Energy LandscapeThe energy industry has been through significant changes, affecting operational measures and productivity. However, the wake of trends points to the possibility of experiencing further innovations. It’s time to envisage the future and ponder upon the trends and innovations in 2022 within the energy industry, which are:

1. Expanding Training Programs

The global industrial disruptions in 2020 triggered significant changes to the production and prices of oil and gas. As demand and market prices recover worldwide, the impact can still be felt regarding the available workforce. Energy companies now have to scramble to source, train, and retain clients.

It's predicted that more workers may want to leave the energy industry within the next five years. This suggests an increased need for human labor. In 2022, more energy companies will invest in employee recruitment, training, and retention to bridge the existing workforce gap. They may need to consult third-party platforms such as Energy Job Shop for recruitment.

2. Increased Technological Integration

In 2022, technological innovations will combine with strategies to play critical roles in decision-making and productivity within the energy industry. With more companies working to build more robust IT systems, IT budget rates are expected to rise. Also, the corporate culture is shifting to embrace data-driven decision-making and digital twin technology.

Therefore, to gain competitive advantages, energy companies are expected to embrace innovations that enable them to adapt quickly to changing business needs while providing real-time solutions to the market. More companies will find tech-based innovations pertinent.

3. Improved Asset Management Strategy

Oil and gas companies spend a lot of money acquiring and managing assets used in production. The high cost of production also has massive potential for increasing revenues. Nonetheless, energy companies must find more productive ways to manage assets.

In 2022, automation systems integrated into energy companies will increase as they have been proven to save costs and increase efficiencies in oil and gas. Automating maintenance schedules ensures that production assets are serviced proactively to reduce downtime. From utilizing IoT sensors to drones, energy companies are expected to enhance their asset management strategy with modern tech.

4. Ongoing Need For Reliable And Affordable Energy

Despite the challenges experienced by the energy industry, the growing population of energy users across the globe still ask for reliable and affordable energy. The increased demand for energy is driven by several innovations such as renewable penetration, the adoption of electric vehicles, and the desire to dispose of fossil fuels.

As populations and economies develop greater demands for energy, energy companies have the opportunity to scale and earn greater returns in 2022. Companies willing to take risks can position for tremendous success by eliminating existing obstacles and making necessary connections to optimize operations. This will be an essential strategy for gaining a superior advantage in the industry.

5. Key Vendor Partnerships

Oil and gas companies often have separate owners for managing IT vendors and the engineers they partner with. However, the pandemic has caused energy companies to reconsider traditional vendor engagement. While oil and gas chief information officers or CIOs continue to pioneer their relationship with prominent IT vendors, we may also see them developing more open partnerships with key vendors in critical areas such as engineering in 2022.

The ability of these vendors to offer an integrated suite of technologies that can serve as a domain hub within emerging enterprise platforms distinguishes them from other vendors. It makes them a viable option for energy companies. In 2022, more vendors are expected to come to the scene.

6. Improved Field Worker Connection

The events of 2020 have made many oil and gas companies sell assets, reduce capital and operating expenditure, and shed their workforce. The resulting scarcity of financial and human resources has compelled energy companies to explore more effective means of improving workforce productivity even under challenging conditions. One such strategy is the improvement of field workers’ connectedness.

While remote operations are now a common trend in the energy industry, oil and gas companies in 2022 will turn their attention to other connection tools such as machine vision, augmented reality, and wearable location devices. These tools are expected to foster a connection to drive efficiency and reliability to workers.

7. More Efficient Management Of Carbon Chaos

In 2022, energy companies will focus on managing carbon emissions and their various effects, such as greenhouse effects. As conversations on climate change become more intense, many oil and gas companies are more likely to establish roadmaps to avoid carbon chaos. To make this plan achievable, energy companies may need to adopt clean energy and solar solutions. More so, green infrastructures are expected to be provided to meet emerging carbon management demands.

Conclusion

Trends and innovations reveal the direction of the future. As energy companies continue to recover from the disruptions caused by the pandemic, they must keep an eye on the emerging trends in the energy landscape. This is needed to position correctly for the future and maximize unavoidable changes for growth and profitability.