Ten principles for operator transitions
Incoming operators face several challenges when taking over an asset, including managing the transition, improving performance, and capturing value. These principles can guide the way
In the past five years, many oil and gas assets experienced a change of operator after concessions expired and new operators or NOCs acquired the rights, or after IOCs divested or acquired assets. Regardless of the circumstances, a transition between operators represents a critical point for an asset. On the one hand, assets can gain fresh life through better access to capital, the adoption of new operating methods, or the application of new technologies that enhance value. On the other hand, an operator change can trigger instability and increase risk. Indeed, many new operators fail to capture the value they expected. Drawing on our experience of multiple operator transitions, this articl
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