For oilfield services, focusing on environment, social and governance efforts could be a differentiator when it comes to securing new contracts or customers.
Recognized leader in ESG/sustainability Rosa Rivero, principal at Responsibility Matters, said few oilfield services companies are talking about their ESG efforts, which is a mistake, because there is a lot to gain for those who take the leap to stand out among its competitors.
“We’re in this low price (environment),” said Rivero. “As an oilfield services company, can you differentiate your services by having this ESG component or an ESG story that goes along with them? As a producer, if I'm choosing between two oilfield service providers, and one has a better environmental performance, better safety record, and they can show it to me, it is going to stand out.”
Rivero has extensive experience supporting oil and gas companies of all sizes including ARC Resources, Baytex Energy, Seven Generations Energy, and Suncor. Since 2011, she has helped companies transform "haphazard environmental and social communications aligned with investor and stakeholder expectations."
On June 17, Rivero will share her expertise in ESG Fundamentals for Oilfield Services. The three-hour live course will provide clarity and understanding of ESG reporting for companies that are just starting ESG work or those looking to advance the conversation.
Getting started on ESG reporting doesn’t have to be a long, costly and complex process, said Rivero. The course is designed to arm oilfield service providers with very basic and doable tools to get started right away, leaving room to build on strategies in the future. Rivero said getting started doesn’t have to be overwhelming.
“We want to give them an actionable plan to start today,” said Rivero, who has led the development of sustainability/ESG reports for companies with operations in the U.S., Canada, and around the world.
After the session attendees will understand why their customers are under pressure to examine the ESG impacts of their supply chain and how that translates into increased pressures for oilfield service providers. Participants will be able to speak confidently about ESG to their customers, investors, and peers. They will learn what ESG means for an oilfield service provider and what customers expect from them.
“Many oilfield services companies are private, but they still need to appeal to customers that are in oil and gas and are feeling this immense pressure, and are turning to their providers to see how they can help them either meet ambitious goals, or make sure that they have a good environmental and safety performance,” said Rivero.
Click here to register for ESG fundamentals for oilfield services.