Digital can unlock $1.6 trillion of value for oil and gas, if you know how to use it

SourceArabian Industry
SectorOil & Gas

The oil and gas industry frequently cites a piece of research which says that digital transformation could unlock up to $1.6 trillion in value for oil and gas by 2025. But as with any other lock, you need the right key.For oil and gas, there are unique challenges in using digital technologies, edge computing expert Stratus wrote in a whitepaper, including "applying solutions across geographically dispersed and often remote assets." It noted that "operational excellence begins at the operational edge," which is the point of data acquisition usually in remote, decentralised assets."Operators need the ability to collect real-time data directly from remote equipment and convert it into actionable information," the paper noted. Real-time information opens up possibilities, allowing operators to set the more...