Drilling Down: Oil and Gas Magazine

Drilling down
Oil and Gas Magazine

Second edition
Articles include:
Delivering on digital
Get more from your twin
Tax in a digital world
Customer, insights and loyalty
KPMG International
kpmg.com/drillingdown
Foreword
Digital is the antidote to disruption:
Why oil & gas companies must speed
up digital transformation
By Jonathon Peacock, Global Sector Lead, Oil and Gas, KPMG International
© 2023 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved.
The oil & gas sector is entering a twins are driving operational companies should have a clear vision
period of ongoing disruption. efficiency and value in virtually every of how they expect to play in the
Companies are being asked to part of the oil & gas value chain. new energy environment. They will
reinvent themselves from the need to state their ambitions around
subsurface up. This can best be Recognizing the gap between digital net zero clearly — not only for their
characterized by the following: ambition and reality, this edition of customers and stakeholders but also
Drilling Down also takes a more to retain key talent — and then
• Performance is being assessed holistic view to exploring some of the demonstrate their progress. They will
by new measures and metrics. unique barriers and opportunities likely need to put ESG considerations
facing oil & gas companies as they at the core of their strategic planning,
• They are facing massive changes
strive to digitize their businesses. And reducing the risks but also finding
in the tax and regulatory
we offer some examples and case opportunities. Understanding the
environments they operate in.
studies from KPMG member firms intersections of purpose and profit
• They are responding to rapidly that work around the world to try will be critical.
evolving customer and to demonstrate how the leaders
stakeholder expectations. are overcoming the barriers and Why digital matters
embracing the opportunities of digital.
• And they are doing so against a
If you thought the past few years
backdrop of significant
Reading between the lines were disruptive, just wait. I believe
socioeconomic and geopolitical
we have only seen the sparks of
uncertainty.
As you read the various articles, disruption; and the fundamental
Digital solutions are one of the several central themes should transformation they have ignited are
potential antidotes to disruption, if emerge. quickly becoming burning platforms
applied correctly, in that they can: for change. Oil & gas companies
The first and most obvious big should be agile if they hope to
• provide oil & gas companies with theme is the need for reliable, survive. And a key way to achieve
the data they need to make integrated and accessible data. Data that is through digital. Digital is a
strategic and operational is the lifeblood of digital. It feeds the potentially strong antidote to
decisions. digital tools. It leads to new insights. disruption and I suggest oil & gas
• give them the agility and And it can deliver the visibility that leaders start to rapidly prioritize
flexibility to adapt to changing oil & gas companies need to drive investment and deploy digital
market conditions. efficiency and expand into new capability across the sector. I hope
markets. Oil & gas leaders should this publication inspires industry
• offer the tools to create and start thinking of data like they do decision-makers to double down on
execute new business models. molecules — assets that can be their efforts to drive digital
• form the foundations of the refined to create products and transformation throughout their
future of work. It can help to competitive advantage. enterprises and ecosystems. To
reduce risk, enhance insight and learn more about the topics raised
drive efficiency. The second big theme is around here or discuss your unique digital
skills and capabilities. Indeed, I transformation opportunities, I
• deliver the agility that is needed believe Human Capital will be the encourage you to contact your local
when facing an uncertain future. next big battleground for oil & gas KPMG member firm or any of the
Let’s show you how companies. In part, this is because authors listed in this publication.
the oil & gas workforce is shrinking
In this edition of Drilling Down as experienced professionals retire Sincerely,
magazine, we explore some of the and new talent is pulled toward
use cases that are driving the urgency other industries. At the same time,
of the digital transformation in the oil as oil & gas companies become
& gas sector. We explore how digital increasingly digital, new skills and
is helping to build customer loyalty talent will be required and older
and insights as oil & gas companies skills may need updating. Securing,
seek to diversify into new business upskilling and developing this talent
models. We examine how digital is will need to be high on the
helping oil & gas tax functions transformation agenda.
become more efficient and more Jonathon Peacock
strategic as tax moves up the oil & The third theme that emerges is Global Sector Lead, Oil & Gas
gas agenda. We look at how digital around purpose and values. Oil & gas KPMG International
What’s inside
05
Delivering on digital 05 24
Activating the
transformation
14
Get more from
your twin
The new epoch of
digital twinning
24
Tax in a digital world
14
Transform tax,
transform value
34
Customers, insights
and loyalty
How to grow the
downstream
34
Delivering
on digital
Activating the transformation
By Jeff Monk, Chief Marketing Officer, US Energy Industry, Microsoft Corporation;

