Architecting an Upstream Oil and Gas Enterprise for Innovation
The oil and gas industry’s rapidly evolving and dynamic nature has historically led to significant volatility within the energy sector. Upstream oil and gas enterprises, in particular, need to catch up in adapting and adjusting their corporate strategies to embrace cleaner and more sustainable pract...
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| Format: | Thesis |
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Massachusetts Institute of Technology
2023
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| Online Access: | https://hdl.handle.net/1721.1/152750 https://orcid.org/0009-0002-9418-1457 |
| Summary: | The oil and gas industry’s rapidly evolving and dynamic nature has historically led to significant volatility within the energy sector. Upstream oil and gas enterprises, in particular, need to catch up in adapting and adjusting their corporate strategies to embrace cleaner and more sustainable practices in oil and gas production. This highlights the critical need for enterprise transformation that fosters innovation and positions companies as leaders in the industry.
Creating an innovative upstream oil and gas enterprise requires a fundamental shift in the fabric that has traditionally defined success in the industry. Unfortunately, the conventional work processes and procedures have proven to be ill-suited for adapting to the changing times and evolving societal pressures. The industry’s heavy reliance on external parties and their prescribed processes further contributes to the rigidity and impedes a focus on innovation.
To address these challenges, the ARIES methodology includes insights gathered from interviews to lay the groundwork for designing a flexible enterprise promoting collaboration and innovation. Various evaluative strategies assessed different enterprise concepts and attributes, including applying Multi-Attribute Utility, Tradespace analysis, the Pugh Matrix, and Weighted SWOT analysis.
By embracing a more flexible and innovative approach, upstream oil and gas enterprises can break free from the constraints of traditional practices and position themselves at the forefront of industry transformation. This shift will enable them to navigate the ever changing landscape more effectively and contribute to sustainable and responsible oil andgas production in alignment with societal and environmental expectations. |
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