| | September 20166CIOReviewAfter years of stellar performance and unprecedented boom in drilling, the Oil and Gas (O&G) industry is navigating choppy waters today. It is now in the middle of one of the most severe downturns in decades. O&G companies that had invested heavily based on propitious forecasts are slowing their operations. At this crucial juncture, when the rock-bottom oil prices are hitting companies hard, containing costs by reducing head count, postponing projects, and pruning spending will only provide short-term breathing space.In the face of uncertain long-term forecasts, companies need to explore more drastic strategies to boost efficiency. Research findings indicate that turning to digital technologies will not only reduce capital expenditures by up to 20 percent, but also cut operating costs in upstream by 3 to 5 percent and by about half that in downstream. After spearheading the first digital age long before big data, analytics, and the Internet of Things (IoT) entered the scene, it is time for O&G companies to catch up and be innovative again. If the C-suite can leverage the right technologies and make better use of existing systems, an average big oil company can witness up to $1 billion in cost savings or production increases. Specifically, harnessing mobility, cloud, analytics, big data, and IoT will see the O&G industry put an end to its declining trajectory. Forward-looking companies are creating digital platforms to manage project plans as well as engineering data to provide critical information to contractors and employees. Going digital maximizes oilfield production by helping companies aggregate data from multiple sources and apply analytics to identify optimization opportunities. All this is just the tip of the iceberg. From utilizing 3D printing for creating tools and spare parts to employing predictive analytics and automation for increasing throughput across the value chain, the benefits that latest technologies bring to the O&G landscape are immense. As companies attempt to thrive in this complex landscape, CIOReview presents to you its 3rd Annual Edition on Oil and Gas technologies, featuring insights from industry thought-leaders and showcasing innovative technologies.We hope this special edition proves to be valuable in your endeavors to digitize your operations.Copyright © 2016 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewSEPTEMBER - 19 - 2016Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 September - 19 - 2016, Vol 05 SE 76 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com OIL AND GAS SPECIALCIOReviewEditorial StaffSalesT: 510-565-7560Aaron Pierce Alex D'Souza Frank NoelAishwarya KannanAva GarciaJoshua ParkerStephen Thomasstephen.thomas@cioreview.comVisualizersMatt RyderAnil KumarManaging EditorJeevan GeorgeEditorialThe Digital Energy RevolutionJeevan George Managing Editoreditor@cioreview.com
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