The upstream oil and gas industry faces its most significant challenge to date as global energy companies look to new sources, science and solutions to diversify and decarbonize the energy landscape, creating a more balanced energy economy.
Once known primarily as an oil and gas services company, Wood has diversified in recent years to meet the evolving demands of the energy markets, with a portfolio now much broader than just oil and gas. Renewable energy, environmental and infrastructure, and downstream and specialty chemicals sectors are presenting opportunities to deliver sustainable solutions and secure energy supply as the industry seeks balance in the energy transition.
At Wood, we view the energy transition as a process; as an industry, we won't get there overnight. This means oil and gas will continue to play a very important role in the world's energy mix for the foreseeable future.
We exist as a company to engineer solutions to some of the world's greatest challenges -employing 60,000 of the greatest minds to pioneer new ways of working, helping our customers grow in new markets and pushing the boundaries of what is possible.
We focus on projects, operations and consulting, and are proud of our ability to plan, engineer, build, operate and repurpose any asset in the energy and built environment. Whether that's an onshore wind farm, an offshore oil and gas asset, a power and process facility, key infrastructure for sustainable cities, a chemical plant, refinery or utility-scale solar farm, Wood is committed to meeting the megatrends shaping the wider world and the world of our customers.
One such trend is digitalization. The impact of disruptive digital technology is accelerating and changing the world as we know it. At Wood, we want to empower our customers to meet the challenges of the digital future and embrace the surge of change. We want to collaborate, co-create and innovate to solve our customers' biggest problems and enhance performance across the asset lifecycle. We're already doing this by creating integrated digital ecosystems to simulate and optimize output, deploying drones to monitor operations, using predictive analytics to enhance safety and prevent disasters before they happen, and working with technology partners to enhance realtime connectivity for workers on-site.
We have also established an innovation hub called CoLab, combining the collective ingenuity of Wood's experts with industry-leading data, digital capabilities and respected technology partners to harness solutions that will bring new possibilities to our customers.
We're positioning ourselves to support the markets and industries of the future. Now that we've given our perspective, we want to know yours. What are the biggest challenges you face in your industry? Share your problems with us, and we'll work with you to answer the challenge.
For more information, visit www.woodplc.com.
