WHAT IT TAKES FOR OIL & GAS LEADERS TO REALISE DIGITAL DREAMS?

Photo by Nik MacMillan on Unsplash

Be it the drone monitoring the Upstream deep sea assets, the onshore platforms or the Downstream Refining and Petrochemicals assets, all it needs is the data to pass through a series of challenges before we realise the digital dreams.

The challenges can be broadly classified from the sensor that collects the data to passing it through the cloud or local storage system to store the data. Once this is made available, goes through a series of steps into cleaning the data to make it meaningful, followed by merging these data from multiple sources. In some cases you may chose to keep it in multiple data bases but make it available for further data exploration and analysis. Upto this stage is more or less the job of an Internet of Things specialist and Data Architects and Engineers to do the necessary infrastructure building and associated plumbing in making the data available for Data Scientist

Enter the Data Scientist with skills on finding the meaning out of these data and put it to good use in predicting the future which has applications in a myriad number of areas such as locating the Oil & Gas resources, improving the production of oil in upstream, enhance the safety and reliability of assets, improve the yield in downstream refining and petrochemicals to tracking assets in trading, supply, distribution & retail to optimise the resources in improving the business bottom line.

The most important above all for Oil & Gas leaders to realise their digital dreams, should visualise the business in totality, benchmark his asset performance with that of competitor, identify pain points and convert them into opportunity where meaningful digital applications could help in realising the dreams. Leaders should develop a digital road map in delivering the value with the right resources in place and continued support through the journey so that the team does not fear to fail before realising Big goals!

Good luck to leaders in realising their digital dreams!