Accelerate Digital Transformation in the Oil and Gas Industry

Abstract

Abstract It has been recognized that Digitalization in the oil and gas industry, as emerging information communication and technology, can improve collaboration to different extents. However, because of the fast progress of Digitalization adoption both on the scope and in-depth, there is a knowledge gap between industry and academia that lacks systematic analysis on critical success factors (CSFs) of implementing Digitalization for collaboration in the oil and gas industry. This study develops a digitalization framework for collaboration from technical, organizational, process, and legal scopes. It identifies the CSFs of Digitalization in each scope based on the latest publications. From a system analysis perspective, the pair-relationship matrix is established to reveal the hidden effect between CSFs. The CSFs in the specific Digitalization application areas are identified based on the matrix. The Innovative Digital Race is based on the evolution of the operational backbone of the engineering domain, driven by advancements in Artificial Intelligence, Machine Learning, Deep Learning, Automation, energy technologies, and data-driven prediction and analytics. Organizations are constantly buffeted by unexpected events, from the COVID-19 pandemic to climate change to political unrest. In contrast, the promise of digital transformation to prosper and outperform the challenges during disturbances stays apparent as digital is responsible for supporting digital enterprise technology. As a result, enterprises can embrace innovations to accelerate growth and strategically drive the enterprise forward through gaining trusted digital connections, solutions to disruptive scale digital creativity, and innovative capacities to post business growth and resilience.