The paper presents an overview of research into the methods and principles used to assess the innovative potential of an oil and gas company. The validation is provided for the conceptual framework of the innovative potential, which is characterized by a combination of resources having a specific value for the oil and gas sector. The paper gives a detailed overview of the resources, which determine the innovative potential of the oil and gas company. A system of indicators for assessing the innovative potential of the oil and gas company, including six indicator groups, has been proposed. Key distinctive features of the oil and gas company technological development have been determined based on the use of potential for innovation at different stages of the field development. Technical and economic indicators of the oil field development at different stages are described. A concept of Intelligent Field technology is outlined, representing an innovative system, implementation of which determines a level to which the potential for innovation of the oil and gas company is tapped.