The Future of Oil & Gas
Innovation – Commercialization – Productivity
Climate change, the Paris Agreement, and the resulting global transition to a low-carbon economy represent the greatest long-term challenges facing the oil and gas industry today. In the immediate, important issues relating to low prices, productivity and consumer risk also pose a serious threat.
In order to sustain themselves in this new reality and remain reliable suppliers of energy, Canadian oil and gas companies need to be at the forefront of change with progressive thinking and the integration of serial innovation and sustainability at the core of their strategies. This is essential in order to turn the perceived costs of these challenges into real opportunities.
Canada’s oil and gas industry must navigate this transition by leveraging its expertise and highly skilled workforce, accelerating technological innovation, speeding up commercialization, restructuring systems and operations for sustained productivity, and innovating pro-actively across the board. By doing so successfully, the industry can reinvent itself and emerge as a global energy leader in the new low-carbon economy.
A) Expert Panels
The day’s 3 main panels will each focus on a transition challenge.
1) The Innovation Challenge: Culture and Skills
- How can we instill a stronger culture of serial innovation within Canada’s oil and gas company practices, strategies and DNA?
- How can we increase the availability of skills needed to drive consistent and revolutionary innovation
- How can we change our mindset towards risk and failure?
2) The Commercialization Challenge: Acceleration and Best practices
- How can we accelerate the path to commercialization for Canadian oil and gas innovation?
- How can we engage customers earlier in order to rapidly get companies into the profit phase?
- What means are at our disposal – and which are those that work elsewhere – that we must consider to support and fast-track commercialization?
- What opportunities are available for Canadian innovators to export internationally?
3) The Productivity Challenge: Work intensity and Op/Org Change
- Beyond short-term cost-cutting measures, what can we do to generate and maintain a higher level of productivity?
- How can we address what some call the “Canadian Productivity Tax” and the lower intensity of our workforce compared to those of other countries?
- How can we increase the speed at which we integrate productivity-boosting technologies and best practices within our operations and organizations?
B) Focused Breakouts
The sub-themes to be analyzed in breakout sessions are currently being finalized with our Advisory Board. The following topics are among those identified as the most important to be covered.
- GHG Reduction
- IT: IoT and AI
- “Beyond Combustion” Value Addition
- New Areas and Models of Collaboration
- Climate Risk and Disclosure
- Customer Risk
- Educating Tomorrow’s Innovators
A recommendation piece will be produced to highlight the event’s key insights, opinions, conclusions and recommended action points for both government and industry. The piece will be produced by a respected expert organization in collaboration with the project’s partners and the resulting document will be distributed to the federal and provincial governments, key industry groups, all event participants and the media.