Oilfield Services Industry: Downturn to Digital Transformation
The Oil and Gas industry is reeling under the current industry downturn, since the prices of crude oil plummeted in early 2014. Its been more than two years since the prices have remain low with no recovery in sight. To improve profitability of the business, oilfield services companies such as Schlumberger, are looking at digital transformation to re-invent how they do their business — in order to achieve cost optimization and remain profitable during the industry downturn.