Oil and gas companies are facing several long-term challenges, including climate change and the scarcity of easily recoverable hydrocarbons. The industry must adapt and change as a result of these challenges. The two main benefits of cloud computing for oil and gas companies are the decrease in IT costs and the facilitation of a number of other technologies that will be crucial for an industry requiring a large adjustment in the face of mega-themes such as sustainability.

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Cloud allows companies to scale their data management and storage, driving greater flexibility in infrastructure costs. The high computing power delivered via cloud platforms supports the adoption of other technologies, such as intelligent management of physical assets, which facilitates greater operational efficiency. 

Leading oil and gas suppliers in cloud 

Oil and gas companies began tentatively adopting cloud computing over a decade ago, but in recent years the importance of the cloud in the industry has grown. More companies are adopting cloud-first strategies indicating the long-term importance of the cloud. Cloud computing for oil and gas is a facilitator for the adoption of other valuable technologies that can save time, money and energy, including artificial intelligence and machine learning.

Adopting the cloud and associated technologies can be an effective strategy to protect against universal industry challenges. Cloud adopters will be better placed to swiftly implement new time, energy and cost-saving technologies that will help oil and gas companies adapt to the changing industry. 

Leading adopters of cloud computing in the oil and gas industry include Chevron, BP, Shell, Total, and ExxonMobil. 

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Discover the leading cloud suppliers in oil and gas 

Using its experience in the sector, Offshore Technology has listed some of the leading companies providing products and services related to the cloud. 

The information provided in the download document is drafted for oil and gas executives and technology leaders involved in oil and gas cloud solutions. 

The download contains detailed information on suppliers and their product offerings, alongside contact details to aid purchase or hiring decisions. 

Amongst the leading suppliers of cloud computing to oil and gas companies are AVEVA, Microsoft, Pivvot, Cegal, SAP and Oracle. 

Future of cloud computing in the oil and gas industry 

The market size of cloud in the energy industry is forecast to grow by a compound annual growth rate of 5.6% to 2024. Oil and gas companies that best exploit the potential of the cloud in their business and implement the technology strategically stand to benefit from this theme.