More needs to be done to increase the use of digitalisation within the offshore oil and gas industry as a way of achieving sustained lower operating costs, a new report has found.
A joint study by industrial software provider AVEVA, and Westwood Global Energy Group (Westwood), a research-led consultancy firm, surveyed a variety of decision makers both within the exploration and production (E&P) and oilfield services companies to better understand their views on digitalisation.
It was found that while the benefits of digitalisation, using tools such as intelligent data management and laser scanning to create a ‘digital twin’, are generally recognised the industry’s risk averse culture coupled with reduced budgets amidst the oil price downturn and common misconceptions is preventing its full potential from being realised.
Michail Tzouvelekis, marketing solutions director at AVEVA, said: “Our report provides valuable insight into the perceptions of digitalisation in offshore operations – particularly maintenance and modification. New data provided by Westwood also improves our understanding of the short to mid-term outlook for the industry.”
“It’s clear from the study that both the oil and gas industry and providers of the digitalisation tools need to step up their efforts, if the industry is to realise the full long-term benefits of these technologies,” he was quoted as saying in the press release published on AVEVA’s official website.
As the offshore oil and gas industry adjusts to a lower-for-longer oil price mindset, production optimisation (to maintain cash flows) and sustainable cost rationalisation via supply chain pricing compression, enhanced operational efficiencies and standardisation have become increasingly important.
To analyse the potential prospects of digitalisation for the oil and gas industry and to impress upon the sector the need to digitise the process of asset management, AVEVA in association with Oil & Gas Middle East magazine, organised a roundtable discussion with senior energy sector professionals, on September 27th at the J W Marriott Marquis hotel in Dubai.
The attendees were:
- Rick Standish, VP owner operator strategy, AVEVA (panel chairman)
- Robert Willock, editorial director – Construction, Design, Energy and Hospitality groups, ITP Media Group
- Angie Slavens, managing director, UniverSUL Consulting
- Aygul Kuptsova (AK), information management coordinator, China Petroleum Engineering & Construction Corp (CPECC)
- Derek Middlemas (DM), chief executive officer, Digatex
- Min Zhong (MZ), project information manager, China Petroleum Engineering & Construction Corp (CPECC)
The full coverage of the event has been published in the November issue of Oil & Gas Middle East. Here we present to you moments from the roundtable event, where participants deliberated on the subject ‘digitising assets: real world problems, virtual solutions’:
