A recent survey has predicted that energy companies across the globe will increase their investments in information technology in 2014, in order to increase efficiency and promote competition.

The survey conducted by Kable market intelligence shows that 45 percent of energy companies increased their ICT budget in 2013, up eight percent from 2012, which may reflect increasing optimism in the industry.

There was also a six percent decline in the proportional number of respondents reducing their ICT budget in 2013 compared to 2012 and an additional reduction of two percent of companies that were maintaining their current budget, showing a significant proportional increase in ICT investment.

Eric Doyle, Regional Director – Europe at Aquaterra Energy said: “Companies involved with innovative engineering solutions understand that the use of cutting edge ICT is absolutely essential to continue to be dynamic and relevant in an ever-evolving market.

“Aquaterra Energy has a proven track record for analysis and design, and software investment is therefore one of our key priorities; not only do we ensure our team has access to the very latest technology, but we invest resources in developing our own software to enhance our analysis capabilities and give our clients the very best data available. From this, our teams can make highly informed, critical decisions about offshore projects, safe in the knowledge that they have the best information possible.”

Further analysis of the data reveals that ICT investment is slightly higher in the US, Canada, UK, and the Middle East, with companies opting to improve their ICT operations through optimisation of software and hardware, whilst complying with energy policy and regulation.