Riverblake works alongside oil and gas companies, at all levels of the organization, to evaluate the risks and opportunities inherent in the industry and to implement solutions that produce enduring results for our clients.
One of the keys to success in the industry is identifying ongoing energy demand and source trends. In our view, companies will be better positioned to compete in the new industry landscape if they consider the following three key trends:
The shift to new frontiers demands innovation and human capital investment. Declining reserves and increased consumption, regulation changes, economic power and resource allocation shifts, new geological challenges, regional political instability and environmental concerns have pushed companies to explore geographical frontiers and focus long-term technology development on fossil-fuel alternatives, including nuclear, battery, and wind and water power.
Oil and gas companies’ main focus should be attracting innovative leadership and talent. The companies that emerge as leaders will be those that recruit, develop and direct qualified scientists and engineers to achieve the technological developments needed to be competitive in the evolving landscape.
Governments that embrace market solutions will ensure that their nations are more competitive.Over time, we can expect winners and losers, with varying effects on the pace of countries' development. It’s likely that each potential energy source will be necessary at some stage. Governments that stay open to all energy supply sources put those sources in a better position to develop. They must also monitor scientifically and economically justified environmental developments, maintain stable commercial and fiscal environments in the energy sector, and prioritize the education of young people in the required disciplines.
Finding and producing petroleum matters, but leaders must realize maximum value of existing reserves. The petroleum industry will face competition from alternative–and potentially subsidized–energy sources. The task is not just to find and produce petroleum more effectively. As alternatives develop, the industry must ensure that every petroleum molecule adds the maximum economic value.