Digital Transformation in Oil and Gas

Perspectives

Digital transformation in oil and gas companies

Assessing digital maturity

Oil and gas companies that have been undergoing deep digital transformation since 2017 have now reached a standstill. What’s preventing these companies from advancing in their journey? Discover six transformation obstacles in today’s oil and gas industry—and how companies can prepare to overcome them with a digital maturity assessment.

The state of digital transformation in oil and gas

Currently, oil and gas (O&G) companies are in the midst of a significant digital evolution. Initiated in 2017, this digital transformation wave has permeated all business sectors, from exploration to refining and marketing. This shift, accelerated by global events such as the COVID-19 pandemic, underscores the need for companies in this sector to adapt and innovate.

However, many oil and gas companies appear to have plateaued in their digital journey. To uncover the reasons behind this stagnation, we conducted a comprehensive survey involving key stakeholders in operational, digital, and information technology (IT) roles at oil and gas companies across the value chain. The objective was to gauge their digital maturity, identify industry standards, and highlight avenues for enhancing digital value realization.

Digital maturity assessment for oil and gas companies

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  1. 1. Defining and tracking digital value is key
  2. 2. IT and operational technology (OT) convergence gains momentum
  3. 3. Execution remains an issue
  4. 4. Close collaboration between business and IT is critical
  5. 5. Change management continues to be a pivotal factor
  6. 6. Unlocking value through artificial intelligence (AI)/Generative AI (GenAI)

Digital transformation in oil and gas: Assessing maturity

Deloitte’s maturity assessment scores are derived across four categories:

The graphic below highlights the range of scores observed in each of the four digital maturity categories.

Continue your oil and gas digital transformation journey

Overall digital maturity benchmark results indicate that oil and gas companies are embracing the digital transformation journey. The current phase of digital evolution that oil and gas companies are undergoing presents significant opportunities in the industry for them to innovate, improve operational efficiency, make data-driven decisions, and enhance stakeholder experiences. Download our full report for more insight on the emerging themes calling for a digital maturity assessment.

Take our survey to participate in the digital maturity assessment survey and join us in this transformative journey.

Contributors

Beatriz Aguirre, Chikere Ogbonnaya, Nick Khater, and Shubham Singh

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