23 March - 1 April 2021

Progressive Collaboration and Innovative Solutions: Shaping the Future of Energy

Host Organisation


Co-Host Organisations

Mubadala Petroleum     Schlumberger

Panel Session 1: Energy Transition: Balancing Accessibility, Sustainability and Affordability


Panel Session 1: Energy Transition: Balancing Accessibility, Sustainability and Affordability

Thursday, 25 March

2020 was a year of extraordinary challenge for the international oil and gas industry; operational and business continuity challenges responding to the COVID-19 pandemic; extreme commercial pressures on cash flows and profitability and accelerated energy transition moves.  During the crisis, investors have also continued to reward greener companies while showing less interest in carbon heavy incumbents.

Despite these challenges, it is encouraging to see many positive aspects of the responses and the shifts that are underway:

  • Lower costs – sustainable reductions in opex, improved reliability in HSE and operations
  • New developments – moving ahead with significantly reduced Capex where simplification, re-use and applications of new technologies underpin significantly reduced project break-even positions
  • The shift to green is driving innovation and new types of commercial collaboration through new emerging value chains

The emerging areas of hydrogen, renewable power and carbon have important characteristics to unlock their potential:

  • Mobilisation rather than purely deployment of capital with wider use of subsidies and venturing capabilities 
  • Collaboration with customers from the outset to create market and demand
  • Flexible and expandable definition of value chains, types of partners and project concepts
  • Speed - moving at speed and with agility to define a Minimum Viable Product (MVP) and onto industrial scale
  • Value realisation - achieved using equity markets and/or much greater reporting and disclosure transparency to address social responsibility 

The challenge for 2021+ will be implement bold but affordable moves given continued commodity price volatility - leveraging engineering skills, project delivery, operational excellence but with an increased emphasis on speed, flexibility and technology innovation.  

The panel will debate these key questions and issues above as today’s business leaders think on when and how to pivot their business portfolios whilst still driving cash flow from the traditional core.


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