Latin America pivots to digital

The pandemic has showcased the importance of reaching digital maturity, and state oil companies are taking notice

NOCs have some clear advantages when introducing sweeping change, particularly when it comes to digitalisation. Their sheer size and regional significance—not to mention heftier budgets—mean innovative new ideas and technologies can be tested and, if unsuccessful, fail fast. Over the past year, reliance on digital technologies has never been higher. Virtual working has fast-tracked some of these processes and resulted in many operators increasing digitalisation budgets. In Latin America, NOCs were eyeing technology change even before the pandemic emerged, but several have accelerated their commitments. Brazilian state oil company Petrobras quickly recognised the shifting sands, budgeting $1.