Wednesday, 30 May 2018

New Digital Tech: Across the Oil and Gas Industry Value Chain

#Oil Gas 2018 @Singapore on September 12-13, 2018
Oil and gas industry companies are also applying innovative digital ICT in their upstream operations. On June 6, The Netherlands’ Orbital Eye launched a service that employs satellites to improve monitoring of oil and gas pipelines. An unnamed ¨major African pipeline operator¨ was the first to sign up for the service, which holds great promise in Europe and worldwide.
Gas pipelines extend across some 140,000 kilometers across the EU. Another 40,000 kilometers of pipelines carry oil and related petroleum liquids, while local distribution networks deliver these fuels to homes and workplaces.
Aerial inspection surveys reveal just 17 percent of oil and gas leaks across the EU, Orbital Eye points out. Thirty-seven percent are detected by the public. The company’s satellite-based pipeline monitoring service improves on those figures substantially, according to management.
Tapping into publicly available, high-quality satellite and radar images and data from the EU Copernicus program’s constellation of Sentinel satellites, Orbital Eye’s digital ICT platform provides more accurate, timely and broad- or narrow-field monitoring that detects actual and potential threats, including leaks and the slightest ground movement, the company highlights.
Carrying on a Pioneering Tradition
The two aforementioned examples barely begin to scratch the surface when it comes to digital ICT innovation in the global oil and gas industry. “Oil and gas companies were pioneers of the first digital age in the 1980s and 1990s. Long before phrases such as big data, advanced analytics, and the Internet of Things became popular, oil executives were making use of 3-D seismic, linear program modeling of refineries, and advanced process control for operations”. “The use of such technologies unleashed new hydrocarbon resources and delivered operational efficiencies across the value chain,” according to McKinsey & Co. global oil and gas industry practice members.
They stand to gain as much or more in today’s energy environment should they prove able to apply the latest digital ICT profitably. According to the McKinsey consultants global oil and gas industry capital expenditures could be reduced as much as 20 percent, upstream operating costs 3-5 percent and downstream costs 50 percent by successfully applying the latest digital ICT.
That includes making better use of existing technology. Oil and gas industry players could realize production increases or cost savings of as much as $1 billion if they can invest in and capitalize on a new generation of digital ICT. “Executives that make their organizations more digital will be well positioned to pursue new growth opportunities,” they conclude.
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