In an environment where oil production continues to increase while prices have dropped 61% since 2014, operational efficiency gains even more significance. The need for operational efficiency coupled with maturing technologies represent an inflection point for disruption. The traction of technology trends such as analytics, robotics, sensors, and control systems offers companies the opportunity to accelerate field automation in a pervasive manner.
Technology is rapidly shifting from being the legacy enabler to being more of the game changer. Oil and Gas companies that respond to the shift towards efficiencies by building sustainable digital capabilities will be tomorrow’s winner.
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The perspective in the Oil and Gas industry has shifted to view digitization as a critical component of core business.
US Energy, Utilities & Mining Advisory Leader and Global Energy Advisory Leader, PwC US