Nordic Oil and Gas Firms Innovate as Challenges Mount
Oil and gas enterprises in the Nordics are adopting new digital technologies to boost output, reduce carbon emissions and cut costs as they navigate multiple industry disruptions, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2022 ISG Provider Lens™ Oil and Gas Industry — Services and Solutions report for the Nordics finds that the regional industry faces ongoing effects from the COVID-19 pandemic, a sharp rise in commodity prices, growing demand for decarbonization, and supply and demand disruptions triggered by the war in Ukraine.
“Producers in the Nordics have responded strongly to rising demand for both oil and gas and green energy resources,” said Ola Chowning, partner, North Europe, at ISG. “Digital transformation is helping them achieve several important goals.”
Companies in Norway, the region’s leading oil and gas supplier, significantly increased capital investments in 2022 as the country opened up new oilfields, partly to ease supply constraints in Europe caused by the war, ISG says. They plan to continue boosting capital investment in 2023. As the companies expand their infrastructure, they are integrating IT and operational technology (OT) systems to share, generate and transfer data that can be used to improve operations.
At the same time, Nordic oil producers are standing by commitments to achieve regional net-zero goals and reduce the environmental impact of fossil fuel extraction, the report says. Some are cutting their carbon emissions by selling off some fossil fuel operations and buying renewable energy projects and companies.
“Decarbonization will be a major issue for oil and gas companies in the Nordics for years,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Many global and regional service providers can help them carry out carbon monitoring and reporting and renewable energy projects.”
As firms adopt innovative technologies, demand for qualified workers is growing, widening an already serious skills gap in the industry, ISG says. Many digital and technology workers at oil and gas companies have been left behind as professional standards have quickly changed, and the retirement rate in the industry is high. Filling these jobs is especially challenging due to relatively high wages in the region and potential employees’ concerns about the future of oil and gas.
In addition, the report examines a range of other trends affecting the Nordic oil and gas industry, including the growing importance of cybersecurity due to IT/OT integration and the rising demand for advanced solutions to manage capital projects.
The 2022 ISG Provider Lens™ Oil and Gas Industry — Services and Solutions report for the Nordics evaluates the capabilities of 31 providers across five quadrants: Enterprise Asset Management, Next-Gen IT/OT Services, Capital Projects Management, Data Management and Cloud Computing, and Energy Transition Services.
The report names Accenture and TCS as Leaders in all five quadrants. It names Capgemini, LTIMindtree and Tietoevry as Leaders in four quadrants each and IBM, Infosys and Sopra Steria as Leaders in two quadrants each. CGI, Cognizant, Deloitte, DNV, EY, Kongsberg Digital, Orange Business Services, PwC, Vysus Group and Wipro are named as Leaders in one quadrant each.
In addition, Birlasoft, Cognizant, DNV, Hitachi Vantara and Vysus Group are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.
