Oil & Gas: Transforming through digital technology
The Oil & Gas industry is turning to digitalisation as the potential to save billions of dollars in efficiency continues to demonstrate potential long-term benefits
The oil and gas industry has recently experienced one of its worst downturns, driven by multiple factors including a sharp supply-side disruption where heightened production flooded the global market with an oversupply that reached as much as 1.8 million barrels of oil equivalent (BOE) a day in 2015.
In a time where other industries have embraced digitalisation with great speed and relish, oil and gas has been somewhat lethargic. However, this is changing as the potential impact of effective digitalisation continues to be demonstrated in terms of billions of dollars saved in efficiency along with a slew of other long-term benefits.