In recent years, the oil and gas industry has seen a number of initiatives to explore new digital technologies and to exploit their benefits. Digital transformation frequently involves transformations of key business processes, operations, as well as organizational structures and management concepts. There is a dire need of establishing management practices to govern these complex transformations by companies going on their digital transformation journey. An important approach is to formulate a digital transformation strategy that serves as a central concept to integrate the entire coordination, prioritization, and implementation of digital transformations within an organization.