The 2022 ISG Provider Lens™ Oil and Gas Industry — Services and Solutions report for the Nordics is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005289/en/
Contact information
Press:
Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG
+1 978-518-4520
isg@matternow.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Azafaros Secures € 132M in Oversubscribed Series B Financing to Advance Phase 3 Clinical Programs of Innovative Therapies in Lysosomal Storage Disorders13.5.2025 08:00:00 EEST | Press release
Azafaros, a clinical-stage company focused on developing disease-modifying therapeutics to offer new treatment options to patients with rare lysosomal storage disorders, announces the completion of an oversubscribed €132M Series B financing led by Jeito Capital, co-led by Forbion Growth and with additional participation from Seroba, Pictet Group and existing investors Forbion Ventures, Schroders Capital and BioGeneration Ventures (BGV). This financing enables Azafaros to accelerate the development of its lead product nizubaglustat, scheduled to enter Phase 3 studies for Niemann-Pick disease Type C (NPC) and GM1/GM2 gangliosidoses later this year, as well as expanding the Azafaros pipeline to other indications. Rachel Mears, Partner at Jeito Capital; Julien Elric, Senior Principal at Jeito Capital; and Audrey Cacaly, Principal at Forbion Growth will also join Azafaros’s Board of Directors as Board members. Founded in 2018 by BGV, leveraging science from Leiden University and Amsterdam U
Presidio Investors is Pleased to Announce the Addition of Christian Schütte as Its Newest Operating Partner12.5.2025 20:04:00 EEST | Press release
Christian brings more than 20 years of global experience in investment banking, private equity, and operational leadership, with a proven track record of driving transformational growth across industries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250512473756/en/ Christian Schütte Christian began his career at J.P. Morgan in New York and London, where he worked in the M&A and Corporate Finance teams. He later joined Fortress Investment Group and was instrumental in launching its German operations. During his tenure, he helped raise over €1.5 billion in equity and managed a wide array of investments, including non-performing and performing loans, private and public companies. He went on to join EQT Group, where he focused on mid-market growth and succession investments. Notably, he led the consolidation of nine digital marketing agencies into a €100 million market leader, building one of the most comprehensive digital ma
Introducing Joblio – The Future of Ethical Recruitment12.5.2025 19:30:00 EEST | Press release
Joblio, a global ethical recruitment platform, officially launches today to tackle the broken labor migration system—long plagued by exploitative intermediaries, high recruitment fees, and human rights abuses. With its tech-driven model, Joblio connects vetted workers with employers directly, eliminating unethical middlemen and ensuring cost-free hiring for migrant workers. Employers fund access to talent, but workers never pay—a key step in ending exploitation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250512628048/en/ A Mission Rooted in Personal Experience Joblio is led by Jon Purizhansky, a refugee-turned-entrepreneur who experienced migration challenges firsthand. Forced to flee his home country as a young man, Jon faced the uncertainty and vulnerability that millions of migrant workers still encounter today. Now a globally recognized expert in global labor migration law and international workforce mobility, Jon ha
DEWA Announces Record Quarterly Revenue of AED 5.96 Billion and Quarterly Cash from Operations of AED 3.85 Billion12.5.2025 18:06:00 EEST | Press release
Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, listed on the Dubai Financial Market (DFM), reported its first quarter 2025 consolidated financial results, recording quarterly revenue of AED 5.96 billion, EBITDA of AED 2.43 billion, operating profit of AED 838 million and net profit of AED 496 million. The company also generated a record net cash from operations of AED 3.85 billion resulting in closing cash and cash equivalents of AED 8.17 billion, which is AED 2.07 billion higher than the balance as at year-end 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250512715455/en/ Dubai Electricity and Water Authority announces record quarterly revenue of AED 5.96 billion and quarterly Cash from Operations of AED 3.85 billion (English Graphic: AETOSWire) “We are progressing in our journey to Net Zero by 2050 and will con
Alisher Usmanov Wins Legal Case Against Luxembourg’s Largest Media Group, Says Law Firm Rechtsanwälte Steinhöfel12.5.2025 15:43:00 EEST | Press release
A German court has banned Mediahuis Luxembourg S.A., the most important media holding in Luxembourg, from referring to Alisher Usmanov as the owner of the yacht Dilbar. Mediahuis Luxembourg is the leading publishing company in Luxembourg, with such assets as newspapers and online platforms, including Luxemburger Wort, Luxembourg Times and others. On May 5, 2025, the Regional Court of Hamburg ruled that the following statement published by Luxembourg Times was false and prohibited its further publication: “The luxury yacht Dilbar was seized in Hamburg’s harbour in 2022 following Russia’s invasion under EU sanctions. The yacht is owned through a company and trust by Uzbek-Russian billionaire Alisher Usmanov.” The court found the statement to be in violation of Mr. Usmanov’s rights and prohibited its distribution. In the event of non-compliance with the prohibition, Mediahuis may be fined up to €250,000 for each individual offense. Moreover, if such a fine is not enforceable, it may be re
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom