The 2015 edition of Technology Radar combines our expert knowledge with industry insights, to provide data-driven findings on the role of innovation in the current and future upstream oil and gas industry. Through in-depth interviews with senior industry figures and a survey of more than 450 oil and gas industry professionals from across the global industry, it provides a compelling case for increased technological innovation.
- 47% of oil and gas executives say they have fallen short of their innovation goals in 2015 – a twofold increase since early 2014.
- Two thirds of respondents say they are under pressure to collaborate more with other organisations within the sector.
- The study points to the continuing challenges to innovating successfully, including collaboration, data collection and analysis and industry culture, highlighting the continuing need for innovation in the current industry environment and for the future sustainable development of the industry.
The downturn in the oil price is strengthening the need for innovation, not weakening it. The unique insights provided by this report show industry professionals how they can address the challenges to better innovation and enhance operational performance.