Studies estimate that between 20-30% of operational costs are due to incomplete information leading to delayed or wrong decisions.
The oil and gas industry continues to be one of the most complex and data-intensive sectors globally. As of 2023, the industry was valued at approximately $6.7 trillion, with oil demand reaching over 100 million barrels per day, a historic high. However, the industry faces immense challenges, particularly with increasing pressure to reduce carbon emissions and optimize operational efficiency to stay competitive.