In this era of low oil & gas commodity prices, improvements to process and technology efficiencies begin to emerge as a critical success factor. Aging assets across application areas that were economically viable when oil prices were high, are now too inefficient to compete in a low-commodity-price economy. According to McKinsey & Company benchmarking research, a 10% improvement in oil & gas industry production efficiency can yield up to $220 million to $260 million bottom-line impact on a single brownfield asset. These types of potential gains are too enticing to ignore. Fortunately, new technology breakthroughs in the area of digitalization now make it possible for oil & gas companies to seize upon these efficiency improvement gains without having to incur high CAPEX and OPEX. In fact, the World Economic Forum is predicting that by 2025, new digitalization technologies will add $220 billion in value to the oil and gas […]