Digitising downstream oil and gas operations
Abstract
Oil and gas companies worldwide understand the potential of digitisation for their downstream operations. Yet they often face challenges in launching and executing digitisation projects in their core businesses. Given the fast pace of technological innovation and the complexity of a downstream business, refiners and petrochemicals players can capture the full value of digitisation only if they apply a structured, systematic approach. Strategy& - 1 of 6 leading strategic consulting firms in the world according to Vault’s ranking in 2019 and 2020 - proposes a digitisation approach for downstream companies which consists of three specific areas: to prioritise digitisation efforts by linking them to the functions with the maximum value, to build foundational capabilities, and to apply a more agile approach. This approach if successfully applied will lead to a technology-driven transformation - the key to improve the efficiency of oil and gas businesses.
References
Reinhard Geissbauer, Anil Pandey, Jean Salamat, Ivan Gallo, Devesh Katiyar, and Siavash Rahimi, “Digitizing downstream oil and gas operations: A framework for capturing value”, PwC, 2019. [Online]. Available: https://www.strategyand.pwc.com/m1/en/reports/2019/digitizing-downstream-oil-and-gas-operations.pdf.
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