89% of O&G execs agree: Increasing digitization is an important investment
In this era of low oil and gas commodity prices, improvements to processes and technology efficiencies are emerging as critical success factors. According to an Ernst & Young survey, 89 percent of the polled global oil and gas executives expect to increase their investment in digital technologies over the next two years. This result affirms the idea that smart, forward-thinking oil and gas companies recognize that digital transformation can help them improve current processes and meet future needs. Justifying the financial benefits is always one of the toughest challenges of any organizational investment. Fortunately, there’s no doubt of the economic advantages of implementing these new tools. For example, the World Economic Forum estimates that digital transformation in the oil and gas industry could potentially create around $1 trillion of value for oil and gas companies. Technology breakthroughs in the industry can also enable efficiency improvements without high CAPEX and O...