The oil and natural gas industry is undergoing a transformation due to increasing competition, changing consumer preferences, and government policy. This transformation is taking the shape of improved supply chain discipline and streamlining business operations in order to achieve better operating margins. Haliburton Co., Microsoft Inc., and Accenture Plc. have partnered to migrate Haliburton’s existing data centers to the cloud and enhance digital offerings. Oil and gas companies are now rapidly moving their IT infrastructure out to the Cloud as well as adopting Business Process Management (BPM) systems. Barclays estimates that the upstream market digital services industry will grow from less than $5 billion in 2020 to more than $30 billion by 2025, resulting in $150 billion in annual savings for oil producers.
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