Survey Results: Adaptation or remission : what next for E&P?

Written by
Katya (Ekaterina) Casey

The purpose of the survey is to collect information across different companies and geographies and help the industry in recovery after the crisis. There are many publications about how lost we became and the recognition that people want to return to a "new normal." There is an understanding that this "new normal" should reflect not only our new hygiene practices but also help us to reconnect with our lives, families, and friends, make our work more meaningful, and help us to focus on things that are important in our lives.

Our surveys have targeted broad demographics from people with less than 5 years to over 20 years of experience with the industry. The purpose of our surveys is to collect information across different companies and geographies and help the industry in recovery after the crisis. There are many publications about how lost we became and the recognition that people want to return to a "new normal." There is a recognition that this "new normal" should reflect not only our new hygiene practices but also help us to reconnect with our lives, families, and friends, make our work more meaningful, and help us to focus on things that are important in our lives. 

We've asked people to share their thoughts in three categories:

1- How E&P organizations manage changes...

2- Answer a few questions about the individual skills and relevance post-COVID-19 lock-downs, and tell us

3- How the remote working experience impacts their future work.

There were few surprises in the results: most active participants in the survey were professionals with more than 20 years of experience in the industry. Only 15% of respondents had less than 10 years of experience. Respondents think that E&P organizations need to come out of the crisis, doing more exploration. 

46% want to return to the similar levels of exploration of more


To build the future, people are coming out of remote working wanting more collaboration with their colleagues and planning for working in smaller and more integrated dynamic teams.


People want to understand where they fit in the business value delivery and want to have a more holistic view of the business. They value inter-disciplinary skills the most.


Only 20% of the participants have the same priorities and goals post-crisis. Most have their priorities modified or significantly different. 

More than 50% are planning for some transition. 21% want to transition out of oil and gas, and 17% out of corporate oil and gas roles into entrepreneurial. 


Respondents (almost 70% of them have more than 15 years of experience) are also looking for more autonomy at work, hoping that "working from home" did prove them productive and capable of more independent working. 

The most surprising result of the survey was an opinion on corporate obstacles to change. It appears that respondents believe in a broad corporate resistance to change rooted in established internal processes approved by executives and facilitated by procurement. 


75% of respondents were from the United States. We are not closing this survey, so please share it with your international colleagues to get their opinions, and we publish new results if there is a significant difference in the opinions. 

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The survey results lead us to believe that anonymous conversations are needed to take an objective look at the status of the industry and to plan for opportunities to recover. 

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Domains
Exploration Strategy
Exploration
Corporate Strategy
Human Capital
Geography
Global