Digital Transformation in Oil and Gas

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This month, oil and gas leaders got together in Houston to discuss how the industry is progressing digital transformation efforts. The event, held by simulation software company Ansys, highlighted enthusiasm for digital transformation and net-zero emissions. 

Speakers and panelists discussed the core challenges and opportunities that those of us in the industry continue to face:

  • Digital transformation is key to meeting energy demand and emissions goals

  • It’s tough to know which digital initiatives to prioritize, how to track them, and when and how to scale

  • The path through the energy transition is blurry and winding, and data will continue to play a more important role

One presenter, Andrew Meyers, research director for oil & gas at IDC Energy Insights, brought in the numbers:

  • By 2023, an estimated 75% of oil and gas companies will have enterprise-wide ESG platforms that measure and report carbon emissions in real time.

  • By 2024, 60% of midstream and downstream players will have increased spend on data contextualization and management.

  • By 2026 more than 50% of oil majors will use digital twins to efficiently design, operate, and manage renewable assets.

Read Kurt Abraham’s full event overview in World Oil. 
Looking for other events on digital transformation in energy? Look no further. Join us for the Energy Drone & Robotics Summit in June and/or EnergyNEXT Week in October.