Abstract

Throughout history, global oil and gas industry has been driven by innovation. Especially since the 21st century, innovation-driven development has become the strategic choice for oil and gas companies throughout the world to enhance their core competitiveness, strengthen their comprehensive strength, and achieve sustainable development. In this paper, both theoretical research and case study, as well as qualitative and quantitative analysis are applied, and the innovation-driven development cases of 10 major oil and gas companies at home and abroad are studied. Based on the analysis and study, we summarize the features of innovation-driven development in the oil and gas industry, build the index system and "wheel" model for innovation-driven development capacities in terms of technology, management, talent and culture in the oil and gas industry, conduct enterprise case study, and provide a theoretical basis and data method for oil and gas industry to achieve innovation-driven development in a more efficient way.

The concept of "innovation-driven" development was first established by Michael Porter, a famous management scientist, as a country's development stage in the 1980s. It is mainly defined as a power-driven economic growth driven by innovation elements and investment. At present, it has become a development model generally recognized by countries, sectors and enterprises. Through analyzing a large number of domestic and foreign literatures and examining the current development of the oil and gas industry, we believe that we should study innovationdriven development by understanding both innovation and driving, namely, through innovation, we will drive development. In the oil and gas industry, to promote innovation-driven development, we must give full play to the role of innovation elements, enhance innovation-driven development capacities, help make more innovative achievements and apply them widely in production and commerce, keep generating new growth momentums, and achieve sustainable business development.

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