Our review of Professor Giovanni Dosi’s 1988 paper “Sources, Procedures, and Microeconomic Effects of Innovation” has provided us with the evidence that the Joint Operating Committee is the “innovation” framework for all oil and gas producers. Identifying the “innovation” framework as part of the Joint Operating Committee along with the legal, financial, operational decision making, cultural, communication and strategic frameworks. People, Ideas & Objects Draft and Preliminary Specifications identify and support the Joint Operating Committee as the key organizational construct of the innovative oil and gas producer. We provide this by moving the compliance and governance frameworks of the hierarchy into alignment with the seven frameworks of the Joint Operating Committee. Enabling a greater speed, accountability and innovativeness of the producer.
It is now time for producers to act. Review of our Revenue Model will inform producers how they can participate in the development of People, Ideas & Objects Preliminary Specification. Producers can contact me here for further information, or to begin the process of their participation.