Growth Prospects
- The global upstream industry will invest over $500 billion and generate over $800 billion in free cash flows in 2024. (3)
- 81X The increase in unconventional oil and gas productivity due to technology over the last decade. (6)
- 60% of oil and gas executives expect digital technologies and AI to change their businesses significantly by 2030. (2)
- $5 per barrel of oil equivalent (BOE) captured for upstream companies through digitalization initiatives in exploration, well management and maintenance. (1)
Workforce Challenges
![](https://roo.ai/wp-content/uploads/2024/02/wc-1.png)
Oil and gas companies in North America are having difficulty finding frontline workers. (2)
![](https://roo.ai/wp-content/uploads/2024/02/w-2.png)
the percentage of the existing workforce in oil and gas that is expected to retire within the next 7 years. (5)
![](https://roo.ai/wp-content/uploads/2024/02/w-3.png)
of oil and gas executives say reskilling the workforce will be critical to company success going forward. (6)
Energy Transition
![](https://roo.ai/wp-content/uploads/2024/02/Group-5-1024x57.png)
oil and gas executives cite operational efficiency gains and direct emissions reductions as key metrics for assessing energy transition progress. (3)
![](https://roo.ai/wp-content/uploads/2024/02/Group-6-1024x57.png)
oil and gas executives look to adjacent products such as natural gas, carbon capture, biofuels and hydrogen as key to their low-carbon investment strategies.
![](https://roo.ai/wp-content/uploads/2024/02/Group-7-1024x57.png)
oil and gas executives say digital technologies to improve efficiency are among their top investments for decarbonization initiatives. (7)