The Role of Technological Innovation in Energy Conservation and Carbon Reduction in the Oil and Gas Industry

The Role of Technological Innovation in Energy Conservation and Carbon Reduction in the Oil and Gas Industry

This IDC Perspective examines the technological developments and innovations for energy conservation and carbon reduction in the oil and gas (O&G) industry. Energy conservation and efficiency and carbon emissions reduction have become a central talking point for many industries around the world. With the current geopolitical instability in the world, energy costs are rising sharply, resulting in an increased focus on driving efficient energy use. At the same time, governments around the world, especially in Europe and the United States, are pushing a mandate to industrials for greater adoption of renewable energy sources and a reduction of emissions from existing activities, to help address the growing problem of climate change and pollution. To achieve these pressing goals, it has become clear that organizations need to invest in new technologies and innovation programs. "Organizations need to become agile to innovate faster and gear themselves to adopt new digital technologies that will enable them to meet their annual carbon reduction goals and long-term net-zero targets. Investment in Industry 4.0 technologies and solutions, such as digital twins, will give organizations greater visibility and rich data across the entire value chain. Cloud technologies will lay the foundation for greater flexibility and scalability in the future. This agility will help them drive operational, maintenance, and management excellence in their business operations," says Rakesh Patni, associate research director, IDC Asia/Pacific Energy Insights.

Please Note: Extended description available upon request.

Executive Snapshot
Situation Overview
Agile Culture — Agile Teams and Processes to Drive Efficiency
Operational Excellence
Use of Edge Computing in Critical Infrastructure to Improve Response Time
Artificial Intelligence–Enabled Drones/Robots to Support Inspections
Smart Power Management and Efficient Energy Usage
Use of Digital Twins to Reduce Cost, Risk, and Overall Carbon Footprint
Maintenance Excellence
Asset Performance Management
Asset Investment Planning — A Tool for the Sector's Move to Renewables
Augmented Maintenance with Remote Support to Reduce Travel
Enterprise Excellence: Data-Driven Decision Making
Enterprise Resource Planning for Carbon Emissions Reporting
Carbon Footprint Applications for Carbon Reduction
Intelligent Environment, Health, and Safety Software
Ecosystem Collaboration
Advice for the Technology Buyer
Learn More
Related Research

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings