• About
  • Subscribe
  • Contact
Thursday, May 8, 2025
    Login
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
No Result
View All Result
No Result
View All Result
Home Technology Business Applications & Databases

Benefits of digitalisation to the oil and gas industry

FutureCIO Editors by FutureCIO Editors
May 18, 2022
Photo by Jan-Rune Smenes Reite from Pexels: https://www.pexels.com/photo/offshore-drilling-rig-on-body-of-water-3216911/

Photo by Jan-Rune Smenes Reite from Pexels: https://www.pexels.com/photo/offshore-drilling-rig-on-body-of-water-3216911/

GlobalData says the adoption of digital technologies such as artificial intelligence (AI), big data, cloud computing, cybersecurity, the Internet of Things (IoT), and robotics in day-to-day oil and gas operations, is enabling the oil and gas industry to improve productivity and profitability by streamlining operations and cutting costs.

GlobalData’s Digitalization in Oil and Gas – Thematic Research reports that digital technologies can deliver actionable insights for an oil and gas asset and help companies to reduce their capital and operating expenditures.

Ravindra Puranik, Oil and Gas analyst at GlobalData, says the adoption of digital technologies in the oil and gas industry has been previously hindered by the shortage of skilled technicians, concerns over data security, and cost-benefit uncertainty for adapting ageing assets.

However, he observed that since the technologies can transform the industry and create a synchronised ecosystem to meet future energy demands, an increasing number of oil and gas companies are upgrading their assets with digital technologies for long-term gains.

“Minimising equipment downtime while enhancing operational performance remain key focus areas for increasing company revenues. There is also a growing emphasis among producers on digitalising workflows to enhance operational visibility for improved decision making,” he continues.

Recommended reading: PodChats for FutureCIO: Reshaping the future of the energy sector

Another GlobalData report, Augmented Reality (AR) in Oil and Gas – Thematic Research, noted that oil and gas companies can use augmented reality (AR) as part of their knowledge capture and transfer strategy, as well as for remote collaboration between field workers and experts.

"This enables semi-retired workers to work from home while still providing support to field technicians, overlaying annotations and instructions onto their field of view,” explains Francesca Gregory, associate analyst at GlobalData.

She adds that AR has the potential to substantially increase the efficiency of workflows in the upstream sector.

Leading oil and gas players are increasingly collaborating with technology vendors in a bid to develop custom digital solutions that address their needs. For instance, France's TotalEnergies has collaborated with IBM to develop predictive drilling analytics to aid precision drilling.

Similarly, Norway's Equinor has developed and deployed its digital twin, Echo, in its North Sea operations by leveraging its exploration and production expertise in the region. Concepts such as digital twins and predictive maintenance are increasingly being modified to suit the different use cases of the oil and gas value chain.

“Digital technologies are improving the oil and gas industry by streamlining processes and creating new frontiers for operations. These technologies are well suited to tap new hydrocarbon deposits, boost operational efficiency, and reduce methane emissions,” Puranik concludes.

Related:  GenAI drives hyperscale data centre capacity to triple by 2030 
Tags: augmented realitydigitalisationGlobalDataOil & Gas
FutureCIO Editors

FutureCIO Editors

No Result
View All Result

Recent Posts

  • Agentic AI-powered AppSec platform launched for the AI era
  • IDC forecasts GenAI alone will grow at a 59.2% CAGR
  • Dataiku brings new AI capabilities to create and control AI agents
  • Microsoft reveals the rise of a new kind of organisation in the AI era
  • St Luke’s ElderCare enhances data security and user experience with Juniper

Live Poll

Categories

  • Big Data, Analytics & Intelligence
  • Business Applications & Databases
  • Business-IT Alignment
  • Careers
  • Case Studies
  • CISO
  • CISO strategies
  • Cloud, Virtualization, Operating Environments and Middleware
  • Computer, Storage, Networks, Connectivity
  • Corporate Social Responsibility
  • Customer Experience / Engagement
  • Cyber risk management
  • Cyberattacks and data breaches
  • Cybersecurity careers
  • Cybersecurity operations
  • Education
  • Education
  • Finance
  • Finance & Insurance
  • FutureCISO
  • General
  • Governance, Risk and Compliance
  • Government and Public Services
  • Growth Strategies
  • Hospitality & Tourism
  • HR, education and Training
  • Industry Verticals
  • Infrastructure & Platforms
  • Insider threats
  • Latest Stories
  • Logistics & Transportation
  • Management Leadership
  • Manufacturing
  • Media and Telecommunications
  • News Stories
  • Operations
  • Opinion
  • Opinions
  • People
  • Process
  • Remote work
  • Retail & Wholesale
  • Sales & Marketing
  • Security
  • Tactics and Strategies
  • Technology
  • Utilities
  • Videos
  • Vulnerabilities and threats
  • White Papers

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO

Categories

  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Management Leadership
    • Growth Strategies
    • Finance
    • Operations
    • Sales and Marketing
    • Careers
  • Technology
    • Infrastructure and Platforms
    • Business Applications and Databases
    • Big Data, Analytics and Intelligence
    • Security
  • Industry Verticals
    • Finance and Insurance
    • Manufacturing
    • Logistics and Transportation
    • Retail and Wholesale
    • Hospitality and Tourism
    • Government and Public Services
    • Utilities
    • Media and Telecommunications
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Subscribe