Global Upstream Operations Benchmark

What we do

Energy Insights' Global Upstream Operations Benchmark will help you to identify and capture your highest value opportunities. Our extensive proprietary database includes more than 25 years of operations performance insights across a broad set of global upstream oil and gas assets, covering operating expenditures, production efficiency, deferments, safety, and emissions performance.
Our upstream benchmark provides the fact base and insights to help operators reach their full potential by addressing several critical questions:

What are peer targets for 2023 and where is the industry heading?
How do we compare against our peers, and where are the residual sources of value in cost and production?
How do our staffing levels and organization compare to our peers, and how will this evolve going forward?
How are we performing against decarbonization targets, and what are best practices in the industry?

Our approach

Quantify performance

We compare core performance across key categories and metrics.
We adjust for asset size, complexity, technology, and maturity using the McKinsey Cost Intensity (MCI) index and for energy efficiency using the McKinsey Decarbonization Index (MDI).

Identify opportunities

We identify gap to potential across critical operational areas to improve bottom-line performance.
Opportunity sizing based on trends and rankings to prioritize actions

Tailor recommendations

We present a management report and presentation highlighting:
- core areas of strength
- prioritized improvement gaps
- specific recommendations

Our Benchmark

Our Global Upstream Operations Benchmark delivers quantitative metrics around 5 core areas, with the option to add modular deep dives for a more granular understanding of your performance relative to peers.

Our coverage

Global reach

Our database covers more than 600 offshore assets and conventional onshore fields spanning more than 40 countries in the Americas, Africa, Asia– Pacific, Europe, and the Middle East, covering $35 billion in operating expenditure, 23 million barrels of oil equivalent per day (Mmboe/d) of production, and 55 metric tons (MT) of CO2 emissions. Offshore coverage includes Brazil, Gulf of Mexico, Malaysia, the North Sea, Trinidad, West Africa, and across the Middle East.

Comprehensive peer groups

Asset types span all ages and complexity across the prolific producing basins, offshore and onshore. Offshore asset types range from fixed platforms to floaters, high pressure high temperature (HPHT) to heavy oil, start-up to late life. Operators include international and national oil companies, and a range of independents.

Examples of our work

$3 billion+ improvements identified across the portfolio of a global major oil and gas producer

Our core benchmark found opportunities that could deliver more than 250 kboe/d across the global portfolio of a major upstream operator while reducing cost and improving HSE performance. We worked alongside the operator to focus on priority topics per region to unlock value in a targeted and programmatic way.

40 percent gap to emissions-reduction potential identified for global operator

Our benchmark highlighted the source of emissions and where reduction efforts would have the most impact. From there we established a set of recommendations and targeted levers to build a decarbonization plan for the highest-priority asset.

$200 million+ in operating cost and production efficiency improvements prioritized for a regional independent

Our benchmark helped highlight the value of opportunity within the portfolio and confirmed that a refreshed operating philosophy was required to unlock full potential.

Our impact

“We knew we wanted to achieve more with our assets but we didn't know where the right opportunities were. The Energy Insights benchmark allowed us to identify and target high-value priorities and resulted in us unlocking a 20 percent opex reduction and 12 percent production efficiency uplift over two years.”

VP Operations, regional independent

“For us, this benchmark has become a critical part of our annual cycle to identify opportunities and improve performance. It's efficient, easy to deploy, and the normalization approach ensures a set of results the team understands and can put to action.”

Asset Director, global oil and gas producer