Leading from the Front in Reinventing the Energy Industry

With India’s rapid economic growth path, the energy value chain is filled with new, exciting opportunities. Businesses that setup and leverage a strong digital core and take the reinvention route are best placed to lead the charge in an ever-evolving industry like that of energy.

We led from the front in putting forth our reinvention agenda in the energy space at the India Energy Week (IEW) held in Goa recently. Our industry leaders shared their thought leadership around energy security, energy transition, energy efficiency, decarbonization, and supply chain excellence through multiple panels and technical discussions at the event. As the Enterprise Transformation Partner of IEW, we shared critical insights on new opportunities of innovation and excellence in the energy space.

Here are key moments from our participation at India Energy Week 2024.

Fueling Growth and Sustainability

Energy security and decarbonization are critical aspects of energy transition and sustainable future. Hari Shankaranarayanan, Managing Director and Lead – Energy, Accenture in India, moderated a session on ‘Accelerating the opportunities towards oil and gas decarbonization’ that explored actionable strategies for ensuring knowledge, infrastructure, and technology transfer between traditional and non-traditional energy players to realize a flexible energy system. The session highlighted the need for an acceleration of digital technology adoption in the conventional oil and gas industry, and the need for industry and government investments in coalbed methane and policy support for carbon credit and carbon trading frameworks. Read More

Another opportunity that energy organizations in India must leverage is the rise of Global Capability Centers (GCCs) in India and their evolution from traditional cost optimization centers to hubs of innovation and transformation. In a session on ‘India's Excellence - unleashing Global capability centers’, Prabhjit Didyala, Managing Director – Energy, Accenture in India, discussed how India is at the forefront of driving innovation with GCCs, and leading global operations across various industries – along with Monte Dobson, CEO, ExxonMobil India. The panel discussed that, to gain competitive edge, India must invest in skill development, ensure policy revisions, and set up more SEZs. ?Read More

Unlocking Digital-led Operational Excellence

We also shared ideas and trends on the role of data analytics, smart technology, and advanced monitoring systems in energy production, consumption, and distribution at IEW. Shridevi Bale, Managing Director and Lead – Resources, Advanced Technologies Centers of India, Accenture, spoke at a session on ‘Unleashing the power of data for energy transformation’ – highlighting the need to leverage data for seamless energy transition, power cost and supply optimization, and building data security frameworks.

To put Accenture’s digital initiatives in focus, Shreyansh Upadhyay, Principal – Energy, Accenture in India, presented a use case on how we helped a large Indian exploration and production company unlock innovation and value with digital transformation initiatives. He spoke at a session on ‘Achieving operational excellence with intelligent automation and technology.’

Sparking Success with Resilient Supply Chain

Creating resilient supply chains in the industry begins with an increased adoption of R&D, manufacturing, top talent, government incentives, policy revisions, and information sharing. Piyush Patel, Managing Director and Lead - Industry X, Accenture - Growth Markets, discussed this and more while moderating a strategic session on ‘How to build and manage a resilient supply chain in times of economic uncertainty’. The session saw eminent manufacturing and energy experts discuss key needs, challenges, learnings, and strategies for adaptive manufacturing and agile supply chains by policy makers and Governments – while ensuring both conventional and new energy supply chains are maintained. Read More

Taking the supply chain narrative forward, Tarun Jain, Managing Director – Energy, Accenture in India, spoke on unlocking accuracy and efficiency through intelligent, data-led demand forecasting – in a session titled ‘Maximizing Logistics and Supply Chain Efficiencies: Towards Decarbonisation.’

Optimizing the Future of Work

While the above strategies and innovations in the energy industry are building blocks of a sustainable future, a crucial aspect is often overlooked. At a strategic panel discussion titled, ‘From empowerment to leadership: advancing the roles of women in future of work,’ Preeti Kaushal, Managing Director and Lead – Sustainability for Resources, Accenture in India, shared her views on the need to enhance diversity and inclusion in the oil and gas sector in India. Panelists discussed the importance of enforcing leadership commitment, setting clear goals, and ensuring unbiased promotion pathways to create a diverse and inclusive environment in the industry. The panel resolved to come together and form a mentoring group for women in the energy industry to collaboratively lead the change on ground.

Accenture is ready to help as you begin to re-imagine your business. If you’d like to know more about how we can partner with you in your Reinvention journey, please feel free to contact us.

Get the Accenture Foresight App for the latest business and technology reports and analyses delivered to your mobile. Download now: App Store | Google Play.

For careers in Strategy & Consulting at Accenture, please visit our?Careers Portal