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ISG to publish industry report

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World Pipelines,

Information Services Group (ISG), a leading global technology research and advisory firm, has launched a research study examining service providers that are meeting the changing needs of oil and gas companies in the digital age.

The study results will be published in a comprehensive ISG Provider Lens™ report, called Oil and Gas Industry – Services and Solutions, scheduled to be released in January 2023. The report will cover companies offering services – including asset management, capital projects management, cloud computing and energy transition services – that help oil and gas companies innovate and improve their operations.

Oil and gas company buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

The oil and gas industry is going through major changes, including rising demand, declining inventory and significant disruptions, such as the one resulting from the Ukraine crisis. While these forces are currently driving prices up, companies face growing challenges around price volatility, worker safety, remote asset monitoring and data access. At the same time, the industry is beginning to focus on making the transition to low-carbon resources.

“The changes hitting the oil and gas sector right now are making efficient operations and digital innovation more important than ever,” said Jan Erik Aase, Partner and Global Leader, ISG Provider Lens Research. “Companies need new capabilities like cloud computing, AI, automation and operational security, and service providers are making this possible.”

ISG has distributed surveys to more than 100 oil and gas services and solution providers. Working in collaboration with ISG’s global advisors, the research team will produce five quadrants representing the services and solutions the typical oil and gas enterprise is buying, based on ISG’s experience working with its clients. The five quadrants are:

  • Enterprise asset management, evaluating providers of EAM services and solutions that help oil and gas companies increase asset performance, extend the useful life of assets and reduce operational costs.
  • Next-gen IT/OT services, assessing providers of IT managed services to the oil and gas industry, including application development and maintenance, cybersecurity and IoT-based solutions, that support the convergence of IT and OT and help clients operate efficiently and comply with regulations.
  • Capital projects management (CPM), covering providers that offer oil and gas CPM services that allow clients to design and carry out complex, capital-intensive projects on time and within budget.
  • Data management and cloud computing, evaluating providers of data handling and cloud services for oil and gas companies, enabling the transition from legacy systems and the centralisation of data and processes in the cloud.
  • Energy transition services, assessing providers that offer a range of energy transition services that allow oil and gas companies to meet their net-zero carbon transition targets and develop new business models.

Geographically focused reports from the study will cover the global oil and gas technology market and examine products and services available in North America, the UK and the Nordics. ISG analysts Swadhin Pradhan, Harish B, Mohd Aves Malik and Hemant Kumar Chandak will serve as authors of the reports.

A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as oil and gas service and solution providers can contact ISG and ask to be included in the study.

All 2022 ISG Provider Lens evaluations now feature new and expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalised survey URL. Participants will receive a copy of this report in return for their feedback.

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US pipeline news Digitilisation news Trends and analysis