Top 10 Oil And Gas Solutions Companies in Middle East - 2022
The dawn of 2022 held hope for several industries and businesses, including oil and gas companies. The industry is undergoing a major transformation led by companies committing to climate change and transforming business models, practising capital discipline, focusing on financial health, and practising capital discipline. Statistics reveal that the compound annual growth rate (CAGR) of 11.8 per cent equates to a growth of $6,819.04 million in 2022. Essentially, the companies have rearranged their operations and recovered from the COVID-19 impact, which had led to containment measures involving social disconnection, remote working, and the closure of commercial activities, which created operational challenges.
As the industry begins its transformation journey, simply managing or riding the oil price cycle is no longer feasible. Oil and gas companies are taking advantage of big data analytics and artificial intelligence (AI) to enhance decision-making capabilities and ultimately drive profits. The companies in this industry gather enormous amounts of raw data regarding the performance of refineries, pipelines, and other infrastructure. An extensive network of sensors is used on the oil rig to accomplish this. Through big data analytics, the companies can detect patterns that allow them to quickly react to changes or potential defects and thus save costs. AI enables companies to take better drilling and operational decisions.
The pace of development in technology has spawned a multitude of service providers in the market, which makes picking the right partner to guide them on the implementation of digital assets difficult. This edition brings the spotlight to the key developments in the space and how companies can choose the right partner to streamline their operations. This edition features thought leadership articles from Christopher McDonald (CEO Lamprell) and Amir Mohsen Heshmati, (President and CEO of ImageGrafix) who speak about industry trends that are set to transform the market in terms of safety, efficacy and smart solutions. CIO Review has compiled a list of the top oil and gas companies that have put multiple firms across a highly competitive industry on the right path while integrating software and hardware into their facilities to overcome their hurdles. We hope this issue of CIO Review helps you build the partnership you and your firm need to foster a technologically-driven operations environment.
We present to you CIO Review’s “10 most promising Oil and Gas consulting companies 2022”.