Back in 2016, key findings from the World Economic Forum research suggested a revenue growth of US$2.5 trillion due to digitalisation in the oil and gas sector by 2025. Similarly, in this year alone, Industry 4.0 spend is predicted to reach US$300 billion. The Fourth Industrial Revolution is said to be in full swing - but is this growth enough to support midstream operators in the long-term? One mistake oil and gas companies often make is to short-cut their digital transformation by investing in new technologies without understanding the processes or data involved. Perhaps they haven't fully quantified their goals, considered all cost-cutting options, or tested existing options on a regular basis. After all, I will always look in my wardrobe before purchasing a new item of clothing; the key is deriving value from any and all assets at one's disposal, not just those that are new, different, or currently trending.
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