Our client, a medium-sized oil company, had acquired some underperforming assets. They had been aware since before acquiring the assets that something would need to be done differently to generate a return on any potential investment. However, they were also aware of alternative practices that made the opportunity viable for them. Conscious that they did not have the expertise internally, the client engaged Pangea’s services to access the knowledge that would enable them to make a start, whilst simultaneously identifying the right candidates to hire for the team to achieve long-term delivery.
We connected the client with a Senior Engineer. The Expert chosen had a track record of working on projects that had encountered the same type of problems as those being faced by the assets our client had acquired.
The Expert was able to talk through the public statements made by the company that sold the assets and share his experiences from similar scenarios.
Analysis of Market Challenges and Barriers:
He was also able to provide valuable details on the specific nature of the challenges that were being confronted, how they differed from the usual, and the potential reasons why they had not been resolved by the previous operator.
This insight gathered allowed our client to get straight on to the task of pursuing an alternative approach. They, thus, avoided making the same choices as their predecessors and repeating plans that had not produced results. Furthermore, in just a few telephone sessions with the Expert, the client was able to design the outline of a best practice plan of action – a guide on how to maximise their new asset.