Home Competitor Assessment and Benchmarking: Digitization in Oil and Gas

Quick overview

Our client, an integrated oil & gas company, wanted to understand various digital initiatives adopted by its competitors in their business operations and position itself in order to identify the areas where either the client lags or has an upper hand.

Client success details

The support and insights FutureBridge delivered helped our client in understanding the competitor strategies in order to position themselves with a better digitization strategy. Our analysis answered several of our client’s critical business questions including::

Digitization brings various benefits in day to day operations and cost reduction. How can an oil and gas player assess its competitive position in digital initiatives adoption?
  • How are digitization technologies being used to improve safety, operational performance, economics and cost efficiency in oil & gas sector?
  • What are the strategies adopted by competitors in digitizing their business operations?

FutureBridge conducted extensive primary and secondary research to identify deals signed by oil players with the digital service providers and to uncover collaborations and acquisitions related to digitization. Our research included:

  • Identification of various contracts signed or solutions implemented by targeted O&G players and analyzed intent of each contract and its benefits
  • Identification of key initiatives and key digitization concepts: Artificial Intelligence, Big Data, IoT, Virtual reality, Digital Twin, Cloud, and others
  • Deduced the digitization strategies implemented by each player, the extent of success that they have achieved in this respect and the chief obstacles encountered

FutureBridge further provided insights on how IOCs are using the digitization concepts to restructure their businesses and technology maturity level that could be achieved in the next 10 years benefiting the oil and gas sector.

Also, FutureBridge analyzed the level of economic impact for each BU (upstream, midstream, and downstream) of the client.

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