There is an enormous amount of interest in and expectation around the benefits that digitalization could bring to the Oil &Gas sector. The trend toward digital innovation is accelerating across the sector. Digitalization can bring various benefits to day-to-day operations and cost reduction. For condition monitoring, specific, industry, historical and real-time data lets operators improve maintenance and inspection regimes.
Real-time data from wells will allow timely decisions on underperforming wells and other potentially high-cost issues. Detecting anomalies during drilling and operations will enable more effective decision making that can deliver cost savings.
There are also benefits for health, safety, security and environment (HSSE) performance. Digital technologies can help the Oil&Gas industry cut capital expenditure by 20% and improve global cash flows to the tune of $300 billion by 2025.