At what could be a critical turning point
for Europe’s energy producers, technology advancements enable new
process efficiencies, ISG Provider Lens™ report says
Europe’s oil and gas industry is increasingly leveraging AI to
optimize operations across its value chain as the region faces
growing energy security concerns, according to a new research
report published today by Information Services Group (ISG) (Nasdaq:
III), a leading global technology research and advisory firm.
The 2024 ISG Provider Lens™ Oil and Gas Industry – Services and
Solutions report for Europe finds AI is being used by major
companies such as BP, Shell and TotalEnergies to enhance
operational efficiency in exploration, production, refining,
predictive maintenance and supply chain management.
The sector’s growing use of technology to improve operations
comes at a pivotal moment for Europe’s oil and gas industry.
Offshore production is gaining increased attention amid energy
security concerns caused by the war in Ukraine, with the North Sea
a focal point for exploration and production. At the same time, the
European Union must be prepared to assist member states in moving
away from fossil fuels, to avoid destabilizing the region. Europe’s
oil and gas demand is projected to decline by 25 percent to 50
percent in the next five years, the report notes.
“Europe’s upstream oil and gas industry is at a turning point,”
said Julien Escribe, partner and managing director, ISG SEMEA. “The
industry must increase production in the short term to combat
supply challenges while at the same time prepare for a lower-carbon
future. Technology is playing an increasingly important role in the
transition.”
Supply chain disruptions, particularly related to Russia’s
ongoing conflict with neighboring Ukraine, are pressuring Europe’s
oil and gas producers to adopt stronger measures for managing their
assets, complying with stricter country and EU regulations and
controlling costs. Producers are meeting these challenges by
turning to technologies such as generative AI (GenAI), machine
learning (ML) and digital twins to improve their existing
enterprise asset management (EAM) processes as well as enhance
their cybersecurity.
Being asset-intensive, the oil and gas industry has been slower
than most at adopting digital technologies. However, with petroleum
and natural gas prices likely to increase while demand decreases,
amid the European Union’s continued push for net-zero emissions,
producers are forced to find ways to improve efficiency while
reducing costs.
“Geopolitics, geology and ecology are conspiring to shift the
world’s energy trade patterns,” said Jan Erik Aase, partner and
global leader, ISG Provider Lens Research. “The providers that
emerge as leaders in the oil and gas sector will be the ones that
guide producers through the maze of new, and sometimes conflicting,
energy regulations; help them shift their capital allocations to
invest in greener, more sustainable processes, and improve the
security of their supply chains.”
The report also explores other trends, including increasing
cyber security threats to the EU’s critical infrastructure.
Providers in the oil and gas space are reacting to the new European
Commission Cyber Resilience Act by bolstering their cybersecurity
services, particularly related to their use of cloud-based storage,
data and infrastructure.
For more insights into the challenges faced by Europe’s oil and
gas providers, and how software providers help address those
challenges, see the ISG Provider Lens™ Focal Points briefing
here.
The 2024 ISG Provider Lens™ Oil and Gas Industry – Services and
Solutions report for Europe evaluates the capabilities of 33
providers across four quadrants: Enterprise Asset Management,
Next-Gen IT/OT Services, Data Management and Cloud Computing, and
Energy Transition Services.
The report names Accenture, Capgemini, Deloitte, IBM Consulting,
Infosys, TCS and Wipro as leaders in four quadrants each. Cognizant
is named a leader in three quadrants. EY, Hitachi Digital Services
and LTIMindtree are named leaders in two quadrants each. LTTS and
PwC are named leaders in one quadrant each.
In addition, Cyient, LTIMindtree, LTTS and Publicis Sapient are
named as Rising Stars — companies with a “promising portfolio” and
“high future potential” by ISG’s definition — in one quadrant
each.
In the area of customer experience, Capgemini is named the
global ISG CX Star Performer for 2024 among oil and gas industry
services and solutions providers. Capgemini earned the highest
customer satisfaction scores in ISG's Voice of the Customer survey,
part of the ISG Star of Excellence™ program, the premier quality
recognition for the technology and business services industry.
The 2024 ISG Provider Lens™ Oil and Gas Industry – Services and
Solutions report for Europe is available to subscribers or for
one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Mexico,
Brazil, the UK, France, Benelux, Germany, Switzerland, the Nordics,
Australia and Singapore/Malaysia, with additional markets to be
added in the future. For more information about ISG Provider Lens
research, please visit this webpage.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI, cloud and data analytics; sourcing advisory; managed
governance and risk services; network carrier services; strategy
and operations design; change management; market intelligence and
technology research and analysis. Founded in 2006, and based in
Stamford, Conn., ISG employs more than 1,600 digital-ready
professionals operating in more than 20 countries—a global team
known for its innovative thinking, market influence, deep industry
and technology expertise, and world-class research and analytical
capabilities based on the industry’s most comprehensive marketplace
data. For more information, visit www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20250109880528/en/
Press Contacts:
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Philipp Jaensch, ISG +49 151 730 365 76
philipp.jaensch@isg-one.com
Grafico Azioni Information Services (NASDAQ:III)
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Da Dic 2024 a Gen 2025
Grafico Azioni Information Services (NASDAQ:III)
Storico
Da Gen 2024 a Gen 2025
