This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n
This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
\u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Big data can also impact field workforce enablement. When workers are out in the field, one of the challenges they face is a lack of real-time visibility of assets. This forces them to respond to each issue as it arises, making it hard to predict such issues based on historical data. As such, as more energy utilities embrace big data and move towards automating the collection and processing of data, there could be efficiency gains that impact not only the utility but downstream users as well.<\/p>\n\n\n\n Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Energy utilities currently generate copious amounts of data. However, only 2% of this data<\/a> is captured, and this without any automation. This means that 98% of all data utilities generate is lost or stored in a raw data format that is currently underutilized. This data represents a tremendous opportunity for utilities to build data-driven asset strategies that focus more on preventive responses to asset deployment and maintenance. This approach will reduce outages and provide real-time feedback on asset performance.<\/p>\n\n\n\n Big data can also impact field workforce enablement. When workers are out in the field, one of the challenges they face is a lack of real-time visibility of assets. This forces them to respond to each issue as it arises, making it hard to predict such issues based on historical data. As such, as more energy utilities embrace big data and move towards automating the collection and processing of data, there could be efficiency gains that impact not only the utility but downstream users as well.<\/p>\n\n\n\n Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Energy utilities currently generate copious amounts of data. However, only 2% of this data<\/a> is captured, and this without any automation. This means that 98% of all data utilities generate is lost or stored in a raw data format that is currently underutilized. This data represents a tremendous opportunity for utilities to build data-driven asset strategies that focus more on preventive responses to asset deployment and maintenance. This approach will reduce outages and provide real-time feedback on asset performance.<\/p>\n\n\n\n Big data can also impact field workforce enablement. When workers are out in the field, one of the challenges they face is a lack of real-time visibility of assets. This forces them to respond to each issue as it arises, making it hard to predict such issues based on historical data. As such, as more energy utilities embrace big data and move towards automating the collection and processing of data, there could be efficiency gains that impact not only the utility but downstream users as well.<\/p>\n\n\n\n Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
Another area IoT can help transform the energy sector is in load balancing. One challenge energy utilities face when supplying energy is knowing where to apportion energy and at what time. While most utilities have been investing heavily in smart meters and related technologies, the real gains lie in understanding how the entire grid operates in real time. This real-time grid monitoring encompasses the energy generation grid as well as the energy consumption grid, combining both to provide insights that can cut costs and boost efficiency.<\/p>\n\n\n\n Energy utilities currently generate copious amounts of data. However, only 2% of this data<\/a> is captured, and this without any automation. This means that 98% of all data utilities generate is lost or stored in a raw data format that is currently underutilized. This data represents a tremendous opportunity for utilities to build data-driven asset strategies that focus more on preventive responses to asset deployment and maintenance. This approach will reduce outages and provide real-time feedback on asset performance.<\/p>\n\n\n\n Big data can also impact field workforce enablement. When workers are out in the field, one of the challenges they face is a lack of real-time visibility of assets. This forces them to respond to each issue as it arises, making it hard to predict such issues based on historical data. As such, as more energy utilities embrace big data and move towards automating the collection and processing of data, there could be efficiency gains that impact not only the utility but downstream users as well.<\/p>\n\n\n\n Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
As a heavily mechanized industry, the energy industry stands to benefit immensely from the implementation of IoT infrastructure. One area that is currently capital intensive and can benefit from this technology is field service maintenance. For energy utilities, monitoring, maintaining and repairing assets is a huge resource sink that can benefit from disruption. IoT can do this. By deploying smart sensors that report on the state of various field assets, energy utilities can deploy \u201cjust in time\u201d maintenance interventions that minimize downtime. This is a challenge Samsara, an IoT startup in Silicon Valley<\/a> is working at solving through Internet-connected smart devices that can be deployed to multiple use-cases, including energy monitoring.