A white paper issued by Siemens
A digital roadmap for offshore oil and gas
After two and a half years of cutbacks, reduced capital spending, and project delays, a harsh reality is setting in for the oil and gas industry: “lower-for-longer” oil prices may be the new norm and companies are going to have to change the way that they do business in order to remain competitive.
This comes as the world sits on the cusp of the Fourth Industrial Revolution – a time when the proliferation of digital tools and technologies is enabling businesses across every industry to work smarter, make better decisions, and improve project outcomes. From improving patient diagnoses in healthcare, to guaranteeing on-time arrivals in rail networks, to increasing production in automotive factories, the capabilities offered by Industry 4.0 are real and they are fundamentally transforming the way businesses operate.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2017, which ended on September 30, 2017, Siemens generated revenue of €83.0 billion and net income of €6.2 billion. At the end of September 2017, the company had around 377,000 employees worldwide. Further information is available on the Internet at www.siemens.com.