A pragmatic perspective on demystifying digitization in oil and gas
After a few years of small-scale pilots, leading oil and gas companies are making real strides in digitization. They have recruited chief digital officers, have designed digital strategies and established business units to promote them, have partnered with technology firms, and are striving to create a culture that nurtures new ways of working. These leading companies are deploying more new technologies, such as digital twins and drones, in the field.
At the same time, however, many operators, oil field service companies, OEMs, and others remain at an early stage of digital development. They may not have the same kind of financial resources, workforce, or capabilities as the so-called super maiors.
Our report provides examples of companies exploring digital solutions and analysis of how those companies have been transformed by new technologies. We also share lessons from those undertaking their own digitization journeys. Wherever you are in your digital transformation journey, we hope you'll find relevant insights here.
“Data and analytics capabilities are an important building block in enabling a data-driven approach that can transform businesses.”
Unsure what your first step toward digitization should be? Take a look at the common challenges we help business leaders address in these five case studies.
As you decide where to focus your digital efforts, who to partner with, and how broad your aspirations for transformation should be, consider these five steps.
Establish the business problem that needs to be addressed and how digitization technology can help resolve the issue.
Know that whatever the objective, a strategy will be required to deliver this ambition.
Decide which part of the organization to digitize first, and then consider how to keep track of lessons learned that can inform the broader process of enterprise-wide transformation.
Assess how the operating model, processes, and culture of an organization will be affected by these changes.
Identify the partners that will support the delivery of this ambition. These partners will be critical to providing the technology, fostering innovation, designing the digital strategy, and helping implement the operating model.
Principal, PwC United States
Partner, PwC Norway
Adrian Del Maestro
Director, PwC United Kingdom