Current oil market conditions, in addition to regulatory changes, have driven companies to look at ways to become more efficient while being effective in how they manage their business—it is essential for survival. It translates into reducing operating costs, increasing capital efficiency, and increasing revenue while optimizing operational risks—that is how to attain Operational Excellence. Operational Excellence also lays the groundwork to develop a roadmap for the business and prepare the business for the future. We will discuss Operational Excellence fundamentals, domains, and areas of improvement that businesses have employed to sustainably achieve competitive results.
One component is how companies manage their capital projects funds. The current challenge is to achieve Return on Capital Employed (ROCE). ROCE has steadily declined since 2011—before the oil downturn. What are companies doing to optimize their ROCE?
Companies must be ready to compete in the future. The combination of enhanced technology and innovative solutions will help unlock greater potential from assets. We will comment on some of the latest innovative thinking in Operation and Asset Optimization and Worker Management.
6:00 – 6:30 pm – Welcome Reception & Cocktails
6:30 – 6:40 pm – Introduction from Master of Ceremonies
6:40 – 7:00 pm – Keynote Speaker
7:00 – 9:00 pm – Three-course dinner complemented with table discussion points
9:00 – 9:30 pm – Wrap up & closing remarks from Berkeley Research
- Operational Excellence: What does your roadmap to the future look like? How do you move from surviving to thriving?
- Capital Projects Leadership: How do you optimize ROCE? More importantly, what is your leadership doing: helping or hindering?
- Facilities of the Future: What does it mean to compete in the future; how do you see new innovation unlocking previously unrealised assets?
Kenneth B. Medlock III, Senior Director – Center for Energy Studies
Kenneth B. Medlock III, Ph.D., is the director of the Masters of Energy Economics program and is the chair of the faculty advisory board at the Energy and Environment Initiative at Rice University. Medlock is a principal in the development of the Rice World Natural Gas Trade Model, which is aimed at assessing the future of international natural gas trade. He has published numerous scholarly articles in his primary areas of interest: natural gas markets, energy commodity price relationships, gasoline markets, transportation, national oil company behavior, economic development and energy demand, and energy use and the environment. He has testified multiple times on Capitol Hill on U.S. oil and natural gas exports, has spoken at OPEC, and is frequently asked to speak about global and domestic energy issues.
Medlock is currently the vice president for conferences for the United States Association for Energy Economics (USAEE), and previously served as vice president for academic affairs. He is also an active member of the American Economic Association and is an academic member of the National Petroleum Council. Medlock has served as an advisor to the U.S. Department of Energy and the California Energy Commission in their respective energy modeling efforts.
Medlock received his Ph.D. in economics from Rice University in May 2000.
About Berkeley Research:
Berkeley Research Group’s Energy practice advises corporate management and boards, investors, resource owners and developers, regulatory and government agencies, and their legal counsel. Our professionals provide strategic, economic, commercial, and financial advice in an increasingly complex and competitive global energy marketplace. Our expert advisory is based on broad industry experience that spans the energy value chain worldwide.