The digital transformation of the oil and gas industry has accelerated at a rapid rate in the last decade ever since the 2014 oil price crash. Oil and gas has gradually transitioned from a digital laggard to a potential leader in digital technologies such as digital twins, predictive maintenance, and gas detection. In this report, we discuss the underlying drivers for the industry's imminent push for digital, analyze the primary struggle it faces today of digital scale-up and enterprise wide deployment, and speculate the rise of 'tech' oil companies for the future. Note: Lux analysts have reviewed this content in the last six months and deemed it still current and relevant. We will continue to periodically review content for recency and relevance, and will either archive or refresh this content as the situation requires. Please reach out to your Customer Success Manager if you have any further questions.
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