EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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EY helps oil and gas companies deliver financial, operational and sustainable outcomes across the value chain while building the future of energy.
From downhole to the pump and everywhere in between — oil and gas companies need to maximize operations, amplify capital, manage emissions and build for tomorrow. And they must do so while facing supply, demand, geopolitical and pricing shifts as well as evolving customer, stakeholder and shareholder expectations.
When navigating this complex landscape, differentiated skills matters. Our teams have experience working in the field as geologists and engineers; with the business evaluating and executing transactions; and as technologists and data scientists implementing leading-edge technologies to drive results. We work with oil and gas companies to understand their problems, their requirements, and ultimately implement solutions that help create value without disruption.
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Capabilities
We help business units enhance efficiency, safety, production and value
The problem
An oil and gas company needs to increase asset profitability and productivity across the full value chain in all stages of exploration, production, processing and distribution, and mitigate costs linked to end-to-end supply chain, unexpected downtime and unplanned maintenance.
The solution
We help organizations implement data-informed, technology-enabled and people-centric business transformation solutions to drive business outcomes. We use cloud computing, analytics, modeling, artificial intelligence (AI) and machine learning to optimize production with real-time data and integrate surface and subsurface approaches that manage volume expectations and ultimate recovery.Â
- We define and implement holistic transformation strategies.
- We connect data sources, automate processes and integrate technology to enable operations centers.
- We use AI to predict and prevent delays and downtime.
- We put actionable, timely data and insights into the hands of frontline engineers, operators and leaders.
How EY can help
Digital operations services in Oil and gas
Our team can help speed up your digital transformation to boost production, cut costs and achieve sustainability.
Contacts
EY Global Energy & Resources Digital Operations Leader
EY Americas Oil & Gas Digital Operations Leader
Business and digital transformation within oil and gas operations can unlock more than US$2.5 trillion in value over the next decade.
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How data analytics can strengthen supply chain performance
EY Supply Chain SmartMaps™ helped a global energy company leverage buying power, strengthen processes, reduce costs and optimize inventory. Learn more.
Can oil and gas companies future-proof land services?
Why oil and gas should invest in new operating models to streamline land services, increase competitiveness and enhance their workforce.
Transforming material master data from liability to asset
How can you transform your data into a valuable, digitized asset? Learn more in this case study.
Capabilities
We work from strategy to execution to capture returns on capital investments
The problem
An integrated energy company aims to increase oil and gas production, but also to demonstrate its commitment to decarbonization and the latest energy technologies.
The solution
We help companies move quickly to refine their portfolio strategy, perform market entry strategy assessments, conduct diligence and valuation, and execute integration and separation to capture long-term value.Â
- We enable investments in primary portfolios as well as new technologies such as carbon capture and hydrogen.
- We take an investor mindset in allocating capital.
- We leverage financing, structuring and regulatory nuances to enable competitive investment.
- We design and execute the integration and separation of the deal to realize synergies and transform the business.
How EY can help
Energy and resources strategy consulting
EY-Parthenon energy strategy consulting teams help C-suites drive value-creation.
Contacts
Strategy and Transactions Energy Partner
EY Americas Strategy and Transactions Oil & Gas and Chemicals Leader
Ultimately, the industry wants to match the best operator with each asset, to drive performance across operations, and optimize capital and carbon management.
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Macro Bites: Developing an effective energy transition strategyÂ
EY-Parthenon Chief Economist Gregory Daco and EY Americas Strategy and Transactions Energy & Resources Leader Stephanie Chesnick discuss the distinct economic challenges in the energy sector.
Energy M&A Quick Takes: How companies are transforming deal structures
We’re seeing an uptick in complex deals—which require more due diligence—and increased interest in renewable energy acquisitions.
Watch: Energy industry leading in M&A deals
Stephanie Chesnick and Bruce On discuss what is bringing new investors to the energy sector, and how companies can capitalize on the opportunities we're seeing in the energy industry.
Capabilities
We help unlock value by connecting sustainability data to decision-making
The problem
An international oil and gas company needs to create a formal system that accurately and transparently captures and stores emissions, water and waste data. Currently, that data is spread across multiple geographies and business functions and tracked using labor-intensive processes.
The solution
We help companies identify, track and mitigate sustainability-related data across the value chain. Not only is this beneficial for compliance, but it also enables safer, more sustainable operations and the development of new low-carbon businesses.
- We learn the current data landscape: technology, systems, platforms, processes and people.
- We deploy work streams to optimize and connect siloed stakeholders, functions, data and systems.
- We implement technology and processes that enable comprehensive, trusted and transparent tracking.Â
- We identify opportunities to use tracked data for better strategic and operational decision-making.
How EY can help
Decarbonization transformation services
Decarbonize your business faster by focusing on actions that really matter, simplifying complex challenges, and prioritizing value creation.
Contacts
EY Americas Digital Sustainability Leader
EY Americas Technology Leader for Sustainability
The convergence of carbon data, operational data and production data is essential to create true understanding and make progress toward a decarbonized world.
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How can energy companies create carbon transparency?
Accurate emissions data capture is crucial for building carbon transparency and winning stakeholders’ trust. A digital carbon ledger might help. Read more about it here.
How a digital ledger helped one plastics company champion circularity
Building trust and transparency with customers starts with an irrefutable sustainability certificate. Learn more
How the energy sector can extract value from emissions data
Fueled by human collaboration and the latest technology, we helped one company find opportunity in sustainability. Learn more in this case study.
Capabilities
We help turn energy-transition investments from ideas into action
The problem
A company is evaluating various low-carbon- and decarbonization-related investments but needs to identify whether they make sense, and, if so, prioritize the best assets and structure investments to capitalize on the Inflation Reduction Act as well as any local incentives.
The solution
We help companies across industries engage in the rapidly evolving energy transition landscape.Â
- We assist in feasibility analysis including tax and economic modeling to help you properly evaluate new investments.
- We help improve financing and tax structures, including a focus on credits and incentives across global, state, local and federal levels.
- We work in deal execution and implementation.
- We deploy technology to assist in tax compliance and reporting.
How EY can help
Sustainability tax services
With urgent environmental and social action needed from business, the tax function has never had a more critical role in accelerating sustainability strategy and building long-term value.
Contacts
EY Global Energy & Resources Tax Leader; EY Americas Energy Transition and Renewable Energy Leader
EY Americas Strategy and Transactions Energy & Resources Leader
As the industry's aspiration to decarbonize pairs with economic opportunity, we'll see expedited progress in the energy transition.
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How an industry newcomer is helping decarbonize the refining industry
An EY team helped a private company make their make CCS commercialization plans a reality. Learn how in this case study.
Clarifying the EV equation from abstraction into action
A telco has one of the biggest corporate fleets in the US. Would the math support an EV transition or were the variables too complex? EY US showed the way.
As energy evolves, how to commercialize decarbonization
In this webcast, panelists discuss how companies can unleash potential of the energy transition through the Inflation Reduction Act, technology, data and M&A.