The energy companies are increasingly looking to embrace digital technology to boost productivity and gain a competitive advantage in the continually evolving energy industry. Notably, for oil and gas companies that are already struggling with low oil prices and moderating operational gains, adopting leading-edge technologies would enable them to weather the downturns that the oil and gas sector is prone to. Besides, digitalization necessarily eliminates several human touchpoints, thereby ensuring business continuity during unforeseen circumstances such as these.
As a result, technologies such as artificial intelligence (AI), cloud computing, and the internet of things (IoT) are drastically transforming the operating landscapes of oil and gas companies today. Notably, the companies are leveraging AI-based tools to digitize records and automate critical analysis, which can lead to the potential identification of opportunities and risks. They can also gain crucial insights to improve their business outcomes in their upstream processes by integrating AI software.
Cloud computing is another technology that is going to have a stride in the coming years. Cloud applications have attracted considerable interest, with information and technology (IT) giants like Google and Microsoft partnering with oil companies over the past year to deliver cloud solutions to the oil and gas industry. Moreover, cloud computing facilitates for greater digital connectivity on projects between different areas, allowing gathered data from multiple sources to quickly and effectively be integrated for improved digital planning and increased efficiencies. Equally important technology that is significantly aiding in the communication of oil and gas companies is IoT. In addition to better field communication, IoT technology plays a substantial role in the space by reducing maintenance costs, ensuring real-time monitoring, bringing down power consumption, enabling automation, and enhancing the safety of assets.
At this juncture, there is a variety of onshore and offshore emerging companies present in the market that cater to the different needs of the energy companies. To help them choose the onshore or offshore company that best fits their requirement, Energy CIO Insights has compiled a list of the top 10 onshore and offshore emerging companies. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Energy CIO Insights’, “Top 10 Onshore and Offshore Solution Companies – 2021.”