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Dec 2015 - Business Strategy - Doc # US40707615

Cost Reduction, Efficiency, Security, Modernization, and 3rd Platform Are Top-of-Mind IT Initiatives for Oil and Gas CIOs for 2016

Author: Chris Niven Research Director, Oil & Gas

This IDC Energy Insights report examines what chief information officers (CIOs) are doing to prepare budgets and strategies for the coming year. The report is specifically geared toward the offices of chief information officers in the oil and gas (O&G) businesses. Readers will be able to make comparisons with peers in the industry on metrics such as IT objectives and spending priorities. The main focus of this report is on the key enabling technologies and approaches for upstream, midstream, and downstream trading oil and gas.

According to Chris Niven, research director, IDC Energy Insights, "Oil and gas companies are faced with intense pressure to deal with low oil prices, and now is a good time to tighten the belt and focus on becoming more efficient and working smarter. The companies that will survive and prosper are the ones that know how to leverage enabling technologies like cloud and mobility to help automate and optimize processes and apply analytics to improve operations output. If a company does not have operations excellence, they need to get it."

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