Build or buy? The choice that defines how the oil and gas industry companies modernize

Build or buy? The choice that defines how the oil and gas industry companies modernize.

Overview

Following the innovation leaders.

Choosing which trends to incorporate and reducing cost risks.

The IT-OT overlap.

C-level decision makers seek security, compliance, and efficiency.

Three critical success factors.

Finding technology providers with innovation, domain expertise, & strong capabilities.

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Natacha Baroni, Head of Energy Product Marketing at T-Mobile for Business

Executives at oil and gas companies are looking for more agile and efficient operations through digital transformation in the energy industry and digitally altered business models. The investments made to modernize technology now will translate into future revenue.

According to the recent IDC TechBrief: Services Solutions, enterprises can move forward in one of two ways: build or buy.

Build or buy?
If a project doesn’t require extensive configuration, it’s possible to complete it in-house. In fact, for some tasks, in-house digital engineering capabilities are mandatory. But complications that trip up in-house projects include staff turnover, complexity, security concerns, and insufficient expertise.

That’s where skilled service partners come in. Oil and gas companies are now more comfortable bringing in technology vendors to help transform their operations. Technology companies today provide offerings ranging from system integration, strategy development, engineering, and managed services. Typical projects range from automating rig or production site operations to back-office task execution with robotic process automation.

One critical success factor is a well-defined scope, which is the byproduct of a strong relationship between the vendor and client. But assuming a technology service company has wide-ranging domain experience, they may be able to support a wide scope.

Following the innovation leaders.

Follow the leaders.

While first adopters of digital innovation in the oil and gas industry tended to take on science projects or technologies in their infancy, the companies right behind them on the innovation adoption curve are usually looking for more certainty and reduced cost risks. And that’s good. Understanding the scope of what others in the industry are doing—and deciding which trends to incorporate—makes you more than another mindless decision maker. In fact, it makes you smart because you won’t be left behind.

But when you finally take the plunge, you should measure vendors by the following criteria to make sure they can get the job done: cost coverage, execution, domain experience, project staffing, innovation, support, and maintenance.

Find out about smart solutions for your business.

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The IT-OT overlap.

The investment in technology services—which can be extensive depending on scope—is commonly split between IT and operations teams. Expanded project timelines can bloat costs further and potentially detract from daily workflows and operations.

Although this IDC report sees a heavy overlap between IT and operations departments, the authors expect the latter to eventually take the lead in decision making. For now, oil and gas companies need partners who can work with both C-level decision makers and check the boxes for security, functionality, compliance, and completing the project with maximum efficiency.

Three critical success factors.

Critical success factors.

In the end, three factors lay the foundation for success when working with technology service providers:

  • Innovation: Clients want technology partners who can guide them on their technology journey.
  • Domain expertise: Operations groups want vendors who speak the vernacular and demonstrate industry acumen.
  • Capabilities: While companies often select best-of-breed solutions for each project, a full suite of strong capabilities offers an advantage.

For example, T-Mobile for Business provides 5G enhanced mobile broadband for strong connections in remote operations and private 5G networks at refineries for low-latency data transfer to edge computing for quick processing and automated decision making. Highly skilled vendors like T-Mobile provide the must-have services that enable implementation of advanced digital technologies and pave the path to a more efficient and profitable future for oil and gas companies in the energy industry.

T-Mobile has America’s largest and fastest 5G network, imagined for tomorrow but ready to give you an edge today. At T-Mobile for Business, we’re focused on providing your business with connectivity solutions and dedicated, exceptional service you need to help you stay ahead. To learn more about how T-Mobile is fueling digital transformation for today’s energy companies, visit our energy industry page.

About the author:

Headshot of Natacha Baroni

Natacha Baroni is the Head of Energy Product Marketing at T-Mobile for Business, with over a decade of experience enabling customers in the energy industry improve efficiency, digital transformation, and safety. Specializing in marketing and product management, Natacha uses her experience to bring industry and customer perspectives into the development of business initiatives and go to market strategies to best meet industry needs.

Natacha holds a B.Sc. in Chemistry from the University of Wisconsin – Milwaukee and an MBA from Olin Business School – Washington University in St. Louis.

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