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Half of High-Performance Companies in the Oil and Gas Sector Have Been Developing Their Applications in the Cloud for Over Three Years; On the Other Hand, 90% of Low-Growth Companies Still Have Not Developed Applications This Way. The Clock Is Ticking
By Widely Adopting Cloud Resources, Companies in the Oil and Gas Sector Become Smarter and More Efficient. In a Groundbreaking Analysis by Accenture, Using Cloud, the Increase in Return on Capital Employed (ROCE) Is Approximately 300%. But to Succeed, It Is Not Enough to Migrate; the Urgency Lies in How to Extract All the Potential That the Cloud Offers. It Is Fundamental to Define a Clear Strategy That Breaks Down Adoption Barriers and Allows for New Ways of Organizing and Working. To What Extent Are These Energy Companies Employing Industrial Automation Solutions and Leveraging the Internet of Things, for Example, Once Migration Begins?
Volatility and Supply and Demand Challenges Have Been Constant Issues for This Sector, Resulting in a Reduction of Companies’ Participation in the S&P 500 from 15% to 3%. The Additional Decline Caused by the Covid-19 Pandemic Made the Situation Even More Challenging. And the Cloud – and Its Well-Leveraged Resources – Can Help Reverse This Situation. Tools to Support Supply/Demand Fluctuations and Make Companies More Efficient Reduce the Impacts of Price Drops on Their Financial Statements.
This Does Not Mean That Oil and Gas Companies Lack Knowledge of the Cloud: 80% Have Been Experimenting with This Type of Migration. Among the Companies in This Sector with the Highest Growth in the Last Three Years, Evaluated in Accenture’s “Future Systems” Research, 100% Have Already Adopted the Use of Cloud, While Only 37% of Low-Growth Companies Achieved the Same Success. The Issue Is That Few Have Adopted It on a Scalable Basis. Concerns About High-Performance Computing (HPC), Legislation, and Industrial Automation Solutions Are Typical Barriers to Adoption in This Segment. The Question Is: How Can the Cloud Make a Difference in the Sector?
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Brazilian giant expands borders in the Southeast: Petrobras confirms new oil discovery in ultra-deep waters in the pre-salt of the Campos Basin.
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Alert in the global energy market: Severe tropical cyclone hits the coast and disrupts gas production at major plants in Australia, threatening global supply.
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Petrobras finds high-quality oil in the pre-salt at 113 km from RJ and reignites expectations about strategic reserves in the Campos Basin.
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Ocyan opens registrations for startups focused on innovation in the oil and gas sector and will select projects for Innovation Day with the support of Nexio.
We Can Start by Saying That the Cloud Makes Companies Smarter. It Is Possible to Integrate Data Across the Entire Value Chain and Bring More Advanced Analytics Solutions. The Adoption of the Cloud Itself Also Allows for More Adaptability (in Speed and Costs) to Face the Natural Volatility and Cyclicality of the Sector, As It Provides On-Demand Capabilities, Such as Reducing the Breakeven in the Upstream to US$ 10 per Barrel of Oil Equivalent (BOE).
We Reinforce That Market Analyses Also Indicate That the Cloud Increases Companies’ Efficiency by Bringing More Advanced Tools with IT Expense Reductions of Approximately 30%. Our Research Shows That 80% of Companies in This Sector That Achieved Accelerated Revenue Growth Consider the Cloud to Have a Significant Impact on Their Strategic Planning Processes and Supply Chains. Innovations Are Accelerated by Shortening the Development Cycle (e.g., DevOps) and Improving Internal Collaboration.
Many Companies Double Their Difficulties by Starting the Journey Without a Strategy that Includes the Typical Industry Barriers. It Is Necessary to Consider That Applications Are Fragmented and Data Is in Silos. It Is Important to Take Into Account Industry-Specific Solutions (Industrial Automation and IoT) and Threats and Legislation for Cybersecurity. Before Thinking About the Budget for This, Companies Should Also Analyze Their Previous Investments in IT Infrastructure.
But There Is Much Risk in Considering the Journey to the Cloud as Merely an IT Project, Without Directing New Business Possibilities. We See a Market That Often Fails to Adopt a New Operating Model to Allow for Cloud Work Across the Company. Additionally, the Industry Itself Reports Ineffectiveness in Managing the Execution of the Journey to the Cloud, Not to Mention the Management of the Financial Return It Can Bring. That Is, This Is a Matter Applicable to the Entire Company, Not Just Technology.
To Fully Adopt the Cloud, We Highlight Four Strategies That Can Move Technology Processing to the Cloud: 1) Replace the Current Infrastructure with a Cloud One (Lift & Shift); 2) Adopt Solutions for Enterprise Systems Such as ERP or CRM “As a Service”/SaaS; 3) Adopt Solutions for Core Processes (Such as Asset Management “As a Service”); and 4) Create New Native Solutions (Such as New Machine Learning Algorithms for Upstream). It Becomes Essential to Not Only Adopt a Cloud Architecture but Also to Operate a Model Focused on Teams to Extract Maximum Benefit.
Therefore, Going Beyond Migration Requires a Plan with Clear Business Objectives, a Specific Cloud Strategy (from Business Imperatives to Application Migration), and a New Operating Model That Allows for Total Cloud Adoption.
The Time to Accelerate Cloud Adoption Is Right: Half of High-Performance Companies in the Energy (Oil and Gas) Sector Have Been Developing Their Applications in the Cloud for Over Three Years. On the Other Hand, 90% of Low-Growth Companies Still Have Not Developed Applications This Way. The Clock Is Ticking – and the Most Innovative Companies Are Leading the Race.
By Ricardo Polisel Alves and Edson Bouer via Accenture
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