Tech adoption in oil and gas exploded in 2020
The global pandemic struck the oil and gas industry like a lightning bolt. Industry insider (and part of the Oil and Gas Global Network team) Mark LaCour called it a “double black swan” event, hitting both the upstream and downstream businesses equally hard by “rare, severe and unforeseen” events - as the black swan theory coined by Nassim Nicholas Taleb denotes.
“No one was flying, driving, or buying soccer balls and lipsticks. The entire industry was trying to figure out which one of their legs to cut off to survive. And the only option to fix it was through technology.”
LaCour says that technology adoption in oil and gas grew “a million times more” in 2020 than over the last 20 years combined.
“When all is said and done, 2020 hit at an awesome time. We have new capabilities, new solutions and a younger workforce that has grown up with technology. They are the ones asking, ‘why are you still using Excel?’, and there’s no one around anymore saying, ‘because I said so’.”
Mark LaCour has been watching the development of the industry with an eagle eye for the past 25 years. He says he’s been waiting for a moment like this, a perfect storm of technological and cultural readiness, mixed with a healthy dose of public pressure.
Photo: Meet Mark LaCour. Mark has lived and worked in the oil and gas industry for more than 25 years. He currently hosts the top oil and gas podcasts in the world. He is a sought-after public speaker, author, board member and he has one of the top oil and gas presences on social media.