What will IT do for Oil & Gas sector in coming years?

IDC’s top 10 predictions for the Oil & Gas sector is giving some insights into what IT heads and CIO need to focus on in coming years.

# 80 percent of the top O&G companies will reengineer processes and systems to optimize logistics, hedge risk, and efficiently and safely deliver crude, LNG, and refined products by the end of 2017.

# Over the next three years, 40 percent of O&G majors and all software divisions of oilfield services (OFS) will co-innovate on domain specific technical projects with IT professional service firms.

# The CEO will expect immediate and accurate information about top shale plays to be available by the end of 2015 to improve asset value by 30 percent.

# By 2016, 70 percent of O&G companies will have invested in programs to evolve the IT environment to a 3rd Platform-driven architecture to support agility and readily adapt to change.

Oil and Gas sector

# With continued labor shortages and more than one third of the O&G workforce under 44 in three years, O&G companies will turn to IT to meet productivity goals.

# By the end of 2017, 100 percent of the top 25 O&G companies will apply modeling and simulation tools and services to optimize oil field development programs and 25 percent will require these tools.

# Spending on connectivity-related technologies will increase by 30 percent between 2014 and 2016, as O&G companies demand vendors provide the right balance of connectivity for a more complex set of data sources.

# In 2015, mergers, acquisitions, and divestitures, plus new integrated capabilities, will drive 40 percent of O&G companies to re-evaluate their current deployments of ERP and hydrocarbon accounting.

# With a business case built on predictive analytics and optimization in drilling, production, and asset integrity, 50 percent of O&G companies will have advanced analytics capabilities in place by 2016.

# With pressures on capital efficiency, 25 percent of the Top 25 O&G companies will apply integrated planning and information to large capital projects by 2015, speeding up delivery and reducing over-budget risks by 30 percent.

Baburajan K
[email protected]