With the current climate leading to OPEX cuts and reduced staff, there is an increased pressure on all operators to have more lean production operations in order to remain profitable. Under such circumstances, operators like Chevron, Marathon and Anadarko are increasingly seeing the value of leveraging technology to allow them to stay afloat and are partnering with companies like GE, IBM and EMC.
The benefits of leveraging digital technology are clear: by ensuring the right data is delivered to the right people at the right time, operations staff are able to make more effective decisions which will have a positive impact on their production. As BP recently wrote: a time of lower prices, revenues and capital spending, digital technologies – including sensors, data analytics and automated systems – stand out as the leading contributors for reducing costs.
Key areas of focus for operators to reduce costs lie in running effective remote operations centres, leveraging data and software to give them operational visibility. Another key priority is in leveraging analytics and IOT to understand the condition of their equipment and prevent failures, therefore cutting costs.
Analysts forecast the global big data market in the oil and gas sector to grow at a CAGR of 30.67% during the period 2016 - 2020. All of these facts point towards an area of the industry which continues to provide opportunities to operators and service companies alike during tough times.
Upstream operators and technology providers will be gathering for the Data Driven Production Conference (7 - 8 June, Houston) to leverage this opportunity. Operators will be sharing insight on their digital programs include Statoil, Chevron, Shell, Anadarko, Murphy, ConocoPhillips, Noble, Exco, Marathon. They will be meeting with technology providers with solutions to their operational challenges such as GE, Siemens, IBM, EMC, Rockwell Automation and Schneider Electric.
Key Highlights of the Data Driven Production Conference
- Network with 200 other data driven experts from the upstream and digital community. Companies on board include Chevron, Shell, Anadarko, GE, IBM, Siemens and more.
- Exclusive insight from Anadarko, Murphy Oil and Exco into their success and challenges in running their onshore Remote Operations Centers.
- Insight into the analytics programs from Chevron and Noble Energy- understand how they are optimising production and making the analytics ‘buzz’ word a reality.
- Hear from the most cutting edge technology companies, such as EMC, GE and IBM on the leading analytic and IOT technology opportunities.
- The event is already 30% up in attendance on last year, with Marathon, Apache and Chevron all sending large delegations.
Adapted from a press release by David Bizley
Read the article online at: https://www.oilfieldtechnology.com/digital-oilfield/11052016/companies-to-unite-for-upstream-and-digital-opportunities/