Adapting to new realities in oil and gas
Information-based value creation with the Internet of Things
History shows the price of oil can spin into volatility mode with little warning, yet it appears cheaper oil prices are here to stay. Against a backdrop of the current “lower for longer” era, energy companies must prioritize operational efficiency to stay afloat. Despite the huge amount of data the oil and gas industry produces daily, many processes are simply outdated. Digital transformation of facilities and modern, new technologies for environmental and human monitoring, logistics and more can turn data into insights. And if tapped effectively, the Internet of Things (IoT) can provide a competitive edge.