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
Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 202623.1.2026 17:29:00 EET | Press release
Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth in Jeddah on 22-23 April 2026, it was announced on the closing day of the 56th Annual Meeting of the Forum in Davos, Switzerland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260123725881/en/ HE Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning, announces that the Kingdom will host the World Economic Forum Global Collaboration and Growth Meeting in Jeddah in April 2026 (Photo: AETOSWire) His Excellency Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning today confirmed the details for the regular high-level WEF meeting, which was announced at the 2025 WEF Annual Meeting. Calling for pragmatism and collaboration against a backdrop of geopolitical fragmentation, HE Alibrahim said “stability can’t be quickly built, and it can’t be bought”. “Stability need
Philip Morris International Urges FDA Advisory Committee to Recommend Authorizing ZYN as a Modified Risk Tobacco Product23.1.2026 16:15:00 EET | Press release
Experts from Philip Morris International (PMI) (NYSE: PM) yesterday presented scientific evidence to the U.S. Food and Drug Administration’s (FDA) Tobacco Products Scientific Advisory Committee (TPSAC) as part of the FDA’s process for a Modified Risk Tobacco Product (MRTP) designation for their ZYN nicotine pouch products. This designation would allow PMI’s U.S. family of businesses to communicate to U.S. legal-aged, 21+ adult cigarette smokers that switching completely to ZYN reduces their risk of many smoking-related diseases and we look forward to a decision by FDA. "The FDA’s Center for Tobacco Product’s (CTP) mission is to make smoking-related disease and death a part of America’s past,” said Keagan Lenihan, Chief External Affairs Officer for PMI U.S. “Smoke-free products, like ZYN, play a critical role in helping CTP achieve this mission and provide adults who smoke with important information to guide their choices and a real opportunity to change. The full-day meeting on January
Business4Land Champions’ Council Launched at Davos to Spur Private Sector Action on Land and Drought23.1.2026 15:58:00 EET | Press release
TheUnited Nations Convention to Combat Desertification(UNCCD) Secretariat and the UNCCD COP16 Presidency, led by the Kingdom of Saudi Arabia, today announced the official launch of the Business4Land (B4L) Champions’ Council at a high-level event hosted at InTent during the World Economic Forum (WEF) Annual Meeting in Davos. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260123993933/en/ The United Nations Convention to Combat Desertification (UNCCD) Secretariat and the UNCCD COP16 Presidency launched the Business4Land (B4L) Champions’ Council at the World Economic Forum in Davos (Photo: AETOSWire) The B4L Champions’ Council brings together global CEOs and senior executives from across the agriculture, consulting, environmental services, fashion, food, pulp/paper. renewable energy, and technology sectors. It aims to drive private sector leadership in restoring 1.5 billion hectares of degraded land by 2030—aligning business am
WEF26: Saudi Arabia Becoming ‘A Connector Economy’ as World Trade Evolves23.1.2026 15:47:00 EET | Press release
His Excellency Majid A. Alkassabi, Saudi Arabia’s Minister of Commerce, today at the World Economic Forum Annual Meeting in Davos said the Kingdom stands to benefit from ongoing shifts in global supply chains. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260123425621/en/ Amid shifting global trade dynamics, Saudi Arabia underscores its role as a stable connector economy linking markets across regions (Photo: AETOSWire) Speaking in a session titled ‘Many Shapes of Trade’, HE commented: “Trade today is definitely shifting from fair trade to a managed and rule-driven trade model. For us in Saudi Arabia, we have a strategic location, we have a lot of resources, we could become a bridge economy. We could become a connector economy where we can connect with Africa, with Europe, with Asia, becoming a logistic hub.” His Excellency Ahmed A. Alkhateeb, Minister of Tourism, in a session called ‘The New Geography of Travel: Elevating
DCX Liquid Cooling Systems Announces New 8MW Coolant Distribution Unit, Optimized for 45°C Warm-Water Cooling in Next-Gen NVIDIA Vera Rubin AI Deployments23.1.2026 15:18:00 EET | Press release
DCX Liquid Cooling Systems is proud to announce the second generation Facility Distribution Unit (FDU V2AT2). Designed to support the infrastructure shift driven by AI deployments at scale, new CDU supports 45°C warm-water cooling for NVIDIA’s NVL72 GB200 / GB300 Blackwell and Vera Rubin architectures. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260123068139/en/ The Facility Coolant Distribution Unit—the new generation of liquid cooling for hyperscale data centers. FDU V2AT2 delivers up to 8.15MW of heat transfer capacity while providing record breaking flowrate, enabling 45°C warm-water operation—temperature level that can eliminate the need for chillers on the heat-rejection side in many deployments. This new cooling system has also built in most capable heat exchanger in the industry, which further enables heat reuse and chillerless heat transfer. “As the datacenter industry transitions to AI factories, operators need
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