Chevron Corporation – Digital Transformation Strategies
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Chevron Digital Transformation Strategies Report Overview
Chevron Corporation (Chevron) has been focusing on using artificial intelligence, cloud, big data, and the Internet of Things (IoT) to digitally transform its operations. The annual ICT spending of Chevron was estimated at $1.2 billion for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Chevron is an integrated oil and gas company with a global business presence that operates across the value chain from exploration, production, storage, pipeline, transportation, and refining to marketing and distribution of oil and gas products. Its products include crude oil, natural gas, fuels, lubricants, petrochemicals, and additives. Chevron operates through three reportable segments: Upstream, Downstream, and All Other.
Total ICT Spending 2023 | $1.2 billion |
ICT Spend by Function | Data Center, Communications, Network, Application, End-User Computing, Management, and Service Desk |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, And Systems Integrators |
External ICT Spend by Segment | Software (Including Cloud SaaS), Hardware (Including Cloud IaaS), ICT Services, Consulting, Network and Communications, And Others |
Technology Theme Focus | Artificial Intelligence, Cloud, Big Data, Virtual Reality and IoT |
The Chevron Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, tech innovation/training programs & labs, technology partnerships, technology introductions, venture arm, investments, and ICT spending among others.
Digital Transformation Strategies
Chevron is enabling real-time information analysis using various digital technologies to improve the quality and speed of its decision-making. Its Drilling & Completions Decision Support Center employs an Automated Activity Analysis workflow process that enabled the Pacific Santa Ana drillship to save about $1 million in three months by reducing the number of trips. Chevron is also using the powerful analytics capabilities of Microsoft’s cloud platform to access and turn a constant stream of real-time oilfield data into performance-driving insights. The company is also using data tools to enable predictive maintenance of its assets.
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Chevron Technology Theme Focus
Chevron is utilizing several emerging technologies including artificial intelligence, cloud, big data, virtual reality, and IoT among others to enhance its operational and service capabilities.
Chevron Technology Focus
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Chevron Technology Initiatives
Chevron has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, and technology investments over the last few years. For instance, in 2020, the company invested $24 million in Seeq, a provider of advanced process data analytics solutions for manufacturing and industrial IoT applications. Seeq’s scalable software applications run on Microsoft and Amazon cloud platforms that enable organizations to improve their production, margins, and yields through data-driven insights on asset and employee performance, outcome prediction of deployed processes, and internal collaboration among teams with similar skills.
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Chevron ICT Spend by Function
- Datacenter
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
Chevron ICT Spend by Function, 2023 (%)
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Chevron ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
Chevron ICT Spend by Channel, 2023 (%)
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Chevron External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
Chevron External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into Chevron’s technology activities.
- Insights of its tech innovation/training programs & labs, and venture arm.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Chevron’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships and investments.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Chevron in 2023?
The annual ICT spending of Chevron was estimated at $1.2 billion in 2023.
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Which is the leading ICT spending category by function for Chevron?
The network is the leading ICT spending category by function for Chevron in 2023.
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Which is the leading ICT spending category by channel for Chevron?
Internal development and maintenance is the leading ICT spending category by channel for Chevron in 2023.
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Which is the leading ICT spending category by segment for Chevron?
Software (including cloud SaaS) is the leading ICT spending category by segment for Chevron in 2023.
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What are the key technology themes in focus for Chevron?
The key technological themes in focus for Chevron are artificial intelligence, cloud, big data, virtual reality, and IoT.
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