Monica Ortiz, Manager, KPMG in the US; Jonathon Peacock, Global Sector Lead,
Oil and Gas, KPMG International; and Rohit Ravindran, Digital Platforms Lead,
KPMG in the US.
5 Drilling down
The shift from hydrocarbons to electrons
is underway. And many energy companies
know they need to achieve a digital
transformation to survive and thrive in the
new energy environment. The challenges
are significant. But so, too, are the
opportunities.
6 Drilling down
From hydrocarbon to electron
Investors expect growth. effective use of your data to help
Stakeholders are calling for manage that complexity and drive
transition. Customers want
diversification. Employees are
those investment decisions. At the
same time, your strategy probably How can digital
focused on purpose. And
regulators are watching
involves doing what you do today
(i.e., the upstream and midstream transformation
everything. One of the critical
ways for energy companies to rise
parts of the business) more
efficiently and effectively, which help solve my
above these pressures and thrive
is through digital transformation.
requires enhanced operational
awareness and control. big risks?
In late 2021, the Eurasia
Don’t be fooled: digital Now go beyond your business
Group and KPMG articulated
transformation isn’t just about models to look at your broader
some big risks facing the
technology. It is also about doing ambitions. As the next chapter
world in 2022. Let’s look at
things better, getting better argues, digital transformation is a
a few and assess the value
insights, delivering better vital enabler of the energy
of digital
outcomes and building resilience transition and ESG agenda. If you
for the future. It’s about knitting are a purpose-led organization, your • Trade, market access
together the right capabilities, customers, employees and and supply chain
solutions, models and — yes — communities expect to see you disruptions. A digital
technology to deliver on your take action on your promises, to business can conduct
ambitions for the future. It’s about back that action up with reliable meaningful scenario
enabling your organization to act data, and to report. Even the planning, adjust to
with agility as it evolves and fundamental ambition of simply changes in trade
building the foundations for growth. remaining ‘compliant’ with agreements, and enjoy a
If you are starting with technology, regulatory and tax requirements deeper insight into its
you are looking at the problem from increasingly requires enhanced supply chain so it can
the wrong angle. digital capabilities. problem-solve early.
The key here is to consider what you Our view suggests that digital • A rocky energy
want to be in the future and what transformation will be needed to transformation. Digital
digital capabilities your organization execute all aspects of an energy energy companies see the
will require to get you there. company’s future strategies. And it risks and opportunities
will likely be critical to helping and can quickly pivot to
If you are contemplating growing manage the risks and uncertainties accelerate progress or
your downstream and forecourt of the future. Yet building these take advantage of new
business, you will need key insights capabilities, solutions, models and technologies and
into your customers, their needs technology ecosystems takes time solutions.
and expectations. If your plan and experience. You should think
includes diversifying into businesses about them early, in an integrated • Cybersecurity and
in adjacent sectors — likely fashion and with a clear vision of governance chaos. An
broadening your value chain from what you want to be and how you intelligent digital
hydrocarbons to electrons — you want to be perceived. transformation roadmap
may want to ensure you are making puts cybersecurity and
governance front and
center. It works to provide
organizations with the
data they need to remain
in control of their
operations and data.
7 Drilling down
How digital delivers on
sustainability
As energy companies look to meet Digital can also have a massive
their ambitious Net Zero goals, impact on your Scope 3 emissions.
digital is increasingly seen as the
lynchpin. Digital can be a key
Moving from in-house servers to
the cloud doesn’t just move Where are the
enabler of the energy transition; it
can help drive and be a
emissions from Scope 1 to Scope
3; it can also help eliminate them. linkages?
mechanism for transparency. Microsoft Azure™ cloud1 is
offering energy companies with a 1. Reduced planning
For example, consider how digital more sustainable set of products cycle time, process
can help your organization reduce and technologies. variance and
direct emissions. By digitally downtime = reduced
preparing for service and Indeed, there is a wide range of routine flaring, improved
maintenance calls before dispatch, ways that data and digital can help site remediation and
energy companies can reduce drive the ESG agenda for energy. better managed energy
truck rolls and waste at the When Microsoft and KPMG firms consumption.
frontline. Digital can improve work with clients, they often help
planning cycle times and remove them understand and quantify the 2. Enhanced demand
process variances that often lead climate impact of activities not intelligence, asset
to routine flaring (a significant usually considered within the health and product
cause of emissions). Digital can traditional sustainability envelope. design = a more
help accelerate leak detection and balanced supply and
mitigation, reduce upset KPMG firms and Microsoft show demand, reduced upset
conditions, and help manage decision-makers how ERP conditions, and better
energy consumption. modernization can allow them to product innovation.
integrate their data and improve
Or consider how digital can help their governance and reporting 3. Improved raw material
drive indirect (or Scope 2) around climate impacts. The goal handling, dispatch
emissions. With the right data and is to help them see the link and route planning
insights, supply chains can be between connected assets, and asset integrity =
optimized. Waste can be removed operations, and data. They are faster leak detection,
from the process. And cleaner, shown how efficiency, skills proactive leak mitigation
greener suppliers and supply enhancement, and collaboration and reduced emissions.
routes can be found. Digital can can enhance the impact of their
speed up the requisitioning digital workforce on climate 4. Optimized resource
process and ensure supplies are activity. The lines between ESG management, asset
available at the right time, in the compliance, reporting, and data performance and
right place, and for the right are clearly drawn. stoppages = reduced
people. And it can allow energy process flaring, more
companies to better track their Digital is the lynchpin to meeting rapid intervention and
climate change efforts (and those your climate and Net Zero goals. It preventative measures.
of their suppliers and suppliers’ should be at the center of your
suppliers) down the value chain. strategy.
1
Microsoft, Microsoft will be carbon negative by 2030
8 Drilling down
Getting your arms around
the data
If digital is the conduit, data is the processes and improve supply industry solutions. The cloud also
liquid that flows through it. There is chain collaboration. It reduces the allows organizations to see their
no use for digital without data. And returns energy companies can reap data across complex systems —
the wrong data — or disconnected from their investments. It erodes new and legacy.
and unstructured data — can make decision-making confidence and
a digital strategy ineffective. Simply creates multiple versions of ‘the If your organization is already
put, at the center of every great truth’. It undermines growth. migrating systems to the cloud
digital strategy is great data. (perhaps as part of an ERP
A well-planned digital modernization initiative), this is your
But for the value of digital to be transformation starts with the data. opportunity to get your arms
achieved and for use cases to be And when Microsoft and KPMG around your data. It’s also your
fully realized, data must be firms work with clients in the opportunity to understand your
accessible, trustworthy and secure. energy sector, the focus is often on data needs, assess your data
It needs to flow to the right points, helping organizations achieve quality and integrate new sources
integrate with other data sources high-fidelity, real-time and trustable of data that can provide even
and deliver actionable insights. The data and insights from their digital deeper insights (such as sensors,
problem is that most energy data investments. supplier data or climate data).
currently in existence (and there is
a lot of it) is locked up in siloes, Cloud technology can play a crucial The good news is that there are
stuck in the supply chain and role here. Cloud solutions like organizations — like Microsoft and
purposefully separated between Microsoft Azure can bring data KPMG — with deep experience
assets and systems. from disparate systems together, helping similar organizations get
provide the platform upon which it their arms around their data.
This inability to harness operational can be analyzed, deliver the Indeed, the data challenge can
and IT data hinders the company’s processing capabilities and quickly become a data opportunity
efforts to modernize its governance controls required, and with the right connections. The
organizations, enhance its do it all within tried and tested next chapter explains how.
9 Drilling down
It takes an ecosystem
You have an aggressive digital nor should they. The world is filled digital transformation agenda,
agenda. But do you have the right with best practices, frameworks rather than relying on one-on-one
in-house skills, capabilities, people and solution sets that have been tie-ups. It’s about bringing
and talent to deliver? Digital tried and tested in other together diverse perspectives,
transformation is a massive and organizations, situations and new capabilities and additional
complex project. And KPMG’s environments. The trick is to identify capacity to help the organization
experience suggests that only and apply the right ones for your meet its goals.
one-in-three transformation organization.
projects deliver on their value KPMG firms and Microsoft often
expectations. The problem is that — in today’s work together at the cornerstone
tight human-capital environment — of these collaborations. In the
It requires a wide range of new recruiting, developing and retaining energy sector, the KPMG and
skills and job profiles, including experienced, skilled talent and Microsoft alliance enables us to
data scientists, software capabilities is challenging. Energy identify and integrate players with
engineers, agile coaches, companies compete against virtually proven capabilities and solution
cybersecurity professionals and every other company in the world sets and help ensure alignment,
DevOps engineers. It involves for digital skills. Finding enough of collaboration, and delivering the
energy companies stitching the sort that meets your specific value of digital by working closely
together a range of different needs may not be easy. together.
systems and technologies —
some new, some legacy. It takes If you can’t buy or build it, you’ll No organization can likely navigate
smart change management and need to partner. And here, too, the scale of change required by
transformation skills to drive use KPMG firms and Microsoft have digital transformation alone.
and adoption. It also requires seen significant changes in the Therefore, the real challenge
existing employees to upskill and market. The digital transformation facing energy companies is finding
learn new digital capabilities. agenda is being delivered by the right help with the right
creating ecosystems of players capabilities and skills to get you
At the same time, no organization that work together, invest together where you want to be.
wants to reinvent the wheel — and and innovate to deliver on the
Industry-specific components
Connected
Industry aligned solutions that map to the KPMG
Technology Blueprints for the 8 Connected Capabilities
Microsoft 365 Dynamics 365 across Industries
Powered
KPMG Powered Enterprise enabled by Microsoft
Developer Tools Power Platform Dynamics 365 and Power Platform, an integrated
approach fuelled by business process and technology
accelerators to facilitate rapid and effective functional
transformation.
Microsoft Azure
Trusted
Solutions, Knowledge and Support to manage risk and
regulation in your transformation journey, providing
Identity, security, management, and confidence that enables responsible growth, bold
compliance innovation and high performance.
10 Drilling down
Seeing the upside of cyber
One compromised password — Energy leaders would be better
that’s all it took to knock out 5,000 served to see cyber as an
miles of gas pipeline.2 Ransomware
was installed. Critical business
opportunity as much as a risk. A
robust and defensible cyber Key takeaways
applications became unresponsive. position gives the organization the
The owner had no choice but to confidence it needs to bring • Energy companies should
proactively shut down their important data sets together. It consider reinventing their
operations. It’s a horror story no allows the organization to be more business models with a
energy company wants to agile, aggressive when entering sense of urgency
experience. And it’s a risk that no new markets, and competitive
government or regulator wants to when working with customers. A • Digital transformation is
leave unmitigated. robust cyber stance isn’t just about required to deliver on the
protecting the organization from expectations of investors,
The topic of energy infrastructure risks and fines; it’s about preparing employees and
security is top of mind for the business to grow and thrive. customers
politicians and policymakers around
the world. From ransomware As such, energy companies should • Start by focusing on the big
attacks to suspected nation-state think carefully about how cyber is risks and opportunities —
hacks, regulators and governments embedded into their digital climate change, cyber,
are enacting a range of policies to transformation plans and operating cloud migration and energy
ensure their critical infrastructure is models. They will want to select transition, for example
resilient, safe and secure. The path partners that can offer high levels
to digitization must be a safe one. of security. And they should • Don’t underestimate the
consider how they can get ahead value and importance of
Yet there is natural tension. On the of cyber risks and requirements to reliable, high-fidelity,
one hand, energy companies ensure the value of the digital real-time data
should open up their data, integrate transformation is delivered.
it across IT and OT, and make it • Digital transformation is a
accessible across the ecosystem. massive undertaking, but
But on the other hand, they are there are best practices,
ultimately responsible for keeping solutions and partners
that data safe and secure. The that can help.
tendency is to fall on the side of
risk mitigation.
2
Bloomberg, Hackers Breached Colonial Pipeline Using Compromised Password, June 2021.
11 Drilling down
KPMG and Microsoft
KPMG and Microsoft combine
advanced technologies, industry
insight, creative thinking, and
established excellence in advising on
complex global business issues to help
transform your company in the areas
most critical to your prosperity and
ongoing sustainable success.
The strong portfolio of KPMG and

Microsoft alliance offerings can help
you address these challenges by
building applications, automating
manual processes, and continuously
analyzing information to help reduce
the risk of errors and increase your
ability to make smart decisions. As you
embark on your digital transformation
journey, you can rely on KPMG
professionals and our business-first
approach to deliver effective Microsoft
technology-based solutions to help you
achieve meaningful and sustainable
business outcomes.
The strong portfolio of

KPMG and Microsoft
alliance offerings can help
you address these
challenges by building
applications, automating
manual processes, and
continuously analyzing
information to help reduce
the risk of errors and
increase your ability to
make smart decisions.
12 Drilling down
About the authors
Jeff Monk Monica Ortiz
Chief Marketing Officer, Manager, KPMG in the US
US Energy & Sustainability
Microsoft Corporation
Based in Houston, Jeff is a 25-year veteran of the Monica is a Manager with KPMG Platforms Microsoft
Energy Industry and has held operational and team and leads digital & cloud transformation,
commercial leadership roles as the US Region business advisory engagements to a fully integrated
Director for Siemens Energy, Global Director of Oil & ERP system. She bring hands-on experience with full
Gas for GE Energy’s Aeroderivative Gas Turbine cycle close, practical application of accounting
business, and as VP of Strategic Accounts for GE Oil methods, internal & external reporting, and system
& Gas and its subsidiaries. implementations to help harmonize data and
streamline process design to help clients derive higher
Currently Jeff leads Microsoft’s go-to-market strategy Return on Investment (RoI).
for the Oil & Gas and Power & Utilities Industries. In
addition to advocating on behalf of the industry inside
Microsoft, he brings a unique perspective on the role
that technology can play in improving safety,
optimizing operations, and accelerating the adoption
of technology across the energy value chain.
Jonathon Peacock Rohit Ravindran

