Oil firms develop new growth approach outside budgets

Major European oil companies are turning towards adopting a new model focused on establishing independent production companies that operate separately from their parent corporations. The goal is to strike a balance between seeking new sources of growth and maintaining financial discipline. These companies, such as "Pure Energy," "Adora," and "Sira," pool their investments through private debt and are not included in consolidated financial statements. This approach offers greater flexibility and more efficient management of small and medium-sized projects. This model is a response to the ongoing transformation in the energy sector, enabling cost reductions and economies of scale, while also reducing financial risks and achieving sustainable cash flows. However, there are risks related to the difficulty of assessing these companies over the long term and managing their corporate culture. It is expected that joint ventures will account for approximately 28-31% of the major companies’ spending on oil and gas this year.

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