<\/p>\n\n\n\n Another area IoT can help transform the energy sector is in load balancing. One challenge energy utilities face when supplying energy is knowing where to apportion energy and at what time. While most utilities have been investing heavily in smart meters and related technologies, the real gains lie in understanding how the entire grid operates in real time. This real-time grid monitoring encompasses the energy generation grid as well as the energy consumption grid, combining both to provide insights that can cut costs and boost efficiency.<\/p>\n\n\n\n Energy utilities currently generate copious amounts of data. However, only 2% of this data<\/a> is captured, and this without any automation. This means that 98% of all data utilities generate is lost or stored in a raw data format that is currently underutilized. This data represents a tremendous opportunity for utilities to build data-driven asset strategies that focus more on preventive responses to asset deployment and maintenance. This approach will reduce outages and provide real-time feedback on asset performance.<\/p>\n\n\n\n Big data can also impact field workforce enablement. When workers are out in the field, one of the challenges they face is a lack of real-time visibility of assets. This forces them to respond to each issue as it arises, making it hard to predict such issues based on historical data. As such, as more energy utilities embrace big data and move towards automating the collection and processing of data, there could be efficiency gains that impact not only the utility but downstream users as well.<\/p>\n\n\n\n Following closely on big data is predictive analytics. While analytics today has become commoditized and anyone can deploy it to their operations, the real opportunity lies in the type and quality of data being fed into these predictive analytics systems. In the energy sector, the large amounts of raw data being produced by energy generation assets, monitoring assets, customer billing assets and down to even the very assets within homes can provide deep insights into how the entire grid works and how it will work in the future.<\/p>\n\n\n\n Utilities can deploy predictive analytics not only to maintenance and load balancing but also to customer use cases as well. Consider the currently ongoing deployment of smart meters. With predictive analytics, each home can be charged differently based on both historical usage data and predictive models that anticipate usage. This scenario would offer utilities an opportunity to open new marketing models that allow consumers to understand better their billing structures and how to manage their consumption at a granular level.<\/p>\n\n\n\n Safety and asset integrity are at the heart of energy utility operations. For instance, in the event of plant failure, the response is usually first to ensure personnel safety and then next to salvage assets. In such a scenario, downtime, which affects end users, is relegated to a distant third. Enter robotics. With non-human personnel on site, it is possible to reorganize the priority list and focus on minimizing downtime despite the dangers involved in restoring power.<\/p>\n\n\n\n When it comes to robotics, energy utilities lag other industries like oil and gas and manufacturing. While it is understandable that these other industries are not utilities and do not require \u201con the job\u201d digital transformation, there remains a strong case for utilities to embrace robotics. Better equipped to communicate with IoT devices, process big data and run predictive analytics, robots can transform how utilities run, driving down costs and ramping up facility efficiency.<\/p>\n\n\n\n AI is the thread that links all these other technologies together. With the deployment of AI, a fully autonomous energy plant can be realized. With the previously mentioned technologies, there remains the need for a human element in running the systems. With AI, the human element is eliminated, and a truly smart and autonomous utility realized. With AI, an autonomous plant can manage internal IoT devices, listening to them and monitoring them for performance and efficiency.<\/p>\n\n\n\n The AI would then be able to generate big data from these IoT devices and other systems within the plant. Consequently, through machine learning and predictive analytics, the AI would be able to gain insights and visibility on all processes running within the plant, generating predictive performance models. Finally, by deploying robotic assets, the autonomous plant would then run predictive maintenance and efficiency-boosting optimizations to the plant\u2019s systems. All these activities would operate in a feedback loop that better optimizes the AI for future performance.<\/p>\n\n\n\n One unique challenge energy utilities face is that they cannot rebuild their infrastructure from scratch. The fact that it is impossible to take the grid \u201coffline\u201d for retrofit makes this impossible. However, digital transformation makes it possible to squeeze more juice from existing assets. For instance, PPL Electric managed a 38% service reliability improvement<\/a> enabled partially by the deployment of advanced analytical capabilities. Forward-thinking utilities will need to start experimenting with similar digital optimization strategies, even as they work towards deploying fully-fledged digital transformation strategies.<\/p>\n\n\n\n Amid the global pivot to a \u201cnew\u201d energy economy \u2013 solar, wind and electric \u2013 tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, \u201ctraditional\u201d energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles.