Abstract:

Digital transformation presents great opportunities for businesses for creating and capturing value. The development of technologies such as cloud computing, social media, and big data analytics is driving trends that offer enormous potential to the petroleum industry. Oil and gas are in both the energy and environmental sectors, which are potential areas to promote the digital transformation. Comparing to other sectors, the petroleum industry’s approach to digital transformation is evolutionary rather than revolutionary. Since the Industrial Revolution, the petroleum industry has played an important role in the economic transformation of the world. The petroleum industry has the opportunity to continue affirming its important role through digital transformation. Digital transformation is an urgent solution for the oil and gas sectors in the energy transition, helping businesses optimize exploration, development and production costs as well as increasing the their competitiveness with other energy sources, especially renewable energy sources. The report provides an overview of digital transformation trends, the current status of digital technology application, related difficulties and barriers, thereby making recommendations, some recommendations on targets and orientations for the implementation of the digital transformation in petroleum exploration and production in Vietnam.