The Canadian oil and gas industry is facing some of the biggest challenges in its history.
A global pandemic has shaken a sector already undermined by a persistent glut of oil, anemic commodity prices, market access issues and mounting climate pressures. It is a potentially existential crisis through which only the best-equipped companies will thrive. Those companies will increasingly be digital.
The Daily Oil Bulletin’s fourth Digital Oilfield Report, a deep dive into the state of the digital transformation, explores the penetration of digital technologies today and over time since its first report in 2015.
Through an extensive survey of oil and gas professionals, the 2020 report captures the current state of adoption of the long anticipated digital oilfield in Canada.
In an examination of several different digital use cases, it reveals those technologies that are considered most mature, those that provide the greatest return on investment and how far along the adoption curve they have moved over time.
The Digital Oilfield Report also provides insight into the uptake of rapidly advancing digital technologies like edge and cloud computing, artificial intelligence and machine learning. These technologies offer a competitive edge to first-movers that grasp the magnitude of the opportunity and deploy the latest applications.
Results from a high-level energy industry roundtable discussion in late summer provide more insight into how the industry is coping with the pandemic – wherein industry executives described positive experiences with and advances in the digitalization of the oilfield.
Download the 2020 Digital Oilfield Report here.