performance would be able to benefit. Ensuring your assets meet new expectations for efficiency, safety, and sustainability will be the driving force for operational success.