IDC Energy insights reveals oil & gas predictions for 2015

IDC Energy Insights today hosted the IDC FutureScape: Worldwide Oil & Gas 2015 Predictions web conference, which highlighted predictions based on a new IDC FutureScape report. The Predictions web conference series and accompanying IDC FutureScape reports, are designed to help company leaders capitalize on emerging market opportunities and plan for future growth. An audio replay of today’s web conference will be available this afternoon. To access the replay, please visit: http://bit.ly/IDCOil_GasFutureScape2015.

“These top 10 decision imperatives will help oil and gas companies focus their efforts and deploy technology wisely to meet those ends.”

The predictions from the IDC FutureScape for Oil & Gas (O&G) are:

1. 80 percent of the top O&G companies will reengineer processes and systems to optimize logistics, hedge risk, and efficiently and safely deliver crude, LNG, and refined products by the end of 2017.

2. Over the next three years, 40 percent of O&G majors and all software divisions of oilfield services (OFS) will co-innovate on domain specific technical projects with IT professional service firms.

3. The CEO will expect immediate and accurate information about top shale plays to be available by the end of 2015 to improve asset value by 30 percent.

4. By 2016, 70 percent of O&G companies will have invested in programs to evolve the IT environment to a 3rd Platform-driven architecture to support agility and readily adapt to change.

5. With continued labor shortages and more than one third of the O&G workforce under 44 in three years, O&G companies will turn to IT to meet productivity goals.

6. By the end of 2017, 100 percent of the top 25 O&G companies will apply modeling and simulation tools and services to optimize oil field development programs and 25 percent will require these tools.

7. Spending on connectivity-related technologies will increase by 30 percent between 2014 and 2016, as O&G companies demand vendors provide the right balance of connectivity for a more complex set of data sources.

8. In 2015, mergers, acquisitions, and divestitures, plus new integrated capabilities, will drive 40 percent of O&G companies to re-evaluate their current deployments of ERP and hydrocarbon accounting.

9. With a business case built on predictive analytics and optimization in drilling, production, and asset integrity, 50 percent of O&G companies will have advanced analytics capabilities in place by 2016.

10. With pressures on capital efficiency, 25 percent of the top 25 O&G companies will apply integrated planning and information to large capital projects by 2015, speeding up delivery and reducing over-budget risks by 30 percent.

“Rapid and radical changes in energy supply and demand require gas companies to be more agile, resilient, and innovative to retain competitive edge and perform for the market,” said Jill Feblowitz, vice-president, IDC Energy Insights. “These top 10 decision imperatives will help oil and gas companies focus their efforts and deploy technology wisely to meet those ends.”

The IDC FutureScape report that this web conference is based on will be published and available within the next 24 hours. To learn more about IDC Predictions and IDC FutureScapes, please visit: www.idc.com/research/Predictions15.

For additional information about these predictions or to arrange a one-on-one briefing, please contact Sarah Murray at 781-378-2674 or sarah@attunecommunications.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insights@idc.com; reporters should email sarah@attunecommunications.com.

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