Global Sector Lead, Digital Platforms Lead,
Oil and Gas, KPMG in the US
KPMG International
Jonathon has more than 30 years experience in a Rohit has 25 years of experience in technology-enabled
variety of strategy, operational and project business transformations. He specializes in leading
management roles in military, corporate and large technology programs that enable value for
consulting organizations. Since joining KPMG in businesses through the KPMG and Microsoft global
2009 Jonathon has worked across a wide range of strategic alliance. He is experienced in working with
industries including: Energy & Natural Resources, clients in finance, human resources, procurement,
Financial Services, Government and a range of supply chain, operations, sales/marketing, and
corporates, advising on strategy, business information technology industries.
transformation, operational improvement and
effective change management.
13 Drilling down
Get more
from your twin
The new epoch of digital twinning
By Peter El Hajj, Digital Twins Lead, Net Zero Urban Program, KPMG in the UK;
Ronald Heil, Global Cyber Security Leader for Energy and Natural Resources and
Partner, KPMG in The Netherlands; Kimberly Sorensen, Principal, CIO Advisory,
KPMG in the US; and Candice Wilson, Director, Energy Solutions, KPMG in the US.
14 Drilling down
The oil and gas sector has been
virtualizing processes and assets
for years. But are their digital twins
delivering the value they could?
15 Drilling down
What it is and what it isn’t
You’re no stranger to digital twins. Digital twins are everywhere. And
For decades, oil and gas players have the term can be equally applied to a
created digital representations of wide range of technologies and
assets and processes. Operators approaches. A digital twin could be
have been digitally simulating a straightforward visualization Midstream players have
everything from offshore platform technique — like a graph or a chart. been virtualizing pipelines
operations to subsurface reservoirs Or it could be a highly immersive
and processing facilities.
on the upstream side. Midstream visualization environment (or HIVE)
players have been virtualizing where operators can view, monitor Downstream players use
pipelines and processing facilities. and remotely control an asset or digital twins to monitor
Downstream players use digital twins process. It might be a digital their operations and
to monitor their operations and representation of an object, an
optimize maintenance
optimize maintenance schedules. asset, a process or a system. And
it could be used for anything from schedules.
training to operation.
Digital twins overview

Data
Outcomes
Physical Twin Digital Twin

Insights
asset, system or process analysis, simulation

and visualisation
Interventions Decisions
Source: KPMG Analysis
What makes a digital twin valuable, Your oil and gas business will likely
however, is that it is connected to use digital twins across the asset
reliable and relevant data streams. lifecycle. In the project design phase,
The more ‘right time’, the better your engineers and planners may use
(live data may not always be what’s digital twins to conduct remote field
required). Regardless of their form walkthroughs or enhance spatial
or application, a digital twin should awareness and orientation. Your
have a clear purpose, such as to project managers are probably using
allow decision-makers to reduce digital twins to track execution
risk and increase business value. progress. Operations leaders may
And to do that, it must be founded use them to stress test cost and
on quality data. scheduling parameters or to conduct
operator training.
16 Drilling down
In the operations phase, digital twins flow streams remotely. They enable The big question, therefore, isn’t
are helping reduce FTE operators to optimize processes and whether or not you need digital
requirements by allowing central equipment in real-time or to conduct twins — it is whether your digital
remote operations, and by ensuring emergency response. Maintenance twins are delivering as much value
operators are well trained and schedules are being optimized. as they could.
informed. They are being used to Downtime is being reduced. Risks
monitor operations, components or are being better managed.
Digital Twin Functionality
Activity/
Visualization Monitoring Simulation
Function
Virtually explore project Efficiently track project Capital project design and
Project design and have instant execution cost and schedule stress
Design, Build, access to detailed testing
Startup blueprints and other key FTE, CAPEX, and OPEX
& documents Savings FTE and OPEX Savings,
Handover possible CAPEX savings
FTE and OPEX Savings
Remotely identify and Remotely monitor facilities Continuously optimize

diagnose operational and processes to minimize facilities operations
issues and constraints in downtime and unexpected and simulate “what if”
Operations the production system; events scenarios with minimal risk
& improve safety planning
Production (simops and hazops) FTE and OPEX Savings, Production Uplifts
Optimization possible Production
FTE and OPEX Savings, Uplifts
Safety
Rapidly, remotely, Generate real-time, Optimize maintenance

locate and disaggregate aggregated data streams schedules and evaluate
equipment packages to from operating equipment impact of potential
Engineering improve work preparation and maintenance modifications
& and execution safety operations
Maintenance FTE and OPEX Savings
Effectiveness FTE and OPEX Savings, FTE and OPEX Savings, and Production Uplifts
Safety possible Production
Uplifts
17 Drilling down
Finding the value sweet spot
Some digital twin use cases can Oil and gas infrastructure is a simulation and optimization could
deliver a bigger bang for the buck complex network of assets and provide a 6:1 return.
than others. If you operate a systems that come together to
brownfield (i.e. already built) asset enable safe extraction, treatment The ultimate value would be a digital
nearing its end of life, you may be and flow of resources. As the use twin that provides a highly
challenged to justify the costs and of digital twins grows, they will immersive optimization environment
disruption involved in creating a extend beyond individual assets, of an integrated system-of-systems.
digital twin. Once you add up all and into the systems and system- In the oil and gas sector, that utopia
the resources required to of-systems they are part of. And might be an ecosystem of
implement new technologies, new this will release more value to the connected digital twins that
data management systems and entire enterprise. provides visibility from upstream to
new processes, you may find the downstream, across the end-to-end
business case doesn’t stack up. KPMG firms work suggests that oil and gas operation. Some cities
the return on investment can also are moving in that direction — using
If you are building greenfield (i.e. increase significantly depending on digital twins to optimize their assets
from scratch), however, the their application. Where a non- and resources, to prioritize
equation flips. Building a digital remote brownfield visualization investments and to reliably monitor
twin of a new offshore platform application (like, for example, an ESG impacts and goals by taking a
after the fact would be like telling operator training module) might ‘whole system’ approach.
an electrician not to wire a new deliver a 1:1 return, a remote
house until the interior has been visualization application could Ultimately, the true value of a digital
plastered and painted. The earlier provide a 3:1 return (mainly by twin depends on the reliability and
in the process, the lower the cost reducing the need for engineers or richness of the data that feeds it.
and disruption, the greater the technicians to visit the site). An More often than not, that means
value over the lifecycle. application that allows monitoring, starting with the IT and OT data.
Digital twins overview

Value for investment (2021 Dollars)
55.0
6:1 Return
50.0 3:1 Return
45.0
Total value (present value) MM$$
40.0 Monitoring/Simulation/
Optimization applications
35.0
30.0 Remote visualization

applications
25.0
1:1 Return
20.0
15.0
10.0
Non-Remote brownfield
5.0
Visualization applications
0.0
0 2 4 6 8 10 12 14 16
Total investment (present value) MM$$
18 Drilling down
At the IT/OT interface
In the last edition of Drilling Down over the existing walls, most Once again, greenfield sites may
Magazine, we encouraged readers operators built taller walls. Now offer an easier route to value. In a
to focus on the security of their they are increasingly being asked to greenfield situation, you can ensure
operational technology (OT) pull down those walls and to that data security and integration
environments to reduce risk. When proactively integrate their data into are baked in the right from the
creating digital twins, however, you the broader IT environment. start. You can test capabilities
will likely want to integrate your IT before they are applied in
within your OT. Without real, live Even if they wanted to, integrating operational environments. You can
operational data, your insights may that data is a formidable challenge. plan for interoperability between IT
be limited to what happened in the For brownfield assets and systems, and OT.
past; you won’t be able to influence it would require significant changes
the present or adequately predict to current data flows, processes For some oil and gas organizations,
the future. and controls — both on the OT and integrating and analyzing IT and OT
the IT sides of the house. Security data may require quick progress on
Some old-school operators will and governance would need to be the digital transformation journey. It
shudder at the thought. In the past, updated and enhanced. New will also necessitate a greater focus
common wisdom suggested the analytics technologies and on building the human skills and
only way to keep OT data truly safe capabilities would need to be capabilities to turn that data and
was in a walled garden — isolated bought, built or borrowed. In digital twin into tangible and
from other networks. When regulated areas, the transformation measurable value.
hackers proved they could vault could be exceedingly complex.
19 Drilling down
Data meets experience
You can build a virtual model of
almost anything. But it is only
significant when you have the skills
and capabilities to turn the data into
value. You need to partner people
How a digital twin helped create
with machines. You need to combine
data with experience. You need to
EUR2 million in new revenue
put the information into the hands of
the people that can make decisions. “Could we generate more output power from our existing
turbines?” a European energy company asked KPMG in the
In part, this is about building strong Czech Republic. The company had vast amounts of
partnerships between the business
performance measurement data, market data and external
and IT. The business needs to
articulate the need, quantify the source data available. But it didn’t want to risk shutting
value and develop the supporting down one of its wind farms to conduct physical
capabilities. IT departments should experiments. A digital twin would be needed.
ensure that best practices are
shared, efficiencies are captured, KPMG in the Czech Republic developed digital twins using
and the technology is safe and mathematical and AI prediction models to forecast the
secure. That requires a true
maximum achievable output power based on different wind
partnership between the business
(which includes operations, finance, turbine settings, wind strength and direction. That allowed
supply chain and planning) and IT. the team to test whether different positioning of the nacelle
and blade angles might deliver more output power.
Together, they must think through the
people, data, technology and system The digital twin demonstrated that turbine performance could
requirements that will need to be in be improved by up to 2.9 percent — allowing each turbine to
place to ensure that the digital twin is
generate more electricity, worth up to EUR9,300 per year.
aligned with and delivering on the
business’ objectives. Then they will With some 200 wind farms in this organization’s portfolio,
want to consider where they can that could add up to EUR2.2 million in additional income.
demonstrate near-term value while
sustaining business value and
support. These partnerships and
collaborations will become
increasingly important as the
sophistication and complexity of
digital twins grow — from processes
to assets to systems to systems of
systems.
KPMG firms experience suggests

that oil and gas companies will want
to take a pragmatic and practical
approach that can generate value,
builds capability and enhances
sophistication over time while
simultaneously managing risk and
improving control. Finding that
balance will not be easy.
20 Drilling down
What does the future hold?
If the promoters of the metaverse KPMG firms experience suggests
are correct, every aspect of your that external pressures — like the
life will soon have a digital twin
(even you). And while the oil and
Environmental, Social and
Governance (ESG) agenda — will
Key takeaways
gas sector has often led this area, drive continued adoption and
most other business sectors are sophistication of digital twinning. • Put integration over
rapidly catching up. We are seeing Digital twins are an excellent way implementation. Start
increasing digital twin for investors and owners to monitor by thinking about what
sophistication in infrastructure, their critical ESG indicators. They data, technologies and
government, transport, retail and also allow decision-makers to test systems can be integrated
consumer sectors. and assess the impact of their rather than what new
decisions on ESG metrics before technologies should be
This means that skills, capabilities, implementing them. As the drive to implemented.
technologies and use cases are NetZero picks up pace and
about to grow exponentially as expectations rise, digital twins will • Understand the
companies and investors pour play an essential role in the oil and business objectives.
capital into research and gas response. Digital twins can do a lot
development and as students and of things and deliver on a
digital natives develop more KPMG professionals advice to oil and wide range of objectives
experience using them. The gas leaders is to speed up the digital so make sure you have a
network effect is strong with digital twin journey to capture the actual good understanding of
twinning — the more data, value that is available and build what you want to achieve.
processes, assets and systems are capability and capacity. Very soon,
tied together, the more value is everything will have a digital twin. • Build partnerships to
generated. That is true at an asset, Having the appropriate technologies build value. Ensure that
organizational and ecosystem level. and capabilities will be key. the business and IT is
working closely together
to mitigate the risks and
maximize the value that
you can create.
• Be pragmatic in your
approach. Build
capabilities and
sophistication over time,
while simultaneously
maturing your risk and
cyber capabilities.
21 Drilling down
How KPMG can help
Regardless of the stage of your
digital twin journey, securing
support from a strategic partner
can help to build and sustain an
enterprise capability and can
enable you to double down on the
realization of benefits and keep
your program on schedule.
KPMG professionals can help by

augmenting your internal resources
and delivering successful strategic
digital twin programs. With
knowledge of the possible pitfalls,
and the vendor ecosystem, KPMG
professionals can build complex
analytical models, understand the
socio-technical change impact and
can articulate the value at within
your organization.
KPMG professionals can

help by augmenting your
internal resources and
delivering successful
strategic digital twin
programs.
22 Drilling down
About the authors
Peter El Hajj Ronald Heil
Digital Twins Lead, Net Zero Global Cyber Security
Urban Program Leader for Energy and
KPMG in the UK Natural Resources
KPMG International and
Partner, KPMG in the
Netherlands
Peter is the digital twins lead for the Net Zero Ronald is a partner at KPMG in The Netherlands and is
Urban Program. He is the former program lead for the Global Cyber Lead for the Energy and Natural
the UK’s National Digital Twin Program at the Resources sector. He has extensive experience
Centre for Digital Built Britain. Peter is experienced helping international companies connect their products
in infrastructure finance, public-private partnerships and devices to the Internet of Things and providing
and ESG digital. He is an InfraTech adviser at information security and ICS/SCADA advice.
KPMG with a background in civil engineering and a
PhD in data-driven asset management.
Kimberly Sorensen Candice Wilson

Principal, CIO Advisory, Director, Energy Solutions,
KPMG in the US KPMG in the US
Kimberly serves KPMG’s CIO Advisory practice as Candice has 18 years of experience working with global
an IT Business Management (ITBM) solution, Energy mining and energy companies. She has a proven track
sector and Houston market leader. She has more record working with large global energy companies
than 18 years of experience, primarily focused on delivering business strategy, process optimization and
leading strategic programs and transformational digital technology engagements.
change within and on behalf of the IT function.
23 Drilling down
Tax in a
digital world
Transform tax, transform value
By Claire Angell, Head of Tax for Energy and Natural Resources, KPMG in the UK;
Susie Cooke, Global Tax Transformation Leader, KPMG International;
Jeff Dodson, National Oil & Gas Tax Industry Leader, KPMG in the US;
Carlo Franchina, Global Energy & Natural Resources Tax Leader, KPMG International.
24 Drilling down
As tax moves higher up the agenda for oil
and gas companies, the need for a digital tax
transformation is becoming more critical.
Here’s how oil and gas finance and tax
leaders can transform their tax function to
transform value.
25 Drilling down
The big disruptor: Tax moves up
the Oil & Gas agenda
The OECD isn’t your typical Many governments are using tax as A closer look at the US Inflation
disruptor, nor are most tax both a Big Stick and a Big Carrot to Reduction Act
authorities. But, over the past help accelerate their energy
few years, tax authorities, transition and climate agendas. The Inflation Reduction Act
governments, and Non- That has led to a complex array of includes a wide range of different
Governmental Organizations new taxes, incentives and credits in tax incentives and benefits,
(NGOs) have radically changed virtually every market around the including a robust package of
the corporate tax environment. The world. The slew of new measures energy and climate related
impact has been disruptive — announced in the US Inflation provisions. It is notable not only for
particularly to the oil and gas Reduction Act serves as a case in the numerous new energy tax
sector. point. And remember that all incentives it provides but also for
countries and territories offer the number of new mechanisms
The OECD’s progress on Base different regimes. Navigating the employed to deliver these
Erosion and Profit Shifting (BEPS) complexity and options is incentives.
and Pillar 2.0, for example, challenging.
introduces a global framework to In some instances, the new law
ensure large multinational The challenge for oil and gas provides for direct payments from
enterprises pay a Global Minimum leaders is that all of this tax the federal government to
Tax of 15 percent on the income disruption is coming at a time of taxpayers (if they don’t offset
arising in each jurisdiction where massive strategic and business income). In other cases, the tax
they operate. This is disrupting model disruption — including the credits can be transferred or sold to
many a company’s strategic tax most significant business disruptor other taxpayers. Together, these
planning with a heightened focus of all, the ESG agenda. Tax touches new mechanisms require taxpayers
on digital tax transformation. all pillars of the ESG agenda. Oil and the IRS to think differently
and gas players are diversifying into about long-held concepts of the US
At the same time, tax authorities new lines of business, growing system.
are also becoming more proactive. their downstream capabilities and
Tax authorities reach into investing in adjacencies (like
taxpayers’ invoicing systems in renewables) and entirely new
many markets and determine business models (like the
indirect taxes in real-time. Many metaverse). The tax implications
are already exploring how they will be tremendous.
might similarly reach into a
company’s Enterprise Resource Responding to all of this change in Many governments are
Planning (ERP) system to conduct the tax environment (and, most using tax as both a Big
automated tax reviews, importantly, ensuring compliance) Stick and a Big Carrot to
assessments and audits. And they will require a massive shift in how help accelerate their
are starting to think about how they oil and gas companies currently
would want taxpayer data to be manage their tax function. There is energy transition and
organized to make that process bound to be more disruption. climate agendas.
easier for them.
26 Drilling down
The urgent need for tax
transformation
As tax moves up the agenda, the This is at a time when the urgency machine learning, freeing human
tax function is becoming more of tax transformation is becoming resources for more strategic and
visible at the decision-making table. critical. Generally speaking, tax value-adding tasks. It offers
Oil and gas executives are technology infrastructure at most opportunities to ‘tax sensitize’ data
increasingly looking to their tax oil and gas companies is due for an across siloes to deliver a single
leaders to be more strategic. They overhaul. Excel spreadsheets are source of the truth. It creates room
want to see various tax scenarios everywhere. Data from different for new operating and sourcing
as they plan their business ERP systems don’t always models.
strategy. They expect their tax correlate. A recent survey by
leaders to bring them ideas and KPMG International finds that 64 Digital transformation can enable
opportunities to help drive growth. percent of Chief Technology oil and gas tax functions to
They want to know their tax Officers say their tax personnel automate the manual and
professionals are on top of changes spend more time data collecting repetitive, offload the tactical, take
in the international tax and getting data ready than on the strategic, and deliver real
environment. They want their tax performing tax analytics.3 Even value. There are a few other
professionals to protect the tax when tax data is available, only options given the expectations for
reputation of their organization. some organizations use it the tax function going forward.
strategically.
Like other parts of the business, Where are tax functions
tax is under pressure to move Most oil and gas tax functions now investing?
faster and with more agility. Tax find themselves at a pinch point.
professionals are being asked to The business expects them to be According to KPMG’s annual
cover more ground — they need to more strategic, efficient and benchmark survey of energy,
understand the nuances of ESG capable. But tax functions need power and utilities tax leaders, 88
reporting, the impact of digital more technology tools, capability percent of tax functions plan to
taxes and the complexities of retail and capacity to deliver on those increase their investment in
taxes, for example. They also need expectations. Digital transformation tax-specific technologies.4 Three-
to be increasingly efficient, is the only solution. quarters plan to increase their use
effective and capable in their of enterprise finance IT systems for
compliance and reporting activities. Digital transformation offers tax tax purposes. When asked where
Yet few are seeing a functions a clear path to strategic they would put an extra dollar of
commensurate increase in budgets value delivery. It allows existing investment if they had it, most
or headcounts to handle the processes to be re-engineered with frequently, they said they would
expanded scope. And this type of fewer manual touchpoints and invest in tax technology.
Do-More-With-Less mantra does greater agility. It introduces self-
little to inspire transformation. service functions, automation and
3
KPMG, 2022 Chief Tax Officer Outlook
4
Global Tax Department Benchmarking report, KPMG International, 2021
27 Drilling down
Data will drive the agenda
The drivers of digital Consider the data requirements for information, and 32 percent say
transformation for the tax function applying for various sustainability- they plan to in the future).5
are everywhere — greater demand linked tax credits and incentives.
from the business, rapidly That will require tax functions to Perhaps not surprisingly, tax
changing regulations, heightened access new data sources that may leaders say they will need to
tax authority expectations, or may not currently exist. Where it manage their data better if they
efficiency objectives, talent is available, it is likely spread across want to operate effectively in the
shortages — the list goes on. But various processes, systems and new normal. Almost eight-in-ten
we expect what will ultimately assets in different formats and say they will require data
force tax functions to transform degrees of completeness and management, extract, load and
will be the need for more reliable transparency. Some of it may need transformation (ETL) tools, and 60
and accessible real-time data. to be lifted from third-party service percent say they need ERP, source
providers or Joint Ventures. systems and data warehouses to
The following 18 months will see operate more effectively.6
tax functions looking for — and The external pressure for better
being asked for — increasing and more frequent data is also The data also suggests that tax
amounts of data. Internally, the pushing tax functions to a crisis leaders are currently working to
pressure for more forward-looking point. Tax authorities are moving standardize their processes and
tax scenarios and insights is forcing towards real-time tax reporting, implement new technology tools to
tax leaders to reassess the requiring tax functions to be much lessen the burden of data
freshness and accessibility of their more confident about their data. At management on their function.7
data. They want to provide the the same time, stakeholders and
business with accurate and strategic investors are pushing for greater Over the next 18 months, the
forecasts, but they can’t always tax transparency as part of the ESG demand for data will become a
trust the data they receive from agenda (14 percent of energy clarion call for tax and business
multiple systems. sector tax functions say they leaders in the oil and gas sector to
already publicly disclose their tax invest in digital tax transformation.
Which of the following has your organization invested in to increase the focus on
analytics and lessen the burden required on data management?
80% 78% Key

