Oil & Gas Firms to Spend US$15 Billion on Digital Transformation Technologies by the End of the Decade

Oil & Gas firms face a myriad of operational, commercial, and existential threats. According to global technology intelligence firm ABI Research, Oil & Gas firms are turning to digitalization to combat these threats and will spend US$15.6 billion on digital technologies in 2030. Investments in digitalization can help to analyze a pipeline’s condition, prepare for fluctuations in the changing prices for oil and gas, as well as aid action plans to create more sustainable operations and transfer to producing renewable energy sources.