The new normal has forced companies to engage in an accelerated digital transformation process that allows them to adapt and do business more efficiently. But what processes and tools are required?

In particular, in the oil sector, companies tend to implement technology later than in other industries, according to the Bytes to Barrels: The Digital Transformation in Upstream Oil and Gas report published by Deloitte. The report highlights that, at the moment, many companies in the oil and gas sector have not fully explored digitization in equipment areas, oil platforms, and facilities. This digitization could represent millions of dollars in savings, but it requires high investments and changes in operational processes that involve potential risks in the production chain. 

Moreover, in PwC’s “2020 Digital Operations Study for Energy,” the firm notes that other risks holding back the digitization of companies in the sector are knowledge sharing (77%); low level of digital training (74%); and lack of digital talent (72%). The report also highlights that companies need to implement digital processes to overcome these digitization challenges. For example, in 2016, digital solutions focusing on reducing industry operational costs reached $2.3 trillion. 

To address all these challenges, Deloitte presents the Digital Operations Transformation (DOT) model, which consists of 10 phases and puts cybersecurity and a company’s attributes at the forefront. The Deloitte model aims to help companies in the digitization process by making it easier to measure their progress and by transforming their operations the foundations to become more efficient.

Once companies dare to tackle this change process, they must ask themselves how to start. In this regard, industry professionals’ top priorities for 2020 are cloud-based applications (47%), data platforms (44%), and artificial intelligence (AI) (27%).

At Nakasawa Resources, we are adopting models that allow us to digitize the company and optimize our offering. The application of advanced technologies requires real-time monitoring of all operation parameters that can help oil operators worldwide in process optimization.

Whether adopting the DOT model or other models to accelerate digitalization in the oil and gas sector, what matters is that the industry continues to be at the forefront of digital adoption that will result in greater efficiency, savings, and productivity.