Standardizing and streamlining processes
66%
Implementing data or technology tools
Investing in technology or analytical trainings

and skills development
48%
44% Leveraging third-party service providers or
vendor tools
34% 33% 33% Redefining roles and responsibilities
Building a data driven culture
Defining governance and controls
Defining a data strategy
Other
1% *Multiple responses allowed.
Source: KPMG, 2022 Chief Tax Officer Outlook
5
KPMG, Global Tax Department Benchmarking: At-a-glance insights for energy, power and utilities sector tax leaders
6
7
Ibid
28 Drilling down
Six Steps towards a
data-driven tax function
1 Start with a standard data model
In our experience, sustainable transformation can’t happen until the tax function has
developed standardized, integrated processes and common data models — a way to organize
data from many sources and formats into a standard structure and share it seamlessly
between different systems, applications and resources. The good news is that various
technologies can help tax functions solve data issues that hamper transformation efforts.
2 Capitalize on ERP upgrades

ERP investments are increasing as organizations work to comply with evolving financial
reporting rules and requirements. A new ERP rollout or upgrade is an excellent chance for
tax functions to optimize data and processes by adding clear tax specifications to work with
the latest business systems. Meanwhile, prominent enterprise vendors are moving to cloud
platforms, which creates additional opportunities for tax functions to access and integrate
the data they need and design tax-sensitized solutions faster and cheaper.
3 Empower ESG with data and analytics (D&A)

Tax and ESG are converging, with corporations being asked to publicly share more
information on their tax strategy and operating model, going beyond mandatory disclosure
requirements. Predictive and scenario modeling enables enterprises to make decisions
that align with the tax strategy while meeting calls for enhanced tax transparency and
reporting under ESG. Next-level and real-time data analysis will enhance tax modeling and
planning in this new, complex environment.
4 Embrace intelligent automation

As tax functions come under pressure to reduce costs, the focus of technology spending
is shifting toward emerging technologies. Intelligent automation offers powerful benefits
for tax functions facing new responsibilities and compliance demands, helping save time
and costs and allowing tax professionals to focus on higher-level strategic activities. By
embedding intelligent automation capabilities such as enhanced vision, speech, and
language, tax functions can bridge gaps between systems and mimic manual steps
executed by humans.
5 Explore managed services

Data management and transformation as a service is an emerging need in tax, specifically
for virtual collaboration and operation of multinational companies in the global environment.
This allows tax functions to unbundle different parts of processes, keeping only the most
value-added data analysis activities in-house. Skilled tax professionals can then focus on
what they were trained to do — analyzing data and deriving tax insights.
6 Transform with people in mind

Tax leaders should not underestimate the necessity of change in other areas of operations,
including people, roles and responsibilities, culture, and service delivery. It comes down to
this: More than a new tool or dashboard is needed to evolve the tax function into a more
strategic business partner. Tax departments that are intentional, systematic and holistic in
their approach to technology and data investments will see actual results.
29 Drilling down
The Power of technology and D&A
enabled tax transformation
Enhancing decision-making
Adapting to changing business needs
Keeping pace withregulatory change
Enabling a holisticview of tax activities
$
Optimizing costs
Driving efficiency
Streamlining processes
Improving financial reporting accuracy
Predicting and identifying p

roblems
30 Drilling down
Overcoming the barriers
Securing investment capital and Similarly, the tax and technology
permission to redesign and transform functions will also need to focus
the tax function is not easy and will
take work. Tax and finance leaders
more on internal partnering, to
smooth implementation and find
Key takeaways
will need to put significant effort into opportunities for alignment on
moving this up the investment investment requests. • Figure out your vision
agenda for the organization. for tax
At the same time, the increasing
Start by focusing on small wins that dependence on data analytics tools • Make sure you are aligned
demonstrate considerable value and and enterprise systems will require with the business and
lead towards a more digital tax higher technical proficiency at all related functions
operating model. This will partly levels of the tax function. And
come down to building the business organizations are competing to • Build momentum and ROI
case for investment. A business case attract and retain a limited number of through quick wins
should include quantifiable benefits high-skilled tax professionals. One
(such as time savings, cost reduction option is to increase the training and • Look for accelerators and
and energy use), qualitative benefits upskilling of current tax employees internal partners
(like scenario planning capabilities, (an activity 58 percent of Chief Tax
better forecasting and more strategic Officers say they are doing).8 • Get support from
advice to the business) and risk Another is to look to outsource transformation
mitigation benefits (including or co-source some activities professionals.
financial risk, governance risk or (45 percent of CTOs say they rely
reputational risk). on outside tax advisers).9
Education will also be critical. The tax Ultimately, building your strategy
function will need to understand the around a clear vision for a digital tax
needs of the business and be able to function is key. If it aligns with the
align its investment requests to needs of the business and can deliver
specific business outcomes. At the some quick wins, you should be able
same time, the business will need to to build the right momentum to
gain a greater appreciation for how a achieve a real and sustainable tax
more strategic and digitized tax digital transformation.
function can benefit the business.
Wishlist
Additional personnel and tax technology topped the list for tax leaders when asked where
they would invest if they had an additional budget.
31% 26% 19% 19% 3%

Tax technology Additional personnal Process optimization Training and education Outsourcing
Source: KPMG Global Tax Benchmarking Survey 2021
8
9
Ibid
31 Drilling down
How KPMG can help
As the world of tax has changed, so
have KPMG firms’ services, evolving for
the modern complexities and
challenges you face to become more
multidisciplinary, technology-driven and
collaborative. By taking the time to
understand your unique business
issues, KPMG Tax & Legal professionals
can bring you targeted approaches and
data-driven insights, engaging a variety
of colleagues and service areas from
KPMG firms around the world, and
often drawing on the experience and
knowledge of KPMG specialists in other
areas of the organization, including audit
and advisory. KPMG professionals are
passionate about building trusting,
long-lasting business relationships with
you — delivering adaptable approaches
to deliver the cross-border services that
meet your business needs today while
helping you transform for tomorrow.
United by our values, governed by the
KPMG Global Tax Principles, and driven
by our purpose to inspire confidence
and empower change.
KPMG professionals are

passionate about building
trusting, long-lasting
business relationships with
you delivering adaptable
approaches to deliver the
cross-border services that
meet your business needs
today while helping you
transform for tomorrow.
32 Drilling down
About the authors
Claire Angell Susie Cooke
UK Head of Tax for Energy Global Tax Transformation
and Natural Resources Leader, KPMG International,
KPMG in the UK Partner and National Service
E: claire.angell@kpmg.co.uk Line Leader — Tax
Transformation,
KPMG in Canada
E: susiecooke@kpmg.ca
Claire is a Tax Partner focusing on the Energy and Susie is the National Service Line Leader for the KPMG
Natural Resources sector. She has over two decades in Canadian Tax Transformation practice. This unique
of experience in the industry, providing corporate tax service line combines technical tax experience, Lean Six
advice to a range of clients. Her experience covers Sigma principles, and technology to transform tax
mergers and acquisitions, international tax structuring, functions, including compliance and reporting
asset finance, corporate tax compliance and tax processes. In tandem with her Canadian role, Susie is
provisioning. also the Global Tax Transformation leader, where she
leads KPMG‘s Global Tax Transformation teams across
the KPMG network of member firms.
Jeff Dodson Carlo Franchina

