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Digitalization in Oil and Gas – Thematic Research

Digitalization in oil and gas involves the adoption of digital technologies such as artificial intelligence (AI), big data, cloud computing, cybersecurity, the Internet of things (IoT), and robotics. Digitalization is enabling the oil and gas industry to improve productivity and profitability by streamlining operations.

The adoption of digital technologies in oil and gas was initially sporadic, with a focus on select critical equipment and workflows. The shortage of skilled technicians, concerns over data security, and cost-benefit uncertainty for adapting aging assets have hindered the adoption of digital technologies. However, this is starting to change, as companies upgrade their assets with digital technologies for long-term gains.

The digitalization in the oil & gas industry thematic research report provides a comprehensive review of the expanding role of digitalization across industrial applications, with a special focus on the oil and gas industry.

What are the market dynamics of digitalization in the oil & gas industry?

The COVID-19 pandemic hurt the oil and gas industry. The economic downturn due to the pandemic resulted in lower oil and gas demand, resulting in the shutdown of production in some oilfields and refineries. It also introduced the remote working trend into the industry. However, despite the slowdown, COVID-19 had an overall positive impact on the digitalization drive in the oil and gas industry. The use of cloud computing and cybersecurity received a boost during the time as remote working practices increased amid imposed lockdowns. This created more threat points for cybercriminals to target, which resulted in cybersecurity gaining prominence.

The liquefied natural gas (LNG) sector is expected to witness significant growth in this decade as the preferences of energy-importing countries shifts due to the ongoing geopolitical conflict between Russia and Ukraine. Europe is expected to switch from its Russian gas supply to LNG imports from the US, Qatar, and other sellers. Also, the energy demand of the fast-growing emerging Asian markets, such as China and India, is expected to maintain an upward trend in this decade. This is expected to boost the digitalization efforts in the midstream sector and employing these technologies can ensure LNG terminals have an increased uptime.

What are the key trends that will shape the digitalization theme in the coming months?

The key trends that will shape the digitalization theme in the coming months can be divided into two categories: industry trends and technology trends.

Industry trends

The main industry trends that will impact the digitalization theme are supporting decarbonization efforts, securing critical data, evolving supply chains, and health, safety, and the environment (HS&E).

Technology trends

The main technology trends that will impact the digitalization theme are predictive maintenance, asset management, wearable tech, digital twins, robotics, and 3D printing.

What are the different oil & gas value chains?

The oil and gas value chain is broadly categorized into upstream, midstream, and downstream sectors.

Upstream

The upstream sector includes segments such as exploration, drilling, completion, and production. The key assets in the sector include producing as well as discovered fields and the fields may be found onshore as well as offshore.

Midstream

The midstream sector includes transportation storage of oil and gas. Transportation of oil and gas can be done through pipelines and tankers. Pipelines are constructed for gathering, transmission, and distribution of hydrocarbons from wellheads to end customers. These are the most cost-effective mode of transporting crude oil, natural gas, and refined products.

Downstream

The downstream sector covers the refining of crude oil, marketing, sales, and distribution of processed hydrocarbons, and the petrochemical segment. The refining segment is where crude oil is distilled into its various components, which are traded to industrial and retail customers through distribution channels.

Which are the leading oil & gas companies associated with the digitalization theme?

The leading oil & gas companies associated with the digitalization theme are ADNOC, BP, Chevron, Eni, ExxonMobil, Equinor, Repsol, Shell, Sinopec, Saudi Aramco, and TotalEnergies.

Which are the leading technology companies associated with the digitalization theme?

The leading technology companies associated with the digitalization theme are Alphabet, Amazon, Cisco, Cloudera, DJI, IBM, Intel, Meta, Microsoft, Nvidia, Oracle, PrecisionHawk, RealWear, Salesforce, SAP, and Teradyne.

For more insights on how digitalization will impact the oil & gas industry, download a free report sample

Market report scope

Key trends Industry Trends and Technology Trends
Value chains Upstream, Midstream, and Downstream
Leading oil & gas companies ADNOC, BP, Chevron, Eni, ExxonMobil, Equinor, Repsol, Shell, Sinopec, Saudi Aramco, and TotalEnergies
Leading technology companies Alphabet, Amazon, Cisco, Cloudera, DJI, IBM, Intel, Meta, Microsoft, Nvidia, Oracle, PrecisionHawk, RealWear, Salesforce, SAP, and Teradyne

 Scope

  • This report highlights the growing role of digital technologies in the oil and gas industry.
  • It identifies the most prominent digital technologies adopted by the oil and gas industry.
  • It analyses the impact of digitalization on the oil and gas value chain.
  • The report provides an overview of the competitive positions held by oil and gas companies, equipment and services companies, and technology vendors in the digitalization theme.
  • It also provides digitalization case studies in the oil and gas industry.

Reasons to Buy

  • Identifies and evaluates the prominent digital technologies adopted across the oil and gas value chain.
  • Impact analysis of digitalization in the oil and gas industry.
  • Overview of case studies highlighting the adoption of digital technologies in the oil and gas industry.
  • Identify and benchmark key oil and gas companies using digital technologies in their operation.
  • Identify and benchmark key digital technology providers; and equipment and services companies, offering digital technologies and services to the oil and gas industry.

Table of Contents

Executive Summary 4

Players 5

Tech Briefing 6

Artificial intelligence 6

Blockchain 8

Cloud computing 9

Cybersecurity 10

Internet of things 11

Robotics 13

Virtual and augmented reality 14

Trends 15

Industry trends 15

Technology trends 16

Industry Analysis 17

Digital transformation in the oil and gas industry 17

Market dynamics enabling digitalization 21

Strategic partnerships 22

M&A activities 23

Patents 24

Case studies 25

Value Chain 29

Upstream 31

Midstream 34

Downstream 36

Companies 38

Oil and gas companies 38

Equipment and services companies 41

Technology companies 44

Sector Scorecard 47

Integrated oil and gas sector scorecard 47

Independent oil and gas sector scorecard 50

Glossary 53

Further Reading 55

| Our Thematic Research Methodology 56

| About GlobalData 58

| Contact Us 59

Frequently Asked Questions

The key trends that will shape the digitalization theme in the coming months can be divided into two categories: industry trends and technology trends.

The oil and gas value chain is broadly categorized into upstream, midstream, and downstream sectors.

The leading oil & gas companies associated with the digitalization theme are ADNOC, BP, Chevron, Eni, ExxonMobil, Equinor, Repsol, Shell, Sinopec, Saudi Aramco, and TotalEnergies.

The leading technology companies associated with the digitalization theme are Alphabet, Amazon, Cisco, Cloudera, DJI, IBM, Intel, Meta, Microsoft, Nvidia, Oracle, PrecisionHawk, RealWear, Salesforce, SAP, and Teradyne.

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