Digital technology and data could solve many of the oil and gas sector’s “broad challenges”, according to Petrofac’s head of strategy.
Addressing those attending the 2018 Gastech conference in Barcelona, Jon Carpenter said industry still had some way to go to “optimise production”.
Mr Carpenter said that greater harnessing of data on oil and gas assets and machinery could quickly improve “efficiency, safety and sustainability”.
He said: “Over the last few years our industry has done a great job of reducing inefficiency. But it continues to face broad challenges in maintaining and further improving efficiency, safety and sustainability.
“It’s no secret that digital technology and clever use of data can help with this. Companies across our sector are sitting on massive pools of proprietary data.
“If made visible and refined well, this data can support huge improvements in ways of working and deliver significant benefits for our clients. Asset Management is just one great example.”
Mr Carpenter added that Petrofac had been keen to develop its own tool, or “dashboard technology” as he calls it.
He claimed Petrofac has worked with Accenture to create a tool to provide “data driven insights” and “predictive analytics” on oil and gas assets.
He said: “In its simplest form, our dashboard technology ensures maintenance is carried out on the basis of data driven insight rather than to fixed and generic schedules.
“These forecasts help optimise production and identify potential failures, allowing them to be mitigated prior to impacting performance.”
“The tool records the mitigated actions taken and applies data science to recommend the most appropriate mitigation for next time. It supports speed to action whilst ensuring our operations and engineering personnel remain integral to the decision-making process.”