Fueling the Future – How Data & Analytics and AI are transforming the Oil and Gas Industry

Driven by advanced analytics and AI’s increased adoption, enterprises across industries are better realizing their business goals and bolstering new initiatives. The Oil and Gas (O&G) industry is one among the industries quick to adopt data analytics and AI(DAAI) adoption with major investments seen in use cases related to improving operational efficiency, strengthening decarbonization initiatives, reducing demand fluctuations, mitigating volatility in asset management and maintenance, and enhancing cyber resilience. While major DAAI applications are seen in upstream businesses, O&G firms are also now, investing in solutions related to downstream and midstream firms to develop differentiation in the market and better realize operational efficiencies. Stimulated by post-pandemic conditions, O&G organizations are focusing more on digital initiatives that ensure workforce safety and build operational resilience.

In this report, we assess DAAI adoption’s current state in the O&G industry, emerging themes causing enterprises to adopt DAAI, assessing market adoption levels and value delivered by DAAI across use cases in the O&G value chain. Furthermore, the report discusses advanced analytics and AI use cases that support O&G enterprises across the value chain and the future landscape shaping for enterprises and service providers.