Unrealized potential of digital THE CHANGING OIL AND GAS LANDSCAPE AFFORDS OPPORTUNITIES FOR IMPROVING OPERATIONAL EFFICIENCY

摘要

THE OIL AND GAS industry is facing intense pressure to improve operational efficiencies as lower oil prices continue to crimp margins. Additionally, capital expenditures for exploration have dropped 26% since 2014, which shifts the focus to maximizing production and throughput by "sweating" existing assets (Figure 1). While the industry continues to swing between highs and lows, the operational nature of the business has remained relatively constant. Achieving a breakthrough on production performance demands a fresh perspective on field operations. Many oil and gas companies are responding by adjusting spend; however, broader opportunities exist to reduce overall spending. For instance, revenue has decreased 40% since 2014; however, operating expenses have declined by only 9% (Figure 2).