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Petroleum Data Governance and Its Impact on Corporate Performance
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Abstract
In a general landscape, data governance plays a crucial role in every organization including the energy industry, particularly for petroleum companies that operate in a complex and data-intensive environment. With the upstream, midstream and downstream activities in the petroleum industry, there was a growing need to manage and govern data, which is now perceived as new oil and conceptualized as an asset. While it is acknowledged that data is a valuable corporate asset, many companies fail to exploit it in order to better their performance. Organizations today need to be proactive in their operations and have to make informed business decisions in less time than ever before. This puts pressure on organizations to govern the use of data better. This report examines the significance of data governance within the petroleum sector and its direct impact on corporate performance. By analyzing data modeling, data integration, data quality, security, accessibility, and utilization, we uncover how effective data governance strategies can lead to improved decision-making, operational efficiency, and ultimately, enhanced corporate performance. The report also confirms that poor data governance has a negative impact on corporate performance suggesting that organizations within the petroleum industry need to enhance the quality of data governance in order to realize its full business value and improve business performance.
Awurum, N. P. (2025). Petroleum Data Governance and Its Impact on Corporate Performance —The Case of Petroleum Company. Open Access Library Journal, 12, e2360. doi: http://dx.doi.org/10.4236/oalib.1112360.
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