The oil and gas industry face an unprecedented challenge today as the global oil demand picks up a sluggish recovery in an oversupplied market amidst an economy severely impacted by the COVID-19 pandemic. Oil and gas organizations need to confront key issues on multiple fronts as the global economy slowly picks up momentum from a hiatus caused by the pandemic: from resuming operations and ensuring employee wellbeing to optimizing operating costs and managing working capital shortages. The current situation adds to the existing historical issues and challenges faced by the industry, like controlling emissions, managing an ageing workforce, and dealing with extreme price volatility.
In these tumultuous times, digital transformation has become a linchpin of the long-term strategy for oil and gas players. As per a recent EY survey, around seventy five percent of industry executives are already implementing digital transformation initiatives like intelligent automation to optimize operations * . Comprising of technologies like robotic process automation (RPA)