Why COVID-19 is Accelerating Cloud and New Technology Adoption in the O&G Industry

The oil and gas industry has undergone a tectonic change since the start of the COVID-19 crisis. The demand destruction that ensued from the crisis has forced upstream companies to operate in a radically different environment. As commodity prices track “lower for longer,” the mantra for success has changed from gaining access to new resources and delivering greenfield projects to delivering best-in-class operational performance from existing assets at the lowest cost. Impending energy transition led by a desire for decarbonization is another macro challenge that is likely to expand the industry’s core role as a provider of heat, light, materials, and mobility to society.

The industry needs a transformational strategy to weather this crisis and emerge stronger. The solution lies in technology integration to enable a paradigm of truly integrated asset management.

Article contents include:

• Tackling the Costs of Technical Debt
• Increasing Speed of Deployment
• Automation and Mobility
• Hybrid Cloud Advantage
• Embrace the Modern Cloud Architecture: The Future is Now