capturing LOW HANGING FRUITS: DIGITAL OIL & GAS

The Arts & Science of plucking Low hanging Digital fruits in Oil & Gas

Digital O&G business covers a wide ranging subjects right from the Internet of Things, Drones, Robotics, Augmented Realty (AR), Virtual Realty(VR), Cloud, Big data, Analytics, Artificial Intelligence, Blockchain and many more...

“Digital Oil & Gas is far wide and deep that should quickly able to deliver US $ 100 million within a year to the bottom line”

Accepting the challenge for the Oil & Gas involves identifying those opportunities that truly needs a digital solution, not adding bells and whistles for the sake of me too in the game. Digitizing efforts should result in tangible benefits that could be clearly identified right from the beginning and carried out to execution. Like every efforts, Digital business goals should follow Specific, Measurable, Actionable, Realistic and Time-bound (SMART) principles

Already there are plenty of things that could be achieved with Digital frontiers, but here we are looking at those things that could be achieved in short time frame with less efforts and more gains, while these efforts puts the business firmly into the digital track.

Now comes the question of how does one go about identifying those low hanging fruits? Where to look for? Its tricky is it not? is there a secret sauce? Of course yes!

Digital Oil & Gas is far wide and deep that should quickly able to deliver US $ 100 million within a year to the bottom line

Digital Sauce!

Ingredients : Where and how to look for?

The secret sauce involves identifying those pain points existing in the business. Well, thats a high level statement but when you dig a bit deeper and brain storm with the leaders in the organisation as well as with the work force at the ground level, you will then able to identify those that hampers the growth of the business, productivity, safety, business risk etc. Internal and external benchmarks could throw lights on areas of improvements. A cross functional team could really spice up the game. Together, these efforts should fairly create a list of to do things. Once done, you will able to list, rank them in the order of business priority, profitability and do-ability etc.

Applying the Digital lenses...

Now the next step is applying the digital lens on those long list to identify which of these could be solved realistically with the digital arsenal. But most of the time, things don't move further into the digital lanes in reaping the benefits. Why?

Stitching the Divide

The ideal case would be to immerse the digital experts into the business right from day zero so that they are completely aware of the problems, feel the pains and excitement before they start to code. Similarly, the O&G experts should be exposed to Digital possibilities (at the least) to developing Digital Capabilities(at the best) so that the expectations are realistic and deliverable. Though this exercise could take time and pull the people from their regular work but promises to deliver the solutions. Not a easy one but alternative is to find someone who has both the capabilities. One more thing is to ensure what we comeuppance with to

Prototype It!

One important concept comes from the IT world is to prototype a product that could be produced in future with feedbacks from the clients to iterate a number of times before the final version is produced

Next...

With this in mind, I will come up with Top 10 places, where Digital concepts could be applied in Upstream and Downstream class of business and iterate with your inputs