<\/p>\n\n\n\n Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not.<\/p>\n\n\n\n In keeping up with their principle of putting \u201cknowledge, technical innovation and teamwork\u201d at the center of operations, executives from Schlumberger Ecuador, a subsidiary of Schlumberger Ltd., engaged in a three-day executive immersion program organized by Silicon Valley Innovation Center. Schlumberger participants sought to discover capabilities from US tech innovations for implementation in Ecuador as the country seeks to expand its hydrocarbon production.<\/p>\n\n\n\n \u201cThis is the experience that every business person who really wants to be part of the future should do,\u201d said Isabel Noboa, CEO of Grupo Nobis Ecuador.<\/p>\n\n\n\n Learning from Silicon Valley companies that focus on data, artificial intelligence (AI) and machine learning (ML) opens up new possibilities for Schlumberger to evolve its IT infrastructure and solutions. At Naiss, a venture capital firm, Schlumberger learned about ML and AI early stage investments and technology life cycles. ML as-a-service platforms have reached enterprise grade maturity, enabling corporations to embrace ML at scale.<\/p>\n\n\n\n In the past few years, Schlumberger has already reduced costs by harnessing automation software. Schlumberger\u2019s adoption of ML and AI could further help them in the process of launching their digital and automated land rig drilling system, which Schlumberger has referred to as the \u201cRig of the Future.\u201d The Rig of the Future program was created to improve drilling efficiency by digitizing existing workflows and documents to enhance the overall integrated drilling system performance. AI is also poised to open great possibilities for the oil and gas industry. As Vidar Gunnerud, CEO of Norwegian tech start-up Solution Seeker says, \u201cI think this is going to be a long journey, and AI is not a simple term. AI could mean a lot of things, and the oil companies will start in small steps as they add more complex content to the algorithms.\u201d<\/p>\n\n\n\n Schlumberger takes pride in its well-established corporate value of focusing on its people: \u201cPeople thrive on the challenge to excel in any environment and their dedication to safety and customer service worldwide.\u201d Schlumberger aims to be consistent and transparent with all clients to win and retain their trust.<\/p>\n\n\n\n Through a visit to Amazon, Schlumberger gained perspective about game-changing ways to engage with customers. With its mission to be the Earth\u2019s most customer-centric company, Amazon has best understood the shift in the nature of customer relationships. Social media, for example, now allows customers to engage brands directly and take their complaints to the public arena. Amazon keeps up by using robots to perform some basic customer service functions, leaving agents to deal with more complicated issues. Amazon now has more than 100,000 robots which prioritize support interactions to keep customers consistently satisfied without putting a strain on employees.<\/p>\n\n\n\n Meanwhile, at Squirro, a leader in context intelligence, Schlumberger learned about combining structured and unstructured data to make decisions. Squirro showed how it can deliver personalized, real-time contextual insights from a sea of information. With multiple stakeholders and complex projects around the globe, achieving similar capabilities through algorithms and predictive analytics could help Schlumberger to reduce web searching time by 90%, significantly cuttings costs and allowing for better and more effective decision-making.<\/p>\n\n\n\n What does overall product development and services look like for Schlumberger in the future? In a marketplace where speed and flexibility are more important than ever, oil and gas companies are using cloud computing, automation, and other technologies to transform their back-office systems, operations, and product and platform offerings.<\/p>\n\n\n\n The goal is to harness automation for complex projects and build digitally enhanced factories that provide continuous information to help achieve greater levels of quality, efficiency and cost reduction.<\/p>\n\n\n\n As Schlumberger CEO Paal Kibsgaard says, \u201cFor the complexity of data\u2019s oilfield operations and the advances made in other industries in terms of total system performance it is clear that replacing the industry\u2019s fragmented approach with a new focus on complete technology systems holds a massive performance upside.\u201d<\/p>\n","post_title":"Schlumberger Drills Deeper to Innovate Oil and Gas Sector","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"schlumberger-drills-deeper-to-innovate-oil-and-gas-sector","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/schlumberger-drills-deeper-to-innovate-oil-and-gas-sector\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":670,"post_author":"1","post_date":"2018-08-10 18:40:00","post_date_gmt":"2018-08-11 01:40:00","post_content":"\n The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980<\/a>, many activities in the industry still operate as those from 30 years ago.<\/p>\n\n\n\n Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons for this resistance include entrenched mindsets, massive legacy investments in non-digitized equipment and processes, a non-digitally native workforce and regulatory issues surrounding safety, environmental protection and access to new drilling locations. However, this resistance does not mean digital transformation will not ultimately sweep the industry, as the following illustrations predict.