Leading oil and gas firms do not look at the cloud as a tactical approach to reduce the costs of IT but as a core platform for strategic growth.
FREMONT, CA: The oil and gas industry has a tradition of embracing new technologies. The industry has responded to every major technology trend of the last couple of years. Cloud computing, for example, takes center stage, which offers clear benefits to the industry. The virtually unlimited computing and storage capabilities, ease of deployment, upfront capital costs of cloud technology are too compelling for a data-rich sector like oil and gas to ignore. Cloud technology is a natural fit for this industry that has a dispersed workforce.
The scalable nature of the cloud allows for adding additional resources at any time. For large data sets in the oil and gas industry, large arrays and elastic computing enables real-time data analysis. Whether the cloud hosts imaging technology for forecasts and deep drilling, geological data, or trading information, it allows real-time analysis of all the data in the most cost-effective way. Oil and gas operations are field intensive, and there is value to be derived from deploying cloud solutions. Cloud collaboration enables document management, administration, and sales and marketing support. Large files and datasets can live in a cloud storage with automated backups.
A journey to the cloud in the oil and gas industry offers the foundation for value-creating benefits. As the cloud is not a one-size-fits-all solution, oil and gas firms need to consider multi-speed operating models for the years to come. The right operating model is critical to achieving increased agility, operating efficiencies, and reduced infrastructure costs. Cloud computing makes sense for oil and gas companies looking to develop a strategy toward effective digital innovation. Cloud computing is the apt platform for AI, big data, and the Internet of Things, while also providing unparalleled mobility in the oilfield. The opportunities that come with cloud are exciting and will be an essential enabler for the industry as it seeps into the future.
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