What happened when six oil giants decided to pull together to develop an oil field that had been inaccessible for 20 years?
At a glance
Industry: Oil & Gas
Challenge: Create effective first-time alliance of industry giants who were also competitors
Objective: On-time, on-budget delivery of first oil
JMW Approach: Consulting, leadership development programs, high-reaching results
Results: First oil delivered six months early, 22% under budget
Creating a performance turnaround
The difficult economic climate forced a major oil company to rethink its North Sea exploration business. As part of its transformation, the company needed to find a way to reverse its development costs from the highest in the industry to the point where its mid-size holdings could be made economical.
Innovative ways of working to achieve extraordinary goals
A strategic alliance of six major companies was formed to develop the field. JMW worked to build a foundation for achieving the extraordinary and consulted and trained the alliance board and project teams to set and achieve levels of results previously thought unattainable.
Through leadership development programs and on-site consulting support, JMW worked with the alliance teams and stakeholders to achieve early wins, resolve breakdowns with velocity and create new pathways to fulfill their aspirations.
Dramatic results produce industry benchmarks
The alliance succeeded in operating as a single organization, delivering first oil six months early at a capital spend 22% below sanction. This work also set the stage for helping the company to achieve similar breakthroughs in other divisions and successfully establishing an enterprise-wide culture of high performance.
Working with JMW, an alliance of six major oil companies developed a mid-size oil field that had been inaccessible for 20 years. First oil was delivered six months early at a capital spend 22% below budget.