<\/p>\n\n\n\n Despite massive advances in AI and machine learning (ML), the oil and gas industry still lags in the adoption of predictive modeling based on big data collection and analysis. Take for instance the fact that one oil rig generates terabytes of data per day, but only a fraction of this data is analyzed and utilized in predictive modeling and decision making. Or despite oil companies spending between a quarter and half a billion dollars to drill one offshore well, only between 20 and 25% of all drilled wells are successful.<\/p>\n\n\n\n Repsol, in collaboration with IBM, is seeking to disrupt this status quo by using predictive modeling cognitive technologies powered by AI. By enhancing current field productivity and significantly reducing exploration risks, the cognitive system will help bridge the gap between investments made in acquiring and utilizing new oil fields and the success rate captured from these activities.<\/p>\n\n\n\n Compared to other industries, the oil and gas industry stands to benefit the most from advances in IoT, especially in the field of Industrial IoT (IIoT). Due to the extensive use of machinery in drilling operations, utilization of sensors to monitor equipment performance, maintenance requirements and possible points of failure can have a massive impact on industry-wide operations.<\/p>\n\n\n\n For instance, BP, in partnership with Silicon Microgravity, has developed IIoT sensors able to measure up to a billionth part of the strength of Earth\u2019s gravity, an advancement that makes it possible to monitor water and oil levels deep within boreholes, helping provide early alerts to water contamination of oil wells.<\/p>\n\n\n\n Another example of how IIoT is transforming the oil and gas industry is how Apache Corporation is using smart sensors and predictive analytics to monitor and anticipate the failure of electronic submersible pumps (ESPs), which costs the company on average 10,000 barrels a day. By mining data and analyzing it for patterns, it is possible for the oil and gas industry to reduce wastage, enhance utilization of existing assets and enhance safety and environmental stewardship.<\/p>\n\n\n\n An almost-immutable distributed ledger of records, blockchain has multiple possible applications in the oil and gas industry that could help reduce revenue leakage while enhancing supply chain operations. As the industry is heavily dependent on the collaboration of multiple vendors, use of smart contracts can help keep a clear record of transactions and reduce time and resources wasted in performing repetitive verification tasks.<\/p>\n\n\n\n Digital transformation also comes with the threat of malware and cyber attacks, an issue that blockchain can address effectively. By maintaining a distributed network of records of transactions carried out by smart systems, oil and gas organizations can significantly reduce such occurrences as each function executed would be verified by other blocks within the blockchain before execution.<\/p>\n\n\n\n While drones (Unmanned Aerial Vehicles) are currently utilized to monitor, examine and report on remote oil fields, pipelines, and other assets, this is but the tip of the iceberg in possible applications. Consider the combination of drones with robotics where a drone is capable of not only fly-bys but also to land, execute mechanical tasks and then take off. Such an application would be especially useful in situations where the drone flags a critical issue, and immediate action must be taken to avert disaster.<\/p>\n\n\n\n Further applications include data collection by drones on climatic, geological and seismic activity to identify patterns hard to spot from the ground. By analyzing and subjecting this data to predictive analytics, it is possible for an oil company to anticipate issues like pipeline leaks and seismic-triggered equipment damage. Overall, drones can improve efficiency, speed, and expenditure on risk assessment.<\/p>\n\n\n\n The mining industry is perhaps the best known for utilizing AVs to carry out mining activities. With the use of AVs, the mining industry has seen a rise in productivity and a reduction in risk to human personnel. In the oil and gas industry, it is possible to see such gains through the adoption of AVs. One specific area of interest is the use of AVs to manage critical oil discovery operations for offshore rigs.<\/p>\n\n\n\n As oil exploration depths often exceed 2 kilometers below the surface, using Underwater Remotely Operated Vehicles (ROVs) can help improve efficiency and reduce risk associated with these often-dangerous activities. For operations in remote areas such as the Alberta tar sands, utilizing AV trucks may provide a sustainable solution to the massive amount of trucking required in such a hostile environment. Such developments create an opportunity for oil executives considering going after hard-to-access oil deposits that may currently not provide a favorable cost-to-benefit ratio.<\/p>\n\n\n\n One of the greatest concerns in the oil and gas industry is safety. Elaborate signage and checklists help ensure safety but only to a certain point. In most cases, the single point of failure is often because of a missed step in a procedure, or a critical failure of equipment. AR advances may help reduce such instances.