IDC Predictions Top 10 Oil & Gas IT Revolutions in 2015, Beyond

IDC Energy Insights on Wednesday hosted a web conference, IDC FutureScape: Worldwide Oil & Gas 2015 Predictions, to highlight the predictions based on the IDC FutureScape report.

The web conference predictions series and accompanying IDC FutureScape reports, are designed to help company leaders capitalize on emerging market opportunities and plan for future growth.

The predictions from the IDC FutureScape for Oil & Gas (O&G) are:

1.      80% of the top O&G companies will reengineer processes and systems to optimize logistics, hedge risk and efficiently and safely deliver crude, LNG, and refined products by the end of 2017.

2.      Over the next 3 years, 40% of O&G majors and all software divisions of oilfield services (OFS) will co-innovate on domain specific technical projects with IT professional service firms.

3.      The CEO will expect immediate and accurate information about top Shale Plays to be available by the end of 2015 to improve asset value by 30%.

4.      By 2016, 70% percent of O&G companies will have invested in programs to evolve the IT environment to a third platform driven architecture to support agility and readily adapt to change.

5.      With continued labor shortages and over 1/3 of the O&G workforce under 45 in three years, O&G companies will turn to IT to meet productivity goals.

6.      By the end of 2017, 100% of the top 25 O&G companies will apply modeling and simulation tools and services to optimize oil field development programs and 25% will require these tools.

7.      Spending on connectivity related technologies will increase by 30% between 2014 and 2016, as O&G companies demand vendors provide the right balance of connectivity for a more complex set of data sources.

8.      In 2015, mergers, acquisitions and divestitures, plus new integrated capabilities, will drive 40% of O&G companies to re-evaluate their current deployments of ERP and hydrocarbon accounting.

9.      With a business case built on predictive analytics and optimization in drilling, production and asset integrity, 50% of O&G companies will have advanced analytics capabilities in place by 2016.

10.  With pressures on capital efficiency, by 2015, 25% of the Top 25 O&G companies will apply integrated planning and information to large capital projects, speeding up delivery and reducing over-budget risks by 30%.

"Rapid and radical changes in energy supply and demand require gas companies to be more agile, resilient, and innovative to retain competitive edge and perform for the market," said Jill Feblowitz, vice president, IDC Energy Insights. "These top ten decision imperatives will help oil and gas companies focus their efforts and deploy technology wisely to meet those ends."

The IDC FutureScape report that this web conference is based on will be published and available within the next 24 hours.