Unlock the full value of your oil and gas assets
McKinsey experience shows that if Oil and Gas operators maximize the production efficiency of their assets, they can boost net present value by 30% and reduce lifting costs by up to 50% within a year. However, capturing the full value of oil and gas assets requires a new approach. Petroleum Asset Excellence (PAX) focuses exclusively on working with operators to sustainably unlock the maximum value of their assets.
We leverage our extensive expertise, deep industry experience, and proprietary tools tested in numerous engagements to create reliable solutions for realizing production and efficiency improvements for companies in the oil and gas industry.
years’ experience implementing operational change
fields globally spanning multiple operator types
Oil & Gas transformations since 2010
We support clients every step of the way, delivering lasting transformational change:
PAX helps organizations achieve impact across four key areas:
for a Southeast Asian oil company by implementing targeted well interventions, reducing non-productive time from 19% to 14%
on a 1st quartile European refinery by challenging storage tank maintenance practices, reducing quality giveaways and optimizing daily operations
for a national oil company through frontline process improvements, system simplifications, and cost efficiency initiatives
We offer McKinsey’s global knowledge and industry-leading tools that have been tested in thousands of transformations, as well as the most comprehensive library of reference cases and benchmarks in the industry.
PAX doesn’t just provide advice; we partner with the client from diagnosis to implementation, building capabilities, systematically transferring knowledge, and improving organizational health.
Our experts collectively have 700 years of first-hand industry experience delivering impact along the entire value chain.
We partner with our clients using a results-based model, to achieve a tailored set of outcomes.
The PAX team is composed of over 250 internal experts with deep experience and powerful track records in the world’s leading Oil and Gas operating and service companies.
Brings consulting and executive experience, helping oil and gas companies identify and deliver value through asset-development optimization and operational transformation
Advises energy companies on rapid performance transformations and operating-model redesign
Helps oil and gas clients achieve high-impact performance transformations in operations excellence, lean, capability building, facility reliability, cost optimization, well and reservoir management, and contracting and procurement