<\/p>\n\n\n\n In one example of the use of AR to enhance safety<\/a>, Schlumberger, in collaboration with Parsable, an AR startup, is developing smart wearables based on the concept pioneered by Google Glass. The wearables provide workers with always-on access to safety procedures, checklists, live gauge readings and other important data. The data that the worker is creating and observing is also transmitted in real-time to a command center that monitors for any anomalies. With such an implementation of AR, Schlumberger hopes to see a reduction in danger instances.<\/p>\n\n\n\n In a rapidly evolving world, these examples paint a picture of an industry that can massively benefit from digital transformation. Capitalizing on these changes is, however, only possible through innovation sponsorship beginning with top management. By fostering a culture of innovation and a push for digitization, senior executives can better position their companies to benefit from the emerging digital transformation shift in the oil and gas industry.<\/p>\n\n\n\n This shift, according to a Digital Transformation Initiative white paper<\/a> by the World Economic Forum, will unlock up to $1.6 trillion in value for the industry. Moreover, this number almost doubles when full utilization of the technologies outlined in this article is factored in, something the Gartner Hype Cycle<\/a> predicts will happen in the next 5-10 years.<\/p>\n","post_title":"Digital Transformation Advances Reshaping the Oil and Gas Industry","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-advances-reshaping-the-oil-and-gas-industry","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-advances-reshaping-the-oil-and-gas-industry\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":800,"post_author":"1","post_date":"2018-02-09 22:52:00","post_date_gmt":"2018-02-10 06:52:00","post_content":"\n It is estimated that there are approximately 3x more IoT connected devices than humans on earth.<\/p>\n","post_title":"IoT Devices Outnumber Humans on Earth","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"iot-devices-outnumber-humans-on-earth","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/iot-devices-outnumber-humans-on-earth\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"prev":true,"total_page":3},"paged":1,"column_class":"jeg_col_2o3","class":"epic_block_5"};
\n
Latest
Conclusion<\/h2>\n\n\n\n
\n
Latest
Conclusion<\/h2>\n\n\n\n
\n
Latest
Conclusion<\/h2>\n\n\n\n
\n
Latest
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
![\"The](\"https:\/\/siliconvalley.center\/wp-content\/uploads\/2019\/12\/IMG_7224-1.jpg\")
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
The Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
The Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
![\"Top](\"https:\/\/siliconvalley.center\/wp-content\/uploads\/2019\/12\/IMG_7085-1.jpg\")
The Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
The Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
![\"The](\"https:\/\/siliconvalley.center\/wp-content\/uploads\/2019\/12\/OilGas_Program_Banner_1543x546px-1.jpg\")
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Predictive Analytics<\/h2>\n\n\n\n
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Predictive Analytics<\/h2>\n\n\n\n
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Predictive Analytics<\/h2>\n\n\n\n
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Big Data<\/h2>\n\n\n\n
Predictive Analytics<\/h2>\n\n\n\n
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Big Data<\/h2>\n\n\n\n
Predictive Analytics<\/h2>\n\n\n\n
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
\n
Latest
Big Data<\/h2>\n\n\n\n
Predictive Analytics<\/h2>\n\n\n\n
Robotics<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
<\/a><\/figure>\n","post_title":"Digital Transformation Insights - Autonomous Power Plants Are the Future of Energy","post_excerpt":"","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy","to_ping":"","pinged":"","post_modified":"2019-12-27 20:45:15","post_modified_gmt":"2019-12-28 04:45:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/siliconvalley.center\/blog\/digital-transformation-insights-autonomous-power-plants-are-the-future-of-energy\/","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":652,"post_author":"1","post_date":"2018-09-14 14:33:00","post_date_gmt":"2018-09-14 21:33:00","post_content":"\n\nhttps:\/\/youtu.be\/G1RRuq0WxI8\n<\/div><\/figure>\n\n\n\n
Building the \u201cRig of the Future\u201d<\/h2>\n\n\n\n
For over 80 years, Schlumberger has been the world\u2019s leading provider of technology and services for oil and gas exploration, drilling, production and processing. All along, Schlumberger\u2019s commitment to technology and quality has been the basis for its competitive advantage. With 125 research and engineering (R&E) facilities worldwide, Schlumberger places strong emphasis on developing innovative technology that adds value for customers. In 2017, the company invested nearly $800 million in R&E for their oilfield activities.<\/p>\n\n\n\nThe Customer-Obsessed Culture<\/h2>\n\n\n\n
Looking into the future<\/h2>\n\n\n\n
1. Artificial Intelligence (AI)<\/h2>\n\n\n\n
2. Internet of Things (IoT)<\/h2>\n\n\n\n
3. Blockchain<\/h2>\n\n\n\n
4. Drones (UAV)<\/h2>\n\n\n\n
5. Autonomous Vehicles (AV)<\/h2>\n\n\n\n
6. Augmented Reality (AR)<\/h2>\n\n\n\n
Conclusion<\/h2>\n\n\n\n
Latest
