Inaugural Energy in Data event set to drive O&G digital transformation

2019 ◽  
Vol 38 (4) ◽  
pp. 306-306
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Energy Industry ◽  
Gas Industry ◽  
Professional Societies

This June, three professional societies representing three major disciplines within the oil and gas industry will come together in the Silicon Hills of Texas to adapt, adopt, and advance digital transformation in the energy industry.

scholarly journals Human Centric Digital Transformation and Operator 4.0 for the Oil and Gas Industry

IEEE Access ◽  
2021 ◽  
pp. 1-1
Author(s):  
Thumeera R. Wanasinghe ◽  
Trung Trinh ◽  
Trung Nguyen ◽  
Raymond G. Gosine ◽  
Lesley Anne James ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Gas Industry

scholarly journals INFLUENCE OF DIGITAL TECHNOLOGIES ON CAPITALIZATION OF OIL AND GAS BUSINESS

2020 ◽  
Vol 4 (34) ◽  
pp. 66-71
Author(s):  
O.E. Malykh ◽  
◽  
Yu.V. Khodkovskaya ◽  
Keyword(s):  
Financial Management ◽  
Oil And Gas ◽  
Action Plan ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Integrated Approach ◽  
Digital Transformation ◽  
Gas Industry ◽  
Additional Advantage ◽  
The Impact

The problems of global economic growth are largely due to factors in the dynamics of the oil and gas sector. New requirements for the quality, quantity and timing of the supply of hydrocarbons create opportunities for the development and increase of the efficiency of the oil and gas business, including the growth of its capitalization. For the oil and gas industry, the digital transformation goes beyond the tactical use of technology, the business model is being transformed by accelerating the spread of innovation and the constant growth of practical efficiency, which significantly changes strategic guidelines. The article presents an analysis of the impact of digital technology on the financial aspects of the oil and gas business. The objective obstacles to its digitalization are described, which can form the basis for developing recommendations for promoting digital technologies in this segment of the economy. The advancement of scientific and technological progress and the automation of many stages of production processes are factors in the possible growth in the capitalization of the oil and gas business. Studies have shown that existing technologies are not always able to facilitate this process. Underfunding of the information and computing infrastructure of companies can become a serious problem on the way to strengthening the financial component of the oil and gas business. In the Russian oil and gas industry, the use of additional digital platforms and innovations is an additional advantage for increasing operating profit. The article discusses the cybersecurity of the oil and gas business based on an integrated approach and the implementation of all aspects of the oil and gas company: information, organizational and technological. A group of cyber defense tools is proposed. A new model of the digital transformation of oil and gas companies is proposed to formulate an action plan for the use of digital technologies, to solve tactical problems and strategic goals of the oil and gas business, to ensure its capitalization growth. It is shown that business capitalization under the influence of digital technologies allows the oil and gas industry to implement the latest achievements in the field of cloud computing, digitalization of oil fields, service-oriented architectures and industrialization, significantly expanding the possibilities of corporate financial management.

scholarly journals Risk Allocation Provisions in Energy Industry Agreements: Are We Getting it Right?

2011 ◽  
Vol 49 (2) ◽  
pp. 339
Author(s):  
Nick Kangles ◽  
R Ben Rogers ◽  
Zahra Allidina ◽  
Chris Harris
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Energy Industry ◽  
Risk Allocation ◽  
Gas Industry ◽  
Legal Principles

After reviewing a number of Canadian legal principles relating to indemnities, this article reviews risk allocation provisions used in certain segments of the oil and gas industry in Canada with a view to exploring the rationale behind the use of different risk allocation regimes and combinations thereof, and constraints to the enforceability of such provisions. The authors then discuss select issues that should be taken into account when reviewing, negotiating, and drafting these types of provisions.

