In the 1980’s oil and gas companies began to adopt digital technologies focusing on better understanding a reservoir’s resource and production potential, improving health and safety and boosting marginal operational efficiencies at oil fields around the world.
However, since then and for most of this decade the industry has not taken advantage of the opportunities that derive from combining data and technology in a meaningful way. This is an industry that does not lack data; on the contrary, it has at its disposal a huge amount of data that up until know remains dispersed and not used to its potential. Most of the data is separate from enterprise information systems and thus people and processes are disconnected. Similarly, Operational Technology (OT) is often managed separately from IT. The most critical issue the industry faces is a lack of integration across systems, people and processes.
Oil and gas companies need to reinvent themselves by grabbing a hold of today’s technologies. They must boost operational efficiency. They need to be the next disruptors.
Julia King, Connected Futures
By fully harnessing the networked connection people, process data and things, oil and gas firms can generate an 11% annual profit improvement. The falling cost of sensors and the emergence of the Industrial Internet of Things (IIoT) will vastly increase the volumes of data these companies can access. Combining Cloud Computing, Big Data and Analytics and Mobile Technology in innovative ways could magnify their capabilities far more than if employed separately; technology makes it possible for companies to collect and study data from across their systems. This allows them to gain valuable insights and take steps to improve operations.
Some companies are already employing digital collaboration tools to unify their workforces. For instance, the Essar Group generates data that tops 3TB. To access this quickly for real-time decision making they implemented a unified computing platform. This allowed them to augment an in-place SAP HANA system with in-memory computing technology. Moreover, access to consistent real-time information was critical for improving its forecasting abilities. It also provides them intelligence on how to redirect the business as needed based on events, customer relationships, product plans and market variations. Finally, bridging the IT/OT gap has improved business performance while reducing TCO.
Similarly, a Canadian oil sands company is tracking the movement of its fleet of trucks by combining sensors, GPS and real-time analytics. Presently, real-time data and the trucks location can be viewed on virtually any device. This move to digital is increasing production efficiency and reducing downtime. There is a need to automate many routine analysis and decision support processes.
ABB, a pioneering technology leader has created ABB Ability, an integrated industrial platform and cloud infrastructure that enables companies to securely integrate and aggregate their data, combine it with wider industry data and predictive analytics and generate insights that can help them drive performance and productivity improvements.
Once again it is evident that integration and management of big data that can be achieved through digital transformation is crucial. At Publisto we have realized this potential and are ready to offer you the digital solutions that will enable you to make this transition.