Publication date: 25 Aug 2022
Three Key Practices to Leverage Digital Transformation for Sustainable Operations in Asia/Pacific Energy Companies, According to IDC
SINGAPORE, August 30, 2022 – In a recent IDC Report titled IDC PeerScape : Leveraging Digital Transformation for Sustainable Operations, IDC reveals three practices energy companies can use to accelerate their carbon reduction plans and address the challenges they face when undertaking Digital Transformation (DX).
According to an IDC survey, 90.2% of energy companies in Asia/Pacific have set a specific date for net-zero targets, and 95.2% said they have set annual targets for carbon dioxide emissions reductions. However, concrete steps need to be taken to operationalize these goals by adopting new technologies – currently a challenge due to the inadequacy of existing infrastructure - and harnessing the data to track and report on emissions accurately. Most of the available data is siloed on legacy infrastructure and is not readily available.
“It is critical to assess the various strengths and weaknesses of an organization and take a measured approach to removing internal silos by leveraging new technologies to drive energy efficiency and improve asset performance,” says Rakesh Patni, Associate Research Director, IDC Asia/Pacific Energy Insights.
Three best practices for oil and gas organizations for operational sustainability are as follows:
Practice #1. Migrate to multicloud platforms for greater flexibility and scalability – Transition to real-time operations management by overcoming silos and migrating to cloud platforms.
Practice #2. Drive energy efficiency with site planners and simulation models – Quantify energy consumption and losses and create systemwide models that optimize operations.
Practice #3. Improve asset performance with predictive maintenance capabilities – Improve efficiency and sustainability performance with predictive rather than reactive maintenance.
Energy companies recognize the need for new strategies that will help them keep pace with the global energy transition that is underway. Increasing pressures from consumers, shareholders, and government regulations mandating carbon emissions reductions are forcing energy companies to gain a greater understanding of their carbon footprint and revisit their current policies and practices in carbon dioxide tracking and reporting.
The IDC document, IDC PeerScape : Leveraging Digital Transformation for Sustainable Operations (Doc #AP49149722), explores three practices energy companies can use to accelerate their carbon reduction plans and address the challenges they face when undertaking DX.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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