There are many drivers for transitioning an asset’s operatorship, whether it be seeking a more cost-effective operations model in a challenging market environment, the sale of aging depleted assets or the need to upgrade operations to support business strategy. This paper will detail the opportunities and complex elements involved with transitioning an asset’s operatorship from operations philosophy to personnel, procurement, logistics, engineering, maintenance and integrity. The transition process is best approached as a standalone project with a disciplined and robust execution methodology. Building a safe working culture is critical to the establishment of a strong operatorship, requiring collaboration among all parties, as well as strong alignment of objectives. This paper will provide an overview of the elements to be coordinated during the transition of an asset’s operatorship, sharing insights from recent transitions of asset operatorships to highlight the challenges and opportunities.