Abstract
The digital transformation of the economy as the most important stage of scientific and technological progress and transition to a new technological structure is becoming one of the determining factors in the development and competitiveness of the domestic upstream sector. Prospects for innovative development of oilfield service companies are the key technological areas within the first project of the Hi-Tech Strategy of the German Government until 2020 – “Industry 4.0”. The purpose of this study is to assess the prospects for innovative development of the domestic oilfield service industry in the context of the digitalization of the oil and gas industry.
 The subject of the research is the process of the formation of key technological lines of “Industry 4.0” and their impact on the domestic oil and gas sector. The research is based on logical-theoretical and empirical analyses. The main factors that determine processes of digital transformation in the oil and gas industry are considered; the results of digitalization processes in the largest foreign and Russian industry companies of the upstream and oilfield services segments are presented. The information base is made up of data from oilfield service and oil and gas producing companies, presented on the official websites of companies in the public domain on the Internet. It has been proven that, unlike the world's leading companies in oilfield services segment, independent domestic oilfield service companies provide mainly traditional service technologies in a fairly narrow range. The limited scope of functioning and technological capabilities of Russian companies is explained by the lack of necessary investment in development and expansion of business, as well as interest on the part of the state and corporate sectors in the development and replication of domestic technologies and the formation of a full-fledged oilfield services market in Russia.
 
Highlights
Today foreign and domestic oilfield service companies, as well as oil and gas industry as a whole, face great challenges
The consequences of structural changes in the oil and gas industry have proved to be highly controversial for traditional forms of business organization
The experience of technological development of the global oil and gas industry has had a significant impact on digitalization of the industry, forming high-tech companies, primarily in the upstream and oilfield services sectors
Summary
Today foreign and domestic oilfield service companies, as well as oil and gas industry as a whole, face great challenges. Opportunities offered for oilfield service companies are significant, associated with changes in all aspects of business, including technology, products, processes, as well as organizational capabilities and operating models. The global experience of running oil and gas business testifies to development of new technological solutions using large-scale digitalization as the most important way to survive and maintain profitability indicators for “supermajors” and national oil companies. This direction requires a deeper restructuring of the operating model of companies and a change in management philosophy, which is even more important for suppliers and contractors
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
