Energy firms prioritising digital technologies: Accenture officials

Energy companies have started adopting digital technologies for creation of economic sustainability, said top officials from Accenture – the global technology and consulting firm.

“Energy is one of the critical enablers of economic prosperity, sustainable development and societal health. Recent global and geopolitical events further accelerate the need for comprehensive solutions in the industry. In our recent conversations with clients, the adoption of digital technologies remains a key priority in facing disruptions,” said Anil Pandey, strategy lead for oil and gas resource industry in the Middle East, on requests received from its clients.

Companies are seeking to transform and build the core engineering and production systems around digital solutions to drive new levels of efficiency. “This ensures that physical machines and software systems are synchronised to unlock previously unseen cost efficiencies thus driving up investment capacity,” he said during an interview.

There has been more focus on shaping digital strategies on emerging technologies such as Metaverse.

Highlighting some of the other priorities for companies, Pandey noted: “Ideating and creating new business models to drive differentiated value for stakeholders and new revenue streams for businesses using data and AI. Building a digital-ready workforce by creating a robust ecosystem of suppliers, distributors, start-ups, and customers allows organisations to scale new business models across the digital value chain rapidly. Meeting sustainability goals by leveraging digital technologies.”

Silvia Rigato, strategy and consulting lead for energy and utilities in the Middle East, underlined that achieving speed and agility is more critical than ever for organisations to meet today’s challenges and seize new opportunities.

“While companies strive to unlock these opportunities, they must also deliver value responsibly. On a company level, Accenture addresses a threefold imperative to use technology more sustainably, more specifically to use technology as a vehicle for being more sustainable, and to do all of that at scale,” she said.

Recently during ADIPEC 2022, Accenture, Petronas and Amazon Web Services (AWS) inked an agreement on collaborating to evaluate commercialisation opportunities for the cloud-based logistics solution and services platform STEAR. Developed by Petronas in partnership with Accenture in 2021, STEAR is designed to optimise the logistics operations and costs of offshore vessels using technologies.