In response to the industry’s prolonged squeeze in profits, many companies have scaled back investments in capital and talent. As the average tenured oil worker reaches retirement age, companies are finding themselves facing a skills gap. Also, the misguided application of cost-cutting may come back to bite companies and hamper efforts to ramp up production in the most effective manner.

Digital transformation is a keynote across the industry with Asian manufacturing companies leading the way in the pursuit of new technology. Getting ahead of the digital game will give companies a competitive advantage; therefore, it is imperative that businesses in the US and Europe keep up.

The rate of technological change is already driving digital transformation the world over. The volume of connected data available to operators continues to grow, and much of this is being driven by the ongoing expansion of the Industrial Internet of Things (IIOT) market.

When looking at upstream, midstream, downstream or oil field services, the story is consistent across the board: executives who are intent on reaching more profitable returns (i.e BBL-EBITDA) will continue to leverage enormous data and analytics to affect their actions in capturing significant growth opportunities faster. In return, they will evolve to a more effective, digitally-led operating model. Risk management is critical to ensuring that any actions taken to participate in the industry resurgence are continuously evaluated, specifically as it pertains to reposition growth objectives.

With our help, clients embrace disruptive and innovative technologies, and they adapt to change at an accelerated pace.

Contact us today. Together, we will transform operations, catapult growth, and accelerate results.