Panel Session 4: Digital Transformation: Powering the Energy Industry through Necessary Disruption
The state of the energy industry today reflects a combination of forces within and around the industry itself that have come together to put immense pressure on oil and gas operations everywhere.
Navigating the pandemic and the resulting economic realities is job one and something that is well underway. However, transformation imperatives across the energy industry which was recently a nice to have has suddenly become a business imperative. You might even say, the pandemic, has accelerated digital transformation. Workforce reductions and social distancing guidelines have resulted in facilities with fewer resources requiring technology to enable remote working and remote operations. Perhaps now, more than ever there is a need for a more connected workforce, more connected plants, more connected facilities.
In addition to these short-term dynamics; The role of the industry in carbon emissions has come to prominence during the pandemic. Both investor and societal attention to how the energy industry acts has and will increase. Technology will play a critical role in enabling shifting portfolios and reduction of CO2 emissions.
Immediately and already underway are projects that will reduce Opex. This is the number one objective of daily operations in a cost-conscious environment like today. However, the need to better enable remote operations is on the horizon. Simplification of the supply chain and inventory management will also enable leaner, more specialised and remote enabled workforces. Oil and gas businesses of the future will rely on the kind of intelligence delivered through AI for these operational measures.
This session will cover the role AI and Automation have in enabling a competitive O&G upstream operation and provide practical examples of the recipe for a successful digital transformation.