The Future of the Oil and Gas Industry
Industry trends shaping future business opportunities.
Volatile oil prices, coupled with increased competition from renewable energy sources, have complicated planning and investment. The changing environment makes allocating capital difficult for multi-year time horizons and major technology initiatives.
New regulations are escalating required monitoring and compliance efforts. Companies must invest in robust systems to meet these demands, while also addressing the rising expectations for sustainability and transparency in their operations.
Choosing which emerging technologies and trends to invest in creates challenges and tensions for oil and gas organizations, particularly when these innovations have the potential to disrupt existing operational technologies (OT).
Our Advice
Critical Insight
The oil industry of the future will leverage technology trends across the entire operational lifecycle and benefit from the mutual reinforcement of the technologies and their value. Creating implementation plans that are scalable and holistic before starting pilot initiatives is of paramount importance.
Impact and Result
- Perform a broader scan to highlight the demonstrated and relevant trends in technology services.
- Help organizations understand the trends to navigate the opportunities and challenges of tomorrow.
- Highlight the impacts of the trends on both provider businesses and their customers.
- Guide organizations through actionable recommendations and next steps.
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Unlock Sample ResearchContributors
One anonymous vendor contributor, Director of Sales, Oil Field Production Software