National Oil & Gas Tax Global Energy & Natural
Industry Leader, Resources Tax Leader,
KPMG in the US National Leader, Corporate Tax —
E: jtdodson@kpmg.com Non-Financial Services,
KPMG Australia
E: cfranchina@kpmg.com.au
Jeff has more than 25 years of tax experience in Carlo has extensive experience providing tax advice to
Big Four Merger & Acquisition and corporate tax various international and Australian companies involved
departments. He leads our Energy and Natural in multiple industries. He has advised on several high-
Resources practice within M&A and works closely profile and complex transactions, been engaged in many
with our other O&G industry leads in the upstream, tax reviews with tax authorities in Australia and is
midstream, downstream, and O&G services space. involved as a signing tax partner on many of KPMG
Before rejoining KPMG, he served as the Director Australia‘s multinational audit clients.
of Tax Planning and International at a FORTUNE
300 company with significant foreign operations in
North America, Europe, and Asia.
33 Drilling down
Customers,
insights and
loyalty
How to grow the downstream
By Manas Majumdar, Partner and National Leader — Oil & Gas, Chemicals,
KPMG in India; Paul Martin, Chair Global Retail Steering Group & Head of Retail
UK, KPMG in the UK; Sushant Rabra, Partner, Digital Advisory, KPMG in India;
Narmin Vasanji, Prairies Management Consulting Geographic Leader,
KPMG in Canada; Eric Wesselman, Partner, Head of Digital Transformation
Advisory, KPMG in the Netherlands.
34 Drilling down
You know you need to diversify and grow your
downstream business if you hope to survive
and thrive past 2030. To do that, you need to
know your customers. Here’s how the leading
oil and gas companies are transforming into
customer-centric businesses.
35 Drilling down
Why do customers suddenly
matter more?
The pressure on oil and gas from EV charging to biofuels to Suddenly, customers matter even
companies to diversify away from hydrogen (whether that be blue, more. And suddenly, many oil and
upstream and midstream activities green, turquoise or pink). gas companies realize they need to
is undeniable. Understanding and adapting to know who their customers are and
customer preferences is becoming what they want.
Institutional investors and banks critical.
have been clear about their plans to
reduce their exposure to the The writing is on the wall. Oil and
industry. Insurers are moving in the gas companies should evolve from
same direction (Munich Re recently
announced they will no longer
the product-centric business
models of the past to the The customer
invest in or insure projects in the
sector).10 At the same time,
customer-centric business models
of the future. And to do that, they IS the agenda
governments and society are should develop a better These are not easy times for
looking to the oil and gas sector to understanding of their customers. oil and gas executives. The
help lead the energy transition and agenda is filled with Red
the drive to Net Zero. Regulators This can be a significant challenge Alert issues and topics that
are pushing for greater transparency for many integrated oil and gas influence decision-making.
around carbon impacts. And companies. Many oil and gas execs Regulators and policymakers
investors want to smooth the risk come from the upstream side. are becoming more active.
of price volatility. Extracting and refining the ESG considerations are
molecule was always the main impacting the cost of capital.
There are good reasons for all the focus. The rest was more about Shareholder activism is
pressure. The reality is that changing smart supply chain planning and pushing different agendas.
customer demand and expectations franchising. Understanding the end
are making the old oil and gas customer was not an upstream Yet, at the root of each of
business models obsolete. Electric priority. these agendas is the
Vehicles sales volumes have customer. Regulators and
skyrocketed, breaking the Now, however, they are being policymakers are trying to
connection between consumers asked to focus on the downstream. protect the customer.
and gas stations. With little room They are facing pressure to develop Customer demand is helping
for differentiation at the pumps, and deploy new customer-centric drive the ESG agenda.
customers are moving to gas business models. They are trying to Activist investors see
stations that also solve their need improve the margins of existing themselves as giving retail
for convenience and value. Those downstream assets and investors a voice. Simply
offering retail, food and other partnerships. They are working to put, the customer is not just
adjacent services quickly capture change their ‘story’ to investors. ON the agenda; the
market share. And they recognize that their ability customer IS the agenda.
to do all these hinges on Understanding the customer
Gone are the days when customers reasonably sophisticated has never been more critical
got to choose from three or four capabilities, customer insights and for the oil and gas sector.
variants of gas and diesel. Today’s loyalty.
customers have multiple options,
10
Munich RE, New Oil & Gas investment/underwriting guidelines, October 2022.
36 Drilling down
Who are you competing against?
Oil and gas companies will need to Consider what that means in terms
come up with some new of your competition. When the
models — and quickly. Just ten years forecourt was all about fuel, oil and
ago, forecourts and gas stations gas companies had just a handful of
were all about fuel. By 2030, we real competitors in each market. For The idea here is to use
expect traditional carbon-based fuel fuel, prices were adjusted in near the forecourt to offer
will make up just 20 percent of a gas real-time, but only quarterly or
customers the
station’s revenues.11 monthly on non-fuel items. Proximity
and need were the main drivers of experiences, goods and
One avenue focuses on footfall. ‘Distress’ fuel purchases services they need
convenience. The idea here is to use usually drove consumer visits. (whether or not they are
the forecourt to offer customers the
fueling up). It’s a
experiences, goods and services Forecourts of the future will likely
they need (whether or not they are face very different competition. They massive expansion of
fueling up). It’s a massive expansion may fight against retail businesses the convenience store
of the convenience store approach with deep customer insights, approach already being
already being used in the UK, relationships and experience.
used in the UK, Canada,
Canada, the US and other markets, These competitors know what their
to include things like luxury cafés, customers want and can adjust the US and other
high-end restaurants, pharmacies prices and inventory rapidly to markets, to include
and groceries. And more than just respond. They compete based on things like luxury cafés,
goods, adjacent services can be convenience, purpose and
high-end restaurants,
added, which open up new experiences. Some may be physical
dimensions for attracting customers competitors. More often, they will pharmacies and
with everything from car likely be digital and platform players. groceries.
maintenance, insurance/financial
services and lockers to home Now consider what that will mean in
delivery services, child play areas terms of capabilities and strategic
and even co-working space. Mobility focus. The ability to extract and
options, charging stations and hubs refine the molecule will continue to
would be available while you shop. be necessary. But as that part of the
business declines, what will become
Our view suggests the forecourts of more important is the ability to
2030 may see approximately 40 understand, interact and serve
percent of their revenues flow from customers. Simply put, the
retail, food and beverage. We expect engineers should make room at the
around 30 percent of from adjacent strategy table for the retail
services and about 10 percent from merchants. They will also need to
mobility services. Fuel will likely transform their own thinking to put
make up just 20 percent — and that the customer first.
proportion will likely decline.12
11
Fuel Forecourt Retail Market, KPMG International, 2020
12
Ibid
37 Drilling down
Evolution of Forecourts’ product and service offerings are continuously
evolving, driven by customer demand for convenience —
contribution of fuel retailing will continue to decline while
forecourts
non-fuel retail offerings will gain prominence
Note: Home delivery trend made more

prominent by rising logistics/delivery
Convenience partnerships in light of COVID-19
Consumers’ forecourt visits
Forecourt centred around ‘distress’

fuel purchase — this
Fuel
in the past dictated the design of
Market Size (2015):
forecourts and the
type of services offered
US$ 176 billion 90% Adjacent
Services
10%
Convenience and
coffee
fuel
‘to-go’ culture has
shifted the consumer Forecourt
shop demand towards
retail shopping and today Car services
(spare parts
& repairs)
adjacent services
Market Size (2022):
US$ 224 billion

Fuel
Retail &
F&B 35%
• Fast-food outlets
Adjacent
Services 15%
• Car services (spare parts and
• c-stores (groceries and repairs)
50% other products)

• Liquid boost (cafes, soft
drink kiosks)
• Pick-up point for packages
• Home delivery goods & services
In the future, consumer demand for Future

Market Size (2030):
convenience coupled with wider
mobility and energy trends will forecourt
enhance the role of services (over
US$ 304 billion 1 10–15 years)
Convergence (Retail + adjacent services)
Fuel 20% Retail &

