Digital Transformation in Midstream Energy
This IDC Perspective examines what midstream oil and gas companies are doing to digitally transform (DX) their business. Oil and gas pipeline operators are already investing in new technologies for better control, inspection, and maintenance of assets, and to enable growth, there are issues that need be addressed including aging assets, which are at increasing risk of failure; increasing regulation; and an estimated loss of 40–60% of the existing workforce through retirement.According to Chris Niven, research director, IDC Energy Insights, "The convergence of IT and OT will improve maintenance and enable remote monitoring of equipment and planned shutdowns. Digital transformation is making the midstream sector to be more agile, proactive, real time, and collaborative and creating insights much faster for cost-effective operations. This transformation is also changing the way of midstream industry innovation through data-driven technologies such as real-time asset management, automated emission monitoring, and predictive maintenance into a valuable and cost-effective reality."
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