OLEF 2021

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Hybrid Events: 16 Questions to Ask Before You PlanThursday March 18, 2021 | 0.900 am - 03.00 pm


Theme: Operational Excellence and Portfolio Optimization, way forward for the Oil and Gas Industry post covid-19
Synopsis

The dual shocks of the Covid-19 pandemic and all-time low oil price that the Oil and Gas Industry suffered in the year 2020 were severe and extremely challenging, thus triggering the need for a more holistic response. For this industry to survive and remain relevant in the future, there is a strong need to start doing things differently in our operations. The adoption of technological solutions like digital transformation may be useful in addressing issues of low oil prices, environmental impact and competition from advancements in green energy sources (acceleration in alternative energy technologies) as well as the Covid-19 pandemic. These issues need to be addressed to enable the sustainability of the oil and gas industry. This lecture series seeks to highlight the core areas of Digital Transformation, Cost Reduction, Climate Change and Public Health that must be addressed to enable the oil and gas industry to attain an overall Operational Excellence with multiple opportunities for Portfolio Optimization. This ensures the industry thrives in our ever-evolving business environments particularly post the covid-19 pandemic.

The 2021 Oloibiri Lecture and Energy Forum will discuss the Operational Excellence and Portfolio Optimization, way forward for the Oil and Gas Industry post covid-19


The theme will be discussed along with the following perspectives:
  • Industry – Government – Academia partnership: - articulating the individual roles each stakeholder is required to play as well as establishing a strategic collaboration and partnership that enables industry-wide operational excellence and portfolio optimization
  • Developing Competencies in Regulation: - Assuring safety & sustainability and reducing the overall costs of doing business through competence in regulation
  • Adjusting Operational Models to reduce Cost and Capture Value: Re-evaluating operational strategies such that short term cost improvements are balanced with long term change and value realization.
  • Adapting the workforce to digitalization transformations: -Developing the required systems and skills to advance digitalization of the energy industry
  • Environmental, Social and Governance (ESG) Dynamics and Industry Projects Financing: the interplay of environmental issues like climate change and resource scarcity as well as other social and governance issues in driving operational excellence. Also pertinent is the transforming conditions around Project funding.
  • Local technology development and research commercialization: - Developing pathways for home-grown innovation and commercialization of research.
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