F&B 40%
• Fast-food outlets
Adjacent
Services
•
30%
Home delivery goods & services
Mobility 10%
• Charging points for
• c-stores (groceries and • Car wash and repair electric and
other products) • Pick up point for packages autonomous vehicles
• Liquid boost (cafes, soft • Amazon lockers (EV/AV)
drink kiosks) • Co-working spaces • Mobility hubs (EV/AV
• High-end restaurants • Child play areas service stations)
• Luxury cafes • High-end restaurants • EV/AV accessories
• Checkout-free c-stores • Laundry services
• Pharmacy
Technology to have an over arching presence all across
Note: (1) KPMG forecast — busing univariate time series ARIMA model in R; the forecast is purely statistical and is based on historic
time series trend; (2) The market size represents revenue derived from convenience sales only; forecourt retailers’ sales of petrol and
gas are excluded as per Euromonitor; (3) A trend made prominent by rising partnerships for logistics and delivery, in light of COVID-19
38 Drilling down
5 generations of customer loyalty
Oil and gas leaders already know purchases. They aren’t usually shipping on all packages. These
that customer loyalty programs are redeemable for reduced fuel prices, loyalty programs, Amazon Prime is
a great way to capture customer but they tend to offer vouchers for an example that many would be
data, build relationships, drive discounted services like car familiar with, require that customers
cross-selling and encourage loyalty. washes. These plans can often pay to join, providing the company
Most have been offering rewards enable some limited cross-selling with an upfront revenue stream.
or recognition programs for years. and product bundling. But today’s These schemes allow retailers to
consumers want more than just drive increased engagement through
The problem is that customer reward points or vouchers. value, service and content
expectations of loyalty programs ecosystems.
have changed dramatically. Loyalty The more sophisticated 3rd Gen
programs have made generational program is more of an ecosystem The most sophisticated loyalty
leaps in just a matter of years. The play. Multi-brand and tier-based, systems today are best epitomized
older types of programs are now these programs let members use by WeChat and TenCent in China.
failing to interest customers. The one card across a group of retailers. These umbrella loyalty programs put
value they deliver to oil and gas That allows for better customer everything a consumer needs under
companies is diminishing. And engagement. But these plans tend one roof, providing enhanced
players like Starbucks and WeChat to be more expensive for retailers convenience alongside rewards.
have changed the rules and and often fail to deliver meaningful These platforms can offer integrated
dynamics of what loyalty programs customer insights about each brand. experiences between the online and
can provide. offline channels, allowing retailers to
The likes of Barnes & Noble or some track behavior across the ecosystem.
Most oil and gas loyalty programs luxury retail brands epitomize the 4th
are 1st Gen or perhaps 2nd Gen. Gen. Customers receive privileges Oil and gas downstream players
They are generally point-based based on their purchases and should carefully consider how they
rewards cards where customers volumes — perhaps an invitation to play and who they play within this
accumulate points through fuel an exclusive fashion showing or free new world of loyalty programs.
39 Drilling down
Four factors to a successful loyalty program
1. Make it easy to use: Globally, more than six out of 10 consumers agree that loyalty schemes are
too hard to join and/or earning rewards is too tricky.13
2. Be clear about your purpose: Customers lose interest in schemes and programs that don’t
continue to deliver a clear value proposition to their lives.
3. Build awareness: More than one in three consumers who do not belong to any loyalty programs
say it is because they are not aware of any.14
4. Keep it fresh: Around half of consumers strongly agree that companies should find new ways to
reward loyal customers.
Five generations of customer loyalty

Generation 1 Generation 2 Generation 3 Generation 4 Generation 5
• Traditional, old • Rewards from points • Becomes aneco- • Rewards based on • Evolving into
school loyalty extended to include system play — one purchases & umbrella loyalty
program discounts on loyalty card provides volumes programs, covering
purchase (e.g. on access to group of all consumer needs
• Point-based fuel price) retailers • Rewards include in one roof
rewards that one privileges/
could select from • Also offer vouchers • Opens up program experiences (e.g. • Provide integrated
for additional to be multi-brand access to fashion customer
• Entry and point services (e.g. car event, exclusive experience across
accumulation based wash) • Tier-based points holiday) offline & online
on purchases program for more channels allowing
• Introduced targeted customer • Becoming paid 300 tracking of
product bundling & engagement programs — where buying behaviour
cross — selling there is upfront
offers (e.g. lubes revenue stream for • Many examples
with gas) better discounts/ from growth
shipping etc. markets like
WeChat, Tencent in
China, Tata Neu in
India
13
2019 Customer loyalty report, KPMG International, 2019
14
Ibid
40 Drilling down
Loyalty to data to insights to value
Customer loyalty isn’t just about the route from loyalty program to
getting closer to the customer and value is not straight. Oil and gas
increasing stickiness through
repeat visits and friend-and-family
companies will need to overcome
significant barriers and create new
Don’t
recommendations. But increasingly,
it is about customizing for the
capabilities to navigate that journey. underestimate
customer and creating value by
building trust, enabling personalized
Let’s start with the data. Today,
most customer data that oil and
the value
experiences and — perhaps most gas companies hold is stuck in Customer insights can
importantly — developing siloes. Those with a mix of deliver value to oil and gas
customer insights to engage corporate and franchisee-owned companies in many ways.
customers profoundly. It’s these locations face particular challenges We’ve already talked about
insights that are driving solid integrating and correlating their how insights can help
margins for retailers and helping data. To unlock the loyalty inform business model
them grow their share of the program’s value, oil and gas development, shore up
customer wallet. And it’s these companies should significantly margins and drive
insights that oil and gas companies mature their data collection and customer experiences.
will need to compete with new integration capabilities. Think a bit bigger, and you
downstream business models. can quickly see how
Technology is also a challenge. customer insights can help
Consider this: Retail giants are Older POS systems at forecourts oil and gas companies deal
believed to change their prices limit the amount of information that with significant strategic
millions of times a day. The average can be captured. Outdated shifts like the energy
oil major does about 650 price analytics capabilities mean that the transition.
changes per year. This allows most valuable insights remain
retailers to maximize margins in locked away in the data. Customer Customer insights will likely
near real time. But they can only do voice technologies are rarely used. be vital to forecasting the
this because they have profound You need the right tech stack to run shift from hydrocarbons to
insight into what their customers a slick 3rd or 4th Gen loyalty electrons. They underpin
want, what they are willing to program. the business case for new
spend and what value they are investments. They inform
looking for. They know when a Undoubtedly, the cost of decision-making around
customer makes a distressed undertaking this type of data and diversification into new
purchase and can play with price technology transformation is high. sources of energy and new
elasticity. And they know when a We know of oil majors who plan to distribution models. And
customer is just looking for the invest tens of billions of dollars into they will likely be critical to
lowest price. upgrading their technology stack ensuring that your company
over the next decade. Others are will remain relevant to your
Loyalty programs create the data. looking at how they might partner customers as the energy
The data holds insights. The with existing leaders to help transformation evolves.
insights deliver value — for the accelerate their progress at a more
customer and the shareholders. Yet reasonable cost.
41 Drilling down
From ambition to activation
You are committed to growing your Similar decisions should be made value of their existing sunk costs
downstream business. And you have around what processes should be and capabilities. Understanding
a good idea of what you want to be in automated, what can be what to build yourself, what you
the future. But getting from ambition outsourced and what should be can gain from partnering and what
to activation can be challenging. kept in-house. However, these you purchase may be vital to
decisions should be made within building your roadmap.
It will take careful thinking to navigate the context of each business.
the options and possibilities. Instead Those with sizeable franchise Ultimately, this is about securing
of building your own retail networks may need help to build a the right capabilities to envision and
capabilities, you could partner with an new system that works for multiple execute against your ambition. And
existing retail leader (or buy one). stakeholders; partnering to secure our view suggests that moving
Your retail partner may already have a a more agile technology platform from ambition to activation will
robust loyalty program and customer- may be the key. Those with require maturity in eight connected
centric capabilities. They may also customer loyalty programs or capabilities.
have a world-class technology stack. c-stores may want to consider the
These are cross-functional and
apply across the operating model.
Our data suggests companies
investing in these are twice as
likely to see an overall impact from
their investments.
Insight-driven Innovative Experience-
strategies products and centricity Each of the eight enabling
capabilities is underpinned by a set
and actions services by design of five sub-capabilities. The first
step in defining a winning model is
understanding your relative
2x
maturity in each sub-capability
against the required maturity to
Seamless Responsive deliver your winning business
model. In other words, start with a
interactions operations sober self-assessment of the
and and supply strength of your capabilities across
commerce chain these eight areas. Then begin to
Impact think about how you bridge the gap
between where you are and where
you want to be.
Digitally- Integrated The bottom line is that the world

Aligned and
enabled partner and has changed. Oil and gas
empowered companies have no choice but to
technology alliance
workforce transform and diversify. But to
architecture ecosystem achieve that, they will need to gain
a much better understanding of
their customers.
42 Drilling down
Key takeways
1. Customer-centricity is key to oil and gas company survival.
2. Yet competition for the customer is tight, and expectations are high.
3. Loyalty programs can provide important customer insights.
4. Oil and gas companies will need to radically rethink their downstream models and capabilities and
focus on creating value from customer programs.
5. This will require a much more connected enterprise and ecosystem of partners.
How KPMG can help

