Adoption of a holistic digital strategy is imperative for the global oil and gas industry to be able to deliver the cost-savings needed to remain competitive in a lower-for-longer oil price climate.
The last decade has given the world countless new solutions and technology innovations. Advances in social media, apps, science and technology have changed the way people communicate, engage with businesses, work and relate to others.
The same trends that helped these technology giants are making their way into the upstream environment. But according to many industry executives, the oil and gas industry is lagging other industries and must move quickly, yet differently.
The costs savings are so substantial that McKinsey & Company estimates that improving production efficiency by 10 percentage points can yield up to $220 million to $260 million bottom-line impact on a single brownfield asset. For declining assets, automation could extend field life in an economically viable way. The potential could be even more significant for greenfield assets, where required instrumentation can be included from the start as part of the design.
On the 1st August Upstream Intelligence sat down with those at the forefront of digital innovation during our webinar, ‘The Roadmap to your Oil Field of the Future’ as they shared their insights on implementing a successful digital transformation. Sharing their insights were:
- Trond Ellefsen, Special Adviser Digital Transformation and Strategy at Statoil
- Terry Price, Industry & Technology Thought Leader, IBM Global Centre of Competence
- David Holmes, CTO Energy, DellEMC
Upstream Intelligence have put these insights together in one easy-to-read report, this report covers:
- How upstream companies have implemented Internet of Things (IoT), cloud based and data centric strategies to digitise the oil and gas business.
- A guide to implementing a digital transformation including common obstacles and solutions to overcome them.
- Key questions companies must ask before developing and building a digital strategy and examples of how to engage the whole company.
You can download the full report for free from here. https://goo.gl/XyQiLF
Trond Ellefsen and David Holmes will be re-joining at the Data Driven Production North Sea Conference (31st October-1st November in Aberdeen) with expert speakers from Statoil, ENI, OSIsoft, TechnipFMC, Halliburton and many more on how data and analytics will boost efficiency, eliminate downtime and achieve production in the North Sea.
Find out more details on the Data Driven Production Conference, including the full agenda and speaker line-up here. http://www.upstreamintel.com/data-north-sea/