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Gender diversity and inclusion in the oil and gas industry has been widely promoted in the last decade to advance women in leadership roles. Following this, the SPE Java Section launched an initiative to encourage and empower women in the industry. The section held a webinar in November, which was moderated by Niesharsa Triaswari from BP Indonesia. In the webinar four high-profile women discussed and shared their leadership and experience in the oil and industry: Shauna Noonan, 2020 SPE president and director of artificial lift engineering at Oxy; Evita H. Legowo, general director of Oil and Gas Government of Indonesia (2008-2012) and professor at Swiss German University; Melanie Cook, president of ExxonMobil Indonesia; and Dian Andyasuri, president of Shell Indonesia. The opening session was led by Shauna Noonan, who shared her experience and first steps in the industry when she first came to Indonesia working for Chevron.
As part of its strategic plans, Vintage Petroleum Boliviana (VPB), a wholly owned subsidiary of Occidental, has developed and implemented a social responsibility (SR) program that supports company business objectives and positively affects and adds value for all stakeholders—employees, contractors, national oil company, communities, and the environment. VPB’s SR program achieves a balance between its oil and gas exploration and production (E&P) interests and communities’ expectations and needs. The SR program carried out through an extensive engagement process has served as the model for the company’s operational excellence and resulted in alliances between VPB and the communities in the areas of influence and at large. The objective of this paper is to share the methodology, approach, and processes that VPB has implemented to improve the quality of life of society as a whole and to be a shared-value partner with the communities. This paper addresses both tangible and intangible benefits that communities have received and quality-of-life enhancements in the communities, as well as the key performance indicators used to measure performance for operational excellence, community development, and project/program evaluation.
How does an oil and gas industry association specializing in environmental and social performance adapt to a world aiming for net-zero emissions with a membership rapidly changing in response? The world of energy and mobility is experiencing unprecedented change. The response to climate change and the need for sustainable development and the economic consequences of a pandemic are leading to fluctuations in energy demand and changes in the energy mix and how oil and gas companies adapt their strategies and portfolios. As head of IPIECA, the global oil and gas industry association for advancing environmental and social performance, I have been involved in developing a new strategy to drive the work of the group over the next 4 years. We have just finalized the strategy, which includes some major steps that will answer the opening question.
Promoting gender diversity and inclusion in the oil and gas industry is the main objective of the SPE Diversity and Inclusion (D&I) Standing Committee, which was launched after this year’s SPE Annual Technical Conference and Exhibition. Previously known as the Women in Energy Committee, the expanded D&I Committee aims to leverage the existing D&I network and expand its mission, vision, and values. The D&I Committee's vision is to promote SPE’s commitment to diversity and inclusion in the industry, with a special focus on three aspects: advocacy, collaboration, and education. Under the SPE International’s guidance, SPE’s Bagdad Section has launched its section D&I committee. A joint effort with members from national and international oil companies in Iraq, the committee has one main goal: Empowering women and increasing their participation in decision-making roles.
The Future of ESG Is … Accounting? While sustainability has become a central concern of many managers, investors, and consumers, a major sticking point remains for the environmental, social and corporate governance (ESG) movement: There are still no universally adopted standards for how companies can measure and report on their sustainability performance. Instead, we have a large number of nongovernmental organizations working independently to develop standards for sustainability reporting, which is creating complexity and confusion for companies and investors. But this might be about to change, thanks to a quiet revolution in the accounting community. That revolution is being led by the IFRS Foundation, the body that oversees the work of the International Accounting Standards Board (IASB) in setting financial reporting requirements for most companies in the world, across more than 140 jurisdictions.
The upstream oil and gas industry suffered an unprecedented dual shock in 2020. Suppression of demand caused by the global Covid-19 pandemic combined with oversupply caused by competition for production market share between major suppliers across the globe. Although the world that will emerge in 2021 is hard to predict, it is very likely that it will be different from the past. It is equally likely to change much more quickly, therefore needing new ways of developing and introducing new technology-based products and services. This paper introduces the dichotomies that will emerge. In particular the industry will need to be focused in order to deliver technology on time, at the same time being flexible in response to rapid changes. It can be challenging to meet both of these apparently conflicting requirements. By exploring the principles of innovation theory from a number of perspectives, this paper offers insights and suggestions to help the industry develop the highly efficient technological solutions it will need to thrive in 2021 and beyond in the face of significant restrictions on financial and other resources. It also describes the impact of stakeholder interests, including the pressures arising from environmental, social and governance (ESG) issues, which will not go away despite the shock to the industry that 2020 brought, and suggests how these may be met while developing effective new technology. The paper uses real-world examples, including examples from other industries, to describe strategies for product and service development, and business model adjustment. It concludes with a toolbox of ideas and techniques that should be broadly applicable across the upstream industry.
As technical people working in the Montney, most of our focus has been on drilling performance, completion improvements, and overall cost reduction in all aspects. But what other trends are occurring that need to be on our radar screens? Our opening panel will be bringing many perspectives, including the funding side, the importance of ESG, consulting trends and an overview of the North American market as a whole. Exploitation design is a product of interlinked decisions on well design, completion design, well spacing and cost structure. How are Montney operators pursuing the right balance of resource recovery and profitability?
The company said its goals underscore its strong environmental, social, and governance performance as it responds to rising global energy demand. In addition, it said, the goals are aligned with the United Nation’s Sustainable Development Goals. This paper suggests that the value of environmental monitoring during seismic acquisition can extend further than compliance, suggesting that the design and application of a comprehensive environmental monitoring program can bring substantial environmental benefits and extend working relationships. When SPE’s international health, safety, and environment conference opens in April, it will bring together professionals from around the world. This gathering of professionals, on top of the technical information shared, is what makes the conference so important, said Jack Hinton, program cochair.
Working as an environmental and social performance leader in the extractive industry presents challenges in many areas. Among them is the integration of economic, environmental, and social considerations into business decision making for sustainable development. Richard Sykes, Executive Secretary of the International Petroleum Industry Environmental Conservation Association, weighs in on sustainability and social responsibility.
Many oil and gas companies have been at the forefront of the development of sustainability reporting in recent years, but expectations of greater transparency are now filtering down to mid-sized and smaller players. Investors and consumers are pressuring companies to incorporate environment, social, and governance (ESG) practices into their culture and operations. Now, ESG has gone from a nice-to-have feature to a must-have prerequisite.