The oil and gas sector has embraced innovation since its beginnings in the 19th century, and its response to the digital revolution now unfolding continues this tradition. Powerful new technologies, such as artificial intelligence (AI) and cloud applications, have upgraded or overtaken old ones, opening fresh possibilities, efficiencies and opportunities barely imaginable a few decades ago. While some voices
call for an end to the era of fossil fuels, the reality is that the entire hydrocarbon industry, like many others, is adapting and innovating at a rapid rate. For the next 20 years, at least, oil and gas will remain key sources of energy, thanks in part to the sector’s investments in technology.
In the face of lower prices, severe cost pressures and the need to adhere to the highest environmental standards, the oil and gas industry will continue to deploy new technologies that will ensure it has a strong future. To find out more about the sector’s current and future investments, Aspen Technology, Asset Performance Networks (AP-Networks), and Minsait, an Indra company, commissioned Newsweek Vantage to conduct a global survey of 263 energy professionals at senior executive and management level, who are working at enterprises that have strategic interests in the oil and gas industry. The main findings of the study can be found in the full report.
Why not find out more about digitalisation in the oil and gas space at the World Energy Capital Assembly?
Digitalisation – is the Oil & Gas Sector keeping up?
Digitalisation has been a hot topic for many years but seems to have lower penetration in the oil and gas industry versus other industries. What does digitalisation actually mean and how do investors view it’s rise? Is it seen to increase shareholder value and where does this value lie?
- Insight in to how digitalisation improves productivity
- Use of Artificial Intelligence (AI), big data and blockchain in exploration and production
- Role of digitalisation in collaboration and cost cutting
- Impact of digitisation on operating models
Colette Cohen, Chief Executive Officer, The Oil & Gas Technology Centre
Matthew Chinn, Managing Director UK & NW Europe, Siemens
Tomas Hvamb, Investment Director, EV Private Equity
Torbjørn Folgerø, Chief Digital Officer, Equinor
TBC, Dassault Systemes