DIGITAL TRANSFORMATION IN THE ENERGY INDUSTRY THE CICERO WAY
Digital Transformation is on the strategic and operational agenda across the energy industry worldwide and rightly so.
The price of energy, both hydrocarbons and renewable, is still volatile and current supply and demand projections indicate that this situation is not likely to change significantly in the near future.
Whilst significant progress have been achieved within the field of cost reduction and productivity improvement, the industry is now actively seeking new ways of optimizing operations and Digital Transformation has the potential to enable significant cost savings and productivity improvements across the value chain.
Thus, the shift towards Digital Transformation and further digital integration is rapidly gaining momentum.
However, even though significant funds are being poured into these efforts, many operators are struggling to identify how to efficiently plan and initiate their digital initiatives.
We have spent much time and resources researching Digital Transformation initiatives across the industry. This work has enabled us to build a comprehensive picture of the actual status of Digital Transformation efforts in the industry across Big Oil, NOC’s and Independents.
Key learnings from this research and from having conversations with our extensive network of energy executives have enabled us to build an approach and a tool kit which enables us to support clients in their digital endeavours.
Our approach consists of 3 stages :
Diagnostics / Digital readiness / Existing data availability and analysis
Project and initiative screening model
Implementation planning and support
One of the key learnings from our research is that most successful Digital initiatives are bespoke and individually designed and adapted to the individual asset. Thus, our models enable us to assist clients in building a step by step digital approach built on a cost/benefit mindset and ensuring that the organization has the time and resources to adjust to the new ways of working.
Proper Change Management and engaging the work force at all levels are essential for succeeding with any Business Transformation effort. Perhaps even more so when it comes to Digital Transformation.
Please feel free to contact us for more details.