Data Driven Oil & Gas USA 2024
It’s no secret that oil & gas is a boom-and-bust industry, and with production projected to increase to 13.7 million barrels a day in 2024, it’s currently on the up. But this won’t last forever. The window of opportunity to maximize production, optimize efficiency and take advantage of increased profits is closing quickly, and digital transformation holds the keys to capitalizing on this.
For upstream stakeholders looking to deliver safe, efficient and sustainable energy, data-driven production must be top priority. Yet boardroom resistance to change, innovation fatigue and the complexities of implementation threaten to hold back digitization. To deliver digital transformation and embrace data-driven innovation, industry stakeholders must provide evidence of ROI to the industry’s purse string holders and secure budget for future projects.
Those who fail to tackle these challenges urgently and collaboratively risk falling behind in the race to innovate, and ultimately, lose market share.
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.