The importance and potential unleashed by digitizing the oil and gas industry cannot be overstated. Some facts and figures:
- 1% improvement in oil and gas capital utilization could total $90B in avoided CAPEX (EDN Network)
- 125 billion barrels of additional oil reserves [could be recovered] over ten years if digital technologies [are] aggressively deployed. (GE - Industrial Internet - Pushing the Boundaries of Minds and Machines)
With oil and gas among the industries least likely to adopt advanced technologies (Stats Canada), it is clear that education and awareness of available digital technologies and their benefits must be communicated and promoted to a greater extent in industry.
Accenture, General Electric, and JuneWarren-Nickle's Energy Group compiled a comprehensive report on the future of digital technology for oil and gas, and the value these technologies can provide.
Does your company use digital technologies to optimize operations?