Disruptive Technologies and New Approaches

Panel moderated by Peter Bryant, Managing Partner, Clareo 

What is a challenge and an opportunity that the industry faces in the context of disruptive technology?

Ms. Elsenhans stated that climate change is unsurprisingly one of the industry’s biggest challenges. If the industry can see climate change as an opportunity for companies to become cleaner, and differentiate from the pack, they may find success.

Mr. Faramawy is optimistic about the productivity and growing ambition within the industry, but also sees this as a challenge because these expectations can be difficult to manage. He says talent retention is of utmost importance as there is rapidly growing demand for the people who have the potential to see and implement solutions across all industries.

Ms. Moen sees technology as a tool that enables huge opportunities. She said one of the biggest challenges leaders face is the willingness change their perceptions, and to see new realities that become available when you have the right talent. Many companies look to historical data as an indicator of what they should do next but, with the transition that is currently happening, she says this approach no longer makes sense.

Mr. Howell echoed Moen’s thoughts on the possibility of growth opportunities from technology and innovation, but said it isn’t enough to just put technology into place. What is most important is to then evaluate the asset holistically to really see the effect this innovation has had.

The panel discussed the great importance of collaboration as it related to climate change. They agreed that, while there is competition among companies, they must also find a way to work together to solve this problem. The point was made that collaboration should extend beyond the oil and gas industry. For example, the transportation industry can provide a great deal of insight into some of the same problems the oil and gas industry faces. Howell pointed out that, even within his company, they have the unique opportunity to look into both upstream and downstream, and learn from each other.