Implementing Cognitive Procurement and its Influence on Supply Chain During the Era of Digital Transformation in Oil and Gas Industry 4.0

2021 ◽  
Author(s):  
Manoj Kannankutty ◽  
Aditya Manoj Menon
Keyword(s):  
Supply Chain ◽  
Industry 4.0 ◽  
Online Survey ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Loop Model ◽  
Human Machine Interaction ◽  
Gas Industry ◽  
The Impact

Abstract The digital transformation is key for every oil and gas organization to implement its fourth industrial revolution (Industry 4.0). Digital transformation in procurement uses artificial intelligence, big data, market intelligence, etc. to create self-learning systems; for the procurement of goods and services. This is also known as cognitive procurement or procurement 4.0. The objective of this paper is to examine the methods of implementing cognitive procurement, the impact it creates in the procurement life cycle, and in the supply chain. The paper also provides insight into three governance models of human-machine interaction that is implemented in stages based on procurement requirement and technology adoption maturity of the organization.Human-in-the-loop modelHuman on-the-loop modelHuman out-of-loop model The data for this study is obtained by preparing a list of relevant questions from multiple sources. An online survey questionnaire is sent to the procurement professionals in different organizations in the oil and gas industry. The questions reveal procurement expert's responses for:Potential challenges for the digital transformation in procurement and supply chain.Methods of enabling technologies to leverage procurement procedures and processes. The results and the observations of the study are used to measure the benefits of implementing cognitive procurement in the oil and gas industry 4.0. The new transformed roles of procurement for industry 4.0 are also discussed in the conclusion, which includes:Daily activitiesProcurement decision-making activitiesStrategic SourcingProcurement to drive organizational profitability, effectiveness and efficiency The paper will benefit oil and gas organizations that are planning to implement cognitive procurement as part of the digital transformation. The paper will also benefit any parties interested in understanding more about cognitive procurement.

Digital Transformation in Oil and Gas Industry: Developing an OSDU Third-Party Application

2021 ◽  
Author(s):  
Imran Harith Bin Azmy ◽  
Azri Bin Azmi ◽  
Mohd Suffian Sulaiman ◽  
Othman Bin Mohd Yusop
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Third Party ◽  
Gas Industry

scholarly journals Significance of Technology and Digital Transformation in Shaping the Future of Oil and Gas Industry

2021 ◽  
Vol 12 (3) ◽  
pp. 3345-3352
Author(s):  
Shubham Parsoya Et.al
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Internet Of Things ◽  
Data Analytics ◽  
Oil And Gas ◽  
Big Data Analytics ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Gas Industry ◽  
The Future

Digital transformation in the field of oil and Gas industry is already a significant impact creator. It is actually act like catalyst through which the overall functionality of the oil and gas industry get enhanced and the overall output with the help of technologically-advanced mechanism, increased up to manifold. In the present scenario, the over-all quest is not just about the volume of the oil and petroleum, but it is also regarding the overall value generated throughout the process. And such enhanced level of value generation is taking place with great pace with the help of enhanced level of implementations of different types of technologies in different type of activities related to the oil and gas industry. In the present scenario, oil and gas industry’s business model is no longer depending upon just the inflated and narrow based value-chain mechanism. It is actually depending upon the almost all modernized and futuristic technologies. The modern technologies include big data analytics, 3D printing technology, cyber security, digital marketing, Artificial Intelligence, Internet of Things, drone technologies, database management system, etc. all these technologies are not only supports in handling the overall business capability of the oil and Gas Industries, but also eliminate the overall negative impact generating elements. With the help of technologies and digital transformation, the overall profitability of the oil and gas industry enhanced. Digital transformation is a prominent and significant impact creator which is not limited to the oil and gas industry, but also reaching up to the all-global level Businesses. It is transforming the overall business operations by enhancing the speed of innovation and making the use of practical knowledge base which ultimately enhance the overall power of operations and increase efficiencies. With the emergence of digital transformation technologies especially with the emergence of big data analytics, the Internet of Things and Artificial Intelligence have supports several types of innovative and new ways of developing and transforming the overall market as well as the customer satisfaction in significant manner. All such innovative technologies and digital transformations are contributing significantly in shaping the future of oil and gas industry

Energy Industry Offers Limitless Opportunities for Technical Professionals

2007 ◽  
Vol 01 (01) ◽  
pp. 4-5
Author(s):  
Stuart R. McGill
Keyword(s):  
Oil And Gas ◽  
Driving Forces ◽  
Oil And Gas Industry ◽  
Active Role ◽  
Energy Industry ◽  
Gas Industry ◽  
The People ◽  
Energy Needs ◽  
Open Work ◽  
Technical Professionals

Executive Perspective - Talent and technology will be the driving forces of innovation and ingenuity that propel the oil and gas industry forward. The industry must take an active role in ensuring that organizations have access to the people and tools that can satisfy the world's energy needs. That means supporting education in the technical sciences and creating productive, open work cultures.

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