Summary of Going Digital Is Hard for Oil and Gas Companies – But the Payoff Is Worth It

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Going Digital Is Hard for Oil and Gas Companies – But the Payoff Is Worth It summary
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Rating

8

Qualities

  • Analytical
  • Overview
  • For Experts

Recommendation

Digital technologies have reached the oil and gas industry. But according to professionals at the Boston Consulting Group, companies can undergo a true digital transformation if their leaders embrace change management as well as specific tools. By adopting processes that meld skills in data science and artificial intelligence with traditional industry practices, firms can increase cost efficiencies, enhance productivity, and improve speed and profitability over the value chain. Energy company executives will appreciate this cogent and highly readable analysis.

About the Authors

Marie-Hélène Ben Samoun et al. are professionals with the Boston Consulting Group.

 

Summary

Some oil and gas firms are joining in the technology revolution. The sector is fertile ground for digital transformation across the continuum of exploration, field development, drilling operations and production in the pursuit of scalable benefits. But change is difficult in an industry that deals with physical challenges and safety priorities, and concepts such as failed experiments are at odds with many companies’ operating culture.

Additionally, the industry’s extensive use of data processing and automation, albeit on a piecemeal basis, has given insiders a belief that they are up-to-date with the benefits of digital...


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