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performance benchmarking

Performance Benchmarking

Capture your true value potential

By combining our global databases of operational and organizational data with industry-proven diagnostic tools, we are able to go further than traditional benchmarking and opportunity sizing. Our benchmarking suite provides a solution for modeling cost, organization, and production efficiency for a wide range of asset types and operating environments, identifying your gap to top performance and outlining a clear, achievable path to improvement.

Our Performance Improvement tools


Operational-expense (opex) and production efficiency benchmark for producing onshore and offshore exploration and production (E&P) assets

Emissions and energy efficiency

Baseline portfolio emissions performance and establish targets, drawing on proprietary operational and emission data for global oil and gas assets

Wells and reservoir

“Sizing the prize” and identifying enablers to improve well performance, focusing on intervention impact and efficiency


Aviation, marine supply vessels, and supply bases with insights into “man moves” and costs per ton

Maintenance and reliability

Quantitative analysis of equipment reliability, maintenance hours, and cost and delivery


Absolute and composition comparison of upstream technical and support functions to subcategory levels

Start-up assets

Forecast of opex, production performance, and staffing requirements based on peer-group delivery and experience


Decommissioning cost and project benchmark, incorporating asset cost, liability, safety, and workforce composition and execution practices

Drilling and completions

Focus on the performance of individual rigs against global peers on uptime, cost, staffing levels, health, safety, and the environment, and the quality of their core operational approaches


Unconventional resource planning benchmark covering drilling and completions cost and efficiency, as well as water management

Fuel retail

Earnings before interest, taxes, depreciation, and amortization (EBITDA) and sales-model-based assessment of clusters and archetypes (location, presence, pumps) with comparisons across customer management, commercial activity, and digitalization

LNG operations

Covers 40 key “measures that matter,” including safety, production efficiency, opex, capital expenditures, and organization for  liquefied natural gas (LNG) assets 

Case Examples

$3B+ operating costs and production improvements identified

Through a regional, multiclient operations benchmark, we advanced from data collection through to results, supporting a rapid transition from benchmark into action in 14 weeks:

  • Shared results and recommendations with management and frontline asset teams
  • Facilitated peer-to-peer cross learning with site visits and targeted learning events
  • Conducted a concluding exercise with industry best-practice workshop, sharing presentations combining operator and industry-expert presentations

$1.2B+ improvement potential identified

Through a global production-ops benchmark, we assessed production cost and efficiency for all offshore-operated assets across a major company's portfolio:

  • Identified 100-plus specific recommendations and improvement levers across the portfolio at the asset level
  • Integrated targets and asset recommendations into an improvement program

Performance improvement by the numbers


production installations with submitted data across 40+countries


unique operators representing 100+ global business units

$33 billion+

annual opex


production data for 22+ million barrels of oil equivalent per day (mmboe/d) operated

10 million+

hours of maintenance activity

7 million+

tons of cargo shipped


End-to-end benchmarking

Spanning corporate-level metrics to frontline operations

Our end-to-end benchmarks span onshore- and offshore-production operations, as well as capital projects and LNG. We use bottom-up proprietary data collected from operators of all types, including global majors and independents, single-asset operators, and national oil companies.

Normalizing methodology

Adjusting for differences in asset geography, type, size, and technology

We adjust for asset size, complexity, technology, location, and maturity using our McKinsey Cost Intensity Index (MCI). For more than 15 years, this has enabled clients to compare performance by using basic structural inputs that normalize global assets irrespective of development type. Today, clients can subscribe to our MCI web tool to conduct their own “what if” scenarios to enhance internal initiatives.

McKinsey’s global experts

Leveraging McKinsey's 20-year track record to go further than traditional benchmarking

By combining our deep industry expertise with McKinsey's global databases and 20 years of E&P performance insights, we help E&P operators, oilfield-service companies, investors, and governments define and capture their opportunity landscape.

Related Insight


Toward a net-zero future: Decarbonizing upstream oil and gas operations

– To operate well is to operate responsibly—but more must be done on sustainable design and balanced portfolios to achieve a net-zero future.

Partner spotlight

Petroleum Asset Excellence

We help clients unlock the full value of their oil and gas assets in a sustainable way using a combination of deep industry expertise and reliable, tested solutions.

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