What is the Gartner Hype Cycle for Upstream Oil and Gas Technologies?
According to Gartner, The Gartner Hype Cycle illustrates the complexity of challenges faced by the oil and gas industry. In the 2016 report Gartner says “CIOs and IT leaders should take this information into planning engagements with business, engineering and operational leaders in order to identify the appropriate priority order and timing for implementation. To avoid establishing unattainable commitments, it is crucial for CIOs to set realistic plans, especially considering the leaner market conditions of 2016.”
We are proud to be mentioned as a sample vendor in three categories of the Gartner Hype Cycle for Upstream Oil and Gas technologies, 2016: Integrated Planning and Operations, Portfolio Management Solutions and Petroleum Economic Solutions.
Integrated planning and operations (IPO) solutions enable comprehensive planning, optimization and execution of operational activities from concept to implementation with a high degree of transparency and a low degree of data administration. These solutions optimize business or functional performance, reduce unplanned outages and improve safety.
Portfolio management solutions allow oil and gas companies to integrate and optimize their global capital programs in alignment with dynamic market conditions. In turn, more comprehensive and interactive management of capital programs enables upstream companies to better simulate future business performance, evaluate more potential investment scenarios and make better business decisions.
Historically, large companies have invested heavily in complex, custom-coded applications for petroleum economics, but these are becoming too rigid and inflexible for the modern business environment. While smaller companies have relied on spreadsheets to integrate reserve and business planning data, these are too slow, resource-intensive and error-prone.
Experience 3esi-Enersight solutions for yourself with a live demonstration, and find out how 3esi-Enersight can help you address your oil and gas planning challenges. Our experienced team will provide you with a high-level or in-depth overview of 3esi-Enersight’s solutions.
Gartner Disclaimer Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
(1) Gartner, Inc. “Hype Cycle for Upstream Oil and Gas Technologies, 2016” by Rich McAvey and Morgan Eldred. July 21 2016.