Philip Whittaker
Partner and Director, Oil & Gas
London
Partner and Director, Oil & Gas
London
Philip Whittaker joined Boston Consulting Group in 2007. He is a core member of the Energy practice, specializing in upstream oil and gas and oilfield services and equipment.
Philip has 25 years’ experience in oil and gas exploration and production. As a consultant, he has worked with operators, national oil companies, service companies, and investors in more than 25 countries on a range of strategic and operational issues.
Philip has led and supported over 100 projects in oil and gas covering strategy, growth, operating models, and post-merger integration. He also co-leads BCG's work on E&P Decommissioning. He has published extensively on E&P, and is regularly called upon as an oil industry commentator by sources including the BBC and The Economist.
Before his consulting career, Philip worked with Shell, running onshore, jungle, and desert drilling operations in Europe, South America, and the Middle East.
If low oil prices persist, deferred decommissioning spend and accelerated shutdowns could create a new wave of "idle iron"—resulting in increased costs, risks, and external scrutiny.
Current market conditions will make it challenging for some companies to stay afloat. Five actions can help oil and gas operators navigate multiple scenarios.
It’s a half-trillion-dollar liability that will only grow over time. Leading operators in each basin must decide on a strategy and work with their suppliers to put it into action.
Upstream oil and gas companies took bold measures to weather the plunge in commodity prices. But they’ll need to reinvent themselves yet again.
Oil and gas operators and governments have announced ambitious plans to reduce abandonment expenses. To make it happen, they need to orchestrate a multifaceted approach.
Thousands of wells and structures in Southeast Asia, Latin America, and West Africa are nearing obsolescence. Governments must prepare for the massive decommissioning task ahead.
Alliance activity in oilfield services could help oil and gas companies navigate a challenging environment. It could also be a boon to the oilfield services industry.
Aggregate estimates for North Sea oil and gas decommissioning start at $100 billion and rise sharply. Systemic pain points among operators are adding complexity, time, and cost.
Lower oil prices have failed to deliver most of the economic benefits that many analysts had expected.
With the unprecedented decline in industry revenues, oil and gas companies and governments must work together to frame a balanced dialogue and shape a more appropriate level of government take.
