Strategies for success

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Courtesy of Energy Institute (EI)

Petroleum Review recently asked Chris Finlayson (right), Chief Executive, BG Group, about the company’s E&P strategy and how it is tackling the skills gap in the industry. He will be addressing these and other issues as the IP Week Dinner speaker on 19 February 2014.

Q. BG Group has an excellent track record in exploration, but will these successes be repeated?

A. Yes, I believe they will, for three reasons. The first is our wide geological and technical expertise which we can apply globally. We have had great success finding and developing carbonate fields. We have exceptional skills in tertiary deltas and high-pressure and high-temperature prospects, as well as in-depth knowledge and experience with unconventional resources.

Our people and culture is the second reason. Using technology is clearly critical, but the greatest differentiator is people. Our 300 geoscientists are our most important asset. Our flat organisation allows them to network, exchange ideas andwork collaboratively.Our international graduate programme provides a key competitive advantage, with a retention rate of around 80%.

The third reason is our simple, consistent and robust screening processes. Our lean and nimble operational structure – although we are a top 10 FTSE 100 company with around 5,700 people employed globally – enables us to assess, communicate and capture opportunities identified by our team swiftly and efficiently.

Q. The industry is very much focused on improving its exploration activities, and in particular developing new basins, in the drive to bring new reserves to market. Could you outline where BG Group is currently focusing its attentions and why?

A. We review more than 100 new exploration opportunities every year. First we focus on developing our current positions around our existing hubs, allowing us to get the most value of the infrastructure, knowledge and relationships we already have in place. Secondly, we will continue to seek large frontier acreage in new basins where we can find giant oil and gas reserves and develop these quickly.

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