Digital disruption and rising customer
expectations create unforgiving
markets where loyalty is hard-won and
easily lost. If you can’t deliver what
your customers want, when and where
they want it, they will go to someone
who can. But there is no point in
creating a breakthrough customer
experience if the new business model
runs at a loss. KPMG teams offer
services that can help you achieve
profitable, sustainable growth through
customer-centric thinking. This is all
about getting close to your customers
and staying there. KPMG firms are
committed to helping drive the Oil &
Gas industry forward — no matter how
complex the challenge — to create
enormous value for shareholders and
society.
43 Drilling down
About the authors
Manas Majumdar Paul Martin Sushant Rabra Narmin Vasanji Eric Wesselman
Partner and National Chair Global Retail Partner, Digital Prairies Partner, Head of
Leader — Oil & Gas, Steering Group & Advisory, Management Digital
Chemicals, Head of Retail UK, KPMG in India Consulting Transformation
KPMG in India KPMG in the UK Geographic Leader, Advisory,
KPMG in Canada KPMG in the
Netherlands
Manas Majumdar Paul is the Head of Sushant has Narmin is a Partner Eric is a partner at
leads the Oil and Retail for KPMG in the 17 years of at KPMG in Canada KPMG in the
Gas and Chemicals UK. He is an experience at and Geographic Netherlands and is
practice in India, experienced corporate and Leader for the responsible for our
primarily anchored international business government levels Management Digital
in strategy and professional with over across the globe, Consulting practice Transformation
transformation work 15 years of experience driving in Calgary. She is Advisory practice in
in this space. His in consulting, market transformation an experienced the Netherlands.
recent focus has research and strategies. program leader Eric supports our
been on digital operational roles Sushant‘s with over 20 years clients with the
transformation and focusing on the retail specialization is on of professional innovation of their
how to leverage and consumer goods Digital services business models,
digital technology to sectors. Before transformation, experience to the digital
grow across Boxwood, Paul spent covering emerging clients in various transformation of
markets and build over a decade working technologies, industries including their organization
efficient operations. in leading macro- including oil and gas, power and the supporting
In addition, he has economic, retail and Blockchain, 3-D and utilities, retail processes. He
supported both consumer research printing, Drones, IoT and public sector. supports our clients
government and companies: the and related fields. Narmin focuses on in designing their
private sector Economist Intelligence He has advised helping Digital Strategy and
clients in areas such Unit and Planet Retail. large multinational organizations IT Strategy,
as market reform At Planet Retail, he companies, public transform their executing their
and preparedness, had overall P&L sector organizations, corporate services digital journey
strategic growth responsibility and led SMBs, and functions through management and
plans and product- the business as regulators on process, orchestrating their
market strategy, Managing Director, applying such organization and digital enabling
business increasing revenues solutions. Sushant technology ecosystems. Cloud,
restructuring, threefold between has worked with changes. IoT, Data &
operations 2007 and 2012. Paul KPMG in the UK Analytics, Mobile
performance has worked with many and India and has Apps, Blockchain,
improvement, cost of the world’s leading served clients in and Robotics are
optimization and retail, consumer goods Europe, Africa, among the
supply chain and professional Southeast Asia, and technologies Eric
transformation. services companies. the Middle East. His and his team apply
He specializes in engagements often to help our clients
understanding global have been with the transform and
macro-economic, board of directors, future-proof their
industry and consumer CXOs and other digital businesses.
trends and translating senior leaders,
these into actionable helping them chart
strategies for the out the technology
programs he works agenda for the
with. organization.
44 Drilling down
Data, digital and technology
transformation
The combination of talent and intelligent automation and artificial
technology leads to a greater ability intelligence technologies to build KPMG recognized as a Forrester
to provide excellent customer and deliver customized business Wave Leader in Customer
service, improve operational solutions for clients. Experience Strategy Consulting
efficiency, and gain a competitive
advantage. Undoubtedly, digital KPMG has strategic relationships “KPMG has a robust approach to
transformation should lead to across the emerging technology employee CX training, offering a
positive outcomes, whether landscape — including Microsoft, formal academy that provides
streamlining processes, harnessing Oracle, IBM Watson and Google. learning opportunities through
data, or forming entirely new ways We co-innovate with our alliances different modes and that can
to do business. This is about to build leading technology integrate with its clients’ learning
uniting every piece of the solutions, helping amplify the value management systems. The firm
enterprise for a common goal. and capabilities member firms accelerates clients’ culture change
provide to clients. efforts through hands-on behavioral
Businesses today can face coaching for executives, and it uses
uncertainty with confidence thanks Trust underpins our approach to multiple methods to influence
to digital transformation triumphs. data, digital, and emerging employee behavior — including
Today, customer-centric technology technologies. KPMG professionals rewards and recognition programs.
strategies are considered vital can help you take advantage of the KPMG continues the culture
survival tools for businesses due to opportunities created by new transformation with its strong
the performance improvements technologies through proactive library of assets to align the
they have achieved to date. governance models, transparency ecosystem, including pre-built
and controls. As a result of our target operating models — some of
With a global network of over expertise in assessing and solving which are sector-specific.”
14,000 data and technology clients’ most pressing business
professionals — including leading challenges, KPMG is consistently Source: The Forrester Wave™: Customer
Experience Strategy Consulting Practices,
data scientists and engineers — identified as a leader in various key Q4 2022
member firms can leverage the analyst reports.
latest KPMG data, analytics,
KPMG brand and risk consulting services received top score by clients and prospects.
KPMG ranked number one for ‘current brand score’ among risk advisory firms and for the quality of our
Security services. KPMG received the highest score of the 16 vendors evaluated in this category — a high
achievement determined by clients and prospects alone. This ranking is based on mindshare, our level of
credibility, authority, and competitive resilience — and topping this ranking recognizes our brand as the
strongest in clients’ minds today.
Based on 300 responses to a survey of senior clients of consulting firms and featured in Perceptions of Risk Firms in 2021
published by Source Global Search.
Click here for more information about KPMG‘s capabilities and innovation by leading analyst firms.
45 Drilling down
KPMG’s Global Energy Institute
The KPMG Global Energy Institute
(GEI), launched online in 2007, is a
worldwide knowledge-sharing
platform detailing insight into
current issues and emerging trends
within the Power & Utilities and Oil
& Gas industries. The GEI helps to
shed light on key topics ranging
from upstream volatility, midstream
constraints, industry consolidation,
shifting customer demands and
new technologies, alternative and
renewable energy, smart grid
technology and transformation,
evolving regulatory and statutory
requirements, and financial
reporting and tax updates.
The GEI interacts with its over

40,000 members through various
channels, including webcasts,
publications and white papers,
podcasts, events, and quarterly
newsletters. The institute works
together with member firm clients,
external partners and the global
KPMG network of energy experts
in analyzing some of the most
pressing challenges facing the
industry. It also develops practical
solutions for an increasingly
complex energy environment.
A complimentary GEI membership

is an effective way for energy
executives to gather the latest
information on industry trends and
help meet their continuing education
requirements. Members receive
early alerts and invitations to thought
leadership, studies, events, and
webcasts about key industry topics.
To receive timely updates and

insights relevant to the oil and gas
industry, become a KPMG Global
Energy Institute member today by
visiting kpmg.com/energy.
46 Drilling down
Acknowledgements
The planning, analysis, writing, and production of this report would not have been possible
without the collaboration of colleagues around the world. Thank you to Les Der,
Chris Downing, Lyndie Dragomir, Nicole Duke, Eileen Ryan, Peter Schram, and Hillary Swallen.
Contacts
Anish De Manuel Fernandes
Global Head of Energy, Natural Regional Energy & Natural Resources
Resources, and Chemicals Co-Leader for Americas and National Oil &
KPMG International Gas Leader
E: anishde@kpmg.com KPMG in Brazil
E: mfernandes@kpmg.com.br
Valerie Besson Angela Gildea

Regional Energy & Natural Resources Regional Energy & Natural Resources
Leader for Europe/Middle East/Africa Co-Leader for Americas and National
(EMA) and National Sector Leader, Sector Leader, Energy, Natural
Energy and Utilities Resources and Chemicals
KPMG in France KPMG in the US
E: valeriebesson@kpmg.fr E: angelagildea@kpmg.com
Alex Choi Sushant Rabra

Regional Energy & Natural Resources Global Data, Digital and Technology
Leader for Asia Pacific (ASPAC) and Leader for Energy and Natural Resources
Head of Energy and Natural Resources KPMG in India
KPMG China E: srabra@kpmg.com
E: alex.choi@kpmg.com
kpmg.com/drillingdown
kpmg.com/socialmedia
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor
to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be
accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
KPMG refers to the global organization or to one or more of the member firms of KPMG International Limited (“KPMG International”), each of which is a separate legal
entity. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. For more detail about our structure please visit
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The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization.
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Drilling down

Oil and Gas Magazine

By Jeff Monk, Chief Marketing Officer, US Energy Industry, Microsoft Corporation;

The strong portfolio of KPMG and

The strong portfolio of

Jonathon Peacock Rohit Ravindran

Digital twins overview

Physical Twin Digital Twin

asset, system or process analysis, simulation

Source: KPMG Analysis

Digital Twin Functionality

Remotely identify and Remotely monitor facilities Continuously optimize

Rapidly, remotely, Generate real-time, Optimize maintenance

Digital twins overview

30.0 Remote visualization

KPMG firms experience suggests

KPMG professionals can help by

KPMG professionals can

Kimberly Sorensen Candice Wilson

80% 78% Key

Investing in technology or analytical trainings

Building a data driven culture

Defining governance and controls

Defining a data strategy

Source: KPMG, 2022 Chief Tax Officer Outlook

2 Capitalize on ERP upgrades

3 Empower ESG with data and analytics (D&A)

4 Embrace intelligent automation

5 Explore managed services

6 Transform with people in mind

Adapting to changing business needs

Keeping pace withregulatory change

Enabling a holisticview of tax activities

Improving financial reporting accuracy

Predicting and identifying p

31% 26% 19% 19% 3%

Source: KPMG Global Tax Benchmarking Survey 2021

KPMG professionals are

Jeff Dodson Carlo Franchina

Note: Home delivery trend made more

Consumers’ forecourt visits

Forecourt centred around ‘distress’

Market Size (2022):

US$ 224 billion

50% other products)

In the future, consumer demand for Future

Convergence (Retail + adjacent services)

Fuel 20% Retail &

Technology to have an over arching presence all across

Five generations of customer loyalty

Digitally- Integrated The bottom line is that the world

3. Loyalty programs can provide important customer insights.

How KPMG can help

The GEI interacts with its over

A complimentary GEI membership

To receive timely updates and

Valerie Besson Angela Gildea

Alex Choi Sushant Rabra

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