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Oil & Gas CIO Survey 2018

Oil & Gas CIO Survey 2018

This Oil & Gas industry snapshot provides survey responses from 69 IT leaders.

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The Harvey Nash/KPMG CIO Survey is the largest IT leadership study in the world, with almost 4,000 respondents across 84 countries, representing over US$300bn of IT budget spend.

This Oil & Gas industry snapshot provides survey responses from 69 IT leaders on some of the key topics, and highlights several areas where this industry's responses differed significantly from those across all industries.

Oil & Gas findings

Oil & Gas CIOs have embraced the digital revolution and are currently exploring multiple ways to digitize their operations.

Key findings include:

  • Of next-generation technologies, Oil & Gas companies are most likely to have invested in the Internet of Things and robotic process automation.
  • Oil & Gas companies view having an innovative, experimental culture as a critical component of the success of their digital strategies, with 87% viewing it as very or quite important.
  • The transition to digital remains a challenge for Oil & Gas companies and CIOs and the industry could benefit from more aggressive digital strategies. To achieve this, companies should further invest to pilot and deploy digital solutions.

Conclusion

Oil & Gas CIOs have embraced the digital revolution and are currently exploring multiple ways to digitize their operations, including digital twins, robotization of physical and intellectual behavior, digitally equipping the labor force, and integrating it into the digital ecosystem with customers, suppliers and other stakeholders.

Digitization, including robotics and artificial intelligence, are currently regarded as primary instruments in enabling long-term efficiencies to achieve cash flow improvements. As a result of a potentially unclear digital strategy, the industry is looking at ways to redesign business processes to take advantage of digital.

The transition to digital remains a challenge for Oil & Gas companies and CIOs and the industry could benefit from more aggressive digital strategies spanning the entire value chain, from exploration through production, refining and retail. Digital solutions can improve efficiency, decision making effectiveness and better enable employees with day to day activities. To achieve this, companies should further invest to pilot and deploy digital solutions.

- Anton Oussov, Global Oil and Gas Leader, KPMG in Russia

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