Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
One hundred billion dollars—that’s the amount that the oil and gas industry could save through digitalization, according to a recent Rystad Energy report. To unlock these potential savings, E&P and service companies are transforming to meet energy demands. According to the report, about 10% of the $1 trillion spend on opex in 2018 could be erased through the use of more efficient and productive operations possible with automation and digitalization.
“In addition to cost savings, digitalization initiatives can also increase productivity by increasing uptime, optimizing reservoir depletion strategies, improving the health, safety and environment of workers and minimizing greenhouse emissions—all of which have significant value creation,” said Audun Martinsen, head of oilfield services research for Rystad, in the report.
The digital transformation is in progress, as new digital products are rapidly making their way into the marketplace. For example, one of the largest digitalization initiatives to date, according to Rystad, is the collaboration by Chevron, Schlumberger and Microsoft to obtain meaningful insights from multiple data sources across the upstream and midstream sectors (see details in the "Tech Trends" section).
This month E&P’s cover stories examine how operators, technology innovators and government researchers are furthering the progress of the digital transformation.
Read each cover story:
The strategic path to digital transformation
Recommended Reading
E&P Highlights: Jan. 22, 2024
2024-01-22 - Here’s a roundup of the latest E&P headlines, including FIDs for the Victory and Winterfell fields and new technology updates.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
E&P Highlights: Jan. 12, 2024
2024-01-15 - Here’s a roundup of the latest E&P headlines, including an SLB-Nabors collaboration and new contract awards.
E&P Highlights: March 15, 2024
2024-03-15 - Here’s a roundup of the latest E&P headlines, including a new discovery and offshore contract awards.
Orange Basin Serves Up More Light Oil
2024-03-15 - Galp’s Mopane-2X exploration well offshore Namibia found a significant column of hydrocarbons, and the operator is assessing commerciality of the discovery.