- What you need to know...
- There is more work to be done to successfully implement digital oilfields.
- In the last fifteen years, the adoption of digital oilfields has gained impetus due to technological advancements in sensors, robotics, automation and control systems, and wireless networks.
- Artificial intelligence (AI) and data analytics tools for oil and gas industry have also matured considerably of late. However, lack of well-defined processes and workflows and the unavailability of digital-ready workforce is hindering the process of digitalization in the oil and gas industry.
- Dependence on legacy systems, and remotely scattered oil and gas fields are further complicating datacapture from all producing assets.
Multinational oil and gas companies, such as BP, Shell, Chevron, and Equinor are the leaders in enabling digital oilfield technologies through their collaborations with technology and automation providers as well as by investing in in-house research. Within the oil and gas industry itself, there are a number of companies that are focused on development and implementation of technologies for enabling digitalization.
GlobalData’s Digital Oilfield – Thematic Research report classifies them into four segments and explores this further.