A focus on Operational Excellence
As the oil & gas industry emerges from the downturn, EY highlights an emphasis on Operational Excellence and digital technology adoption.
Oil & Gas Financial Journal: Are there any trends developing as the industry adjusts coming out of this downturn? Can you paint a picture of the short-term?
EY: It’s really focusing on operational excellence. That’s a great catch-phrase, but what does that mean? It means being disciplined about your processes, your management and supply chain, your vendor management. It’s all the above-ground process, that are so critical. There are quite a few studies that talk about the oil and gas industry being one of the last adopters of digital technology and really taking advantage of that high-end processing technology. I think accelerating adoption of digital technology is a must do.