Realizing the potential value of digital transformation for Upstream Oil & Gas
Renewed attention on digitalization initiatives for 2020 and beyond present both opportunities and challenges for the oil and gas industry where a low-price environment makes managing costs, timelines and operational efficiency crucial to success.
E&P operators face a host of challenges including major shifts that are impacting operational costs and the impending decline in hydrocarbon demand over the 30-year time horizon. Stakeholders in upstream oil and gas have limited time to maximize the value of digitalization to help develop and bring assets to market before price erosion and competition undermine their profitability. Ready access to smart devices and ultra-wideband networks alongside recent innovations in technology, techniques and information systems have provided new opportunities and redefined what digitalization can offer to our industry for those who know how to tap into the value of data from millions of wells and related assets.
IHS Markit provides insights, consulting, strategic analysis, data management solutions and analytics-ready software to help our customers plot a customized roadmap for successful digitalization enterprise-wide. With access to unrivaled coverage and continuously enriched analytics-ready data and backed by full-cycle data management and modern delivery options, our upstream digitalization team can provide the expertise and guidance needed to extract maximum value from digital transformation.