Aligning a strategic change to support sustaining production in late life assets in a low oil price market
Undergoing transformation within late life assets, BG Group needed a cohesive strategy for change management across its executive team, regional asset VPs, and Group experts.
With an agile approach that met the distinct needs of different stakeholders, Concentric was tasked to develop a program of workshops that would drive innovation and develop a changed Optimal Operating Model.
A phased change process achieving ownership and alignment
In September 2014, an initial workshop set out the case for change and the need for an Optimal Operating Model. Concentric created a valuable space and process for parties to share operational and production statistics, painting a picture of the options while considering the risks along the path to change.
A wider variety of different perspectives were brought together to explore different late life strategy options, from outsourcing to governance models and functional strategies. Each stakeholder could share their current thinking, success factors, enablers, and considerations on asset management companies.
This innovative approach allowed the team to establish a simplified, fit-for-purpose Operating Model with associated cost reduction. This culminated in a series of roadmaps for change which was owned by executives, stakeholder’s and most importantly the delivery team in-line with the operational efficiency strategy.
A vision for change – and a strategy to get there
Following both phases, working groups with key support functions established timelines and reporting responsibilities to deliver region-specific Late Life Optimal Operating Models.
Understanding the need for change, the strategy for change, and the risks, Concentric’s workshops resulted in:
International Oil Company