Rapid innovation maturity assessment for oil and gas
Innovation in oil and gas
Following more than 12 months of cost management measures, innovation is now coming to the forefront for oil and gas companies in Canada.
In the face of lower-for-longer oil prices and fewer, easier cost management opportunities available to harvest, organizations now need to shift their attention to consider more structural changes to their businesses and the way they operate. Most Canadian oil and gas companies have already cut headcount, reprioritized capital and managed expenses. But few have embraced the necessary longer-term perspective on strategic and structural change.
Looking ahead, high-performing oil and gas organizations will need to develop their innovation strategy and portfolio as a source of more structural and sustainable improvement and cost reduction if they are to survive or even thrive in this environment.
EY’s six week rapid assessment allows oil and gas executives to quickly understand their innovation current state against leading practices and to identify potential new areas to drive more structural improvements in the future.