Rediscovering the art of exploration: Practical steps to establishing a high-performance exploration organization

In recent years, small independent oil and gas companies have made an increasing proportion of new exploration discoveries. Meanwhile, at the largest oil companies, a focus on short-term financial results has taken precedence over exploration for new reserves, endangering long-term performance. To reassert their historical leading position in exploration and new discoveries, the supermajors and other large oil and gas enterprises need to emulate cultural elements of the most successful small companies.