Thursday, June 30 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Jun 27
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
By Topic
By News Partner
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    Leading oil and gas firms are tapping into digital technologies


    May 18, 2022 - TradeArabia

     

      Adoption of digital technology Digital technologies are improving the oil and gas industry by streamlining processes and creating new frontiers for operations, says GlobalData, a leading data and analytics company.

      These technologies are well suited to tap new hydrocarbon deposits, boost operational efficiency, and reduce methane emissions.

      Digital technologies can deliver actionable insights for an oil and gas asset and help companies to reduce their capital and operating expenditures, says the report.

      Improving profitability

      Digitalisation, which involves the adoption of digital technologies such as artificial intelligence (AI), big data, cloud computing, cybersecurity, the Internet of Things (IoT), and robotics in day-to-day oil and gas operations, is enabling the industry to improve productivity and profitability by streamlining operations and cutting costs.

      Leading oil and gas players are increasingly collaborating with technology vendors in a bid to develop custom digital solutions that address their needs. For instance, TotalEnergies has collaborated with IBM to develop predictive drilling analytics to aid precision drilling.

      Similarly, Equinor has developed and deployed its digital twin, Echo, in its North Sea operations by leveraging its exploration and production (E&P) expertise in the region. Concepts such as digital twins and predictive maintenance are increasingly being modified to suit the different use cases of the oil and gas value chain, according to GlobalData's report, 'Digitalisation in Oil and Gas - Thematic Research'.

      Synchronised ecosystem

      Ravindra Puranik, Oil and Gas Analyst at GlobalData, comments: "The adoption of digital technologies in the oil and gas industry has been previously hindered by the shortage of skilled technicians, concerns over data security, and cost-benefit uncertainty for adapting aging assets. However, since the technologies have the ability to transform the industry and create a synchronised ecosystem to meet future energy demands, an increasing number of oil and gas companies are upgrading their assets with digital technologies for long-term gains.

      "Minimising equipment downtime while enhancing operational performance remain key focus areas for increasing company revenues. There is also a growing emphasis among producers on digitalising workflows to enhance operational visibility for improved decision making."-- TradeArabia News Service

    TOP

    Other Articles - Generation


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.