CLOUD-BASED PROJECT
MANAGEMENT PLATFORM
Estimated $4.5B in annual savings for the Canadian oil & gas industry
From implementing and utilizing digital services, including advanced project management systems
Currently, the oil and gas industry uses deterministic methods to manage projects, which results in delays, cost overruns, and baseline variances. However, with decreasing oil prices and growing socioeconomic risk factors, we expect there to be a move towards smarter management systems that will take risk probability and impact into account automatically, as well as work performance data that is generated throughout the project lifecycle.
Industry Information and Market
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$101 billion annual revenues
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The largest industry in Canada
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Employs more than 500,000 Canadians
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3rd largest oil reserve in the world
Prior to the COVID-19 pandemic, the Canadian oil and gas industry faced daunting challenges. Stalled or cancelled infrastructure projects prevented producers from obtaining fair market value for their products. The COVID-19 pandemic amplified these challenges by almost instantly obliterating 20-30 million barrels per day of oil demand, creating an oversupplied market that ultimately saw commodity prices sink to unprecedented negative numbers.
Canadian Oil and Natural Gas
Oil & Gas Project Management
There are approximately 300,000 project managers, specialists and coordinators involved in the exploration, development, and operations of oil fields and wells.
