Welcome to the second edition of KPMG new oil and gas magazine, Drilling Down.
Welcome to the second edition of KPMG’s oil and gas magazine, Drilling Down, designed to be of interest to anyone with a connection to the Industry. We hope it will bring you valuable topical insights and promote discussion and debate around the key issues facing our sector.
In this issue, we explore some of the use cases that are driving the urgency of the digital transformation in the oil & gas sector. We explore how digital is helping to build customer loyalty and insights as oil & gas companies seek to diversify into new business models. We examine how digital is helping oil & gas tax functions become more efficient and more strategic as tax moves up the oil & gas agenda. We look at how digital twins are driving operational efficiency and value in virtually every part of the oil & gas value chain.
Recognizing the gap between digital ambition and reality, this edition of Drilling Down also takes a more holistic view to exploring some of the unique barriers and opportunities facing oil & gas companies as they strive to digitize their businesses. And we offer some examples and case studies from KPMG member firms that work around the world to try to demonstrate how the leaders are overcoming the barriers and embracing the opportunities of digital.
Our view suggests that digital transformation will be needed to execute all aspects of an energy company’s future strategies. And it will be critical to helping manage the risks and uncertainties of the future. Yet building these capabilities, solutions, models and technology ecosystems takes time and experience. You should think about them early, in an integrated fashion and with a clear vision of what you want to be and how you want to be perceived.
Digital solutions are one of the potential antidotes to disruption, if applied correctly, in that they can:
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