7 in 10 O&G professionals to embrace digitalisation for higher profits

But an old-fashioned culture remains the biggest barrier.

Quality assurance and risk management company DNV GL reported that in their study on oil and gas (O&G) industry, 68% of Singaporean senior oil and gas professionals agreed that their organisations need to embrace digitalisation to increase profits, up from 36% in 2017.

Digitalisation is attracting the most immediate investments, with 22% of the respondents expecting their organisations to make the first or further investments this year, whilst 49% expect digitalisation investments within five years.

Further, 41% of the respondents said that they expect an increase in digitalisation investments, compared to 27% last year. Renewable energy investment comes next, with 35% of the respondents expecting an increase.

Cyber security investments are also expected to increase by 41%, which mirrors the expectations for digitalisation, DNV GL said.

However, 41% of the respondents said that an old-fashioned organisation or culture may be the primary barrier to digitalisation, whilst 30% said that the barrier could be the lack of required skills, and lack of funding.

Meanwhile, Singapore Business Review previously reported that 68% of O&G professionals expect an increase in cost control.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia