Special Reports: 2021

Keeping pace with the competition is a critical reality for the oil and gas sector. Operators need to cut costs, target efficiency gains and lower their carbon footprint if they want to maintain strong revenues and attract potential investors. And this has only been emphasised by the past pandemic year. A data-centric, agile approach that allows firms to take a more proactive stance is the key for many companies. Digitalisation in oil and gas may have historically lagged other sectors, but this position is rapidly changing. Adoption and appetite for new technologies are growing across the entire value chain, and the looming energy transition is only accelerating this trend. At Petroleum Economist, in association with Beyond Limits, we set out to explore some of these themes in our latest digitalisation survey. We asked a wide breadth of the sector their views on the growth of AI tools and solutions. Respondents discussed the main motivators for deploying AI, changing boardroom mindset and wider barriers to adoption. What follows is a sample of the most revealing survey findings.