As early as the 1980s, oil and gas companies began to adopt digital technologies, with a focus on better understanding a reservoirs resource. At the same time a number of trends will support oil prices. They present a strategic outlook for technological development in the industry, based on analysis of global energy supply and demand, current and future investment trends in energy technology, the potential impact of technological advances in the oil and gas industry, and the viability of alternative energy technologies. Subscribe to bain insights, our monthly look at the critical issues facing global businesses. Understanding the enemy 5 current state of cybersecurity 6 the advanced persistent threat 7 ii. Zhang 10 added a mass balance of the water in order to calculate the condensation rate. To calculate the potential impact of digital technologies, mckinsey conducted research on more than 100 use cases at oil and gas companies and identified three categories for the application of digital technologies. Companies are turning to technology to thrive within this heavily competitive market. The reengineering technology trend offers oil and gas company cios and their teams a roadmap for fundamentally overhauling it, from the top down and the. To emphasize this point, emerson has identified six current trends in the upstream. Information technology and operational technology 9 the value proposition of ot 10 the threats to oil and.
As this period of high infrastructure investment, which began after the 20082009 financial recession, continues to progress it will largely reverse a macro energy infrastructure trend. The annual upstream oil and gas digital trends survey is commissioned by accenture and microsoft. Oil and energy trends is the worlds most comprehensive monthly source of international energy information. Nowadays, we can talk about iot and cloud computing to indicate a new type of distributed system consisting of a set of smart objects which are. Technology and the future of energy cambridge core. Pdf the internet of things in oil and gas industry. Keywords trends, technologies, oil and gas industry. In this paper explores opportunities and challenges big data in oil and gas industry. Applications employing blockchain technology are gaining momentum in oil and gas companies based on data governance that the it department administers. Technology can now deliver big data from virtually every aspect of drilling, production, operations and maintenance.
Theyre leveraging newage technology to bring the oil and gas industry up to speed. The oil and gas organization of the future mckinsey. Typical technologies for the different phases in the oil and gas production process. How technology is changing the oil and gas landscape for. The companies in the oil and gas industry are faced with challenges and hard competition. When advances such as digital reality, cognitive, cloud computing, and blockchainto name just a fewwork in. Oil and gas companies that respond to the digital transformation toward efficiencies by building sustainable digital capabilities will be tomorrows winner. Get out the blocks fast, hit every stride sweetly and cross the finish line to first oil in record time. Respondents were oil and gas industry professionals including engineers, midlevel and executive management, business. We are now entering a time of great change, with major societal, technological, and political trends reshaping the environment in which oil and gas companies. Nowadays, it seems like more and more companies want to become the carl lewis or usain bolt of drilling. Technology disruption in the oil, gas and chemicals industry is accelerating the pace of change and generating a. The advent of new technologies in the field of offshore natural gas exploration, and in the il ando gas industry in general has received increasing amounts of attention in recent years.
The postdigital era is upon us are you ready for whats next. Taking into account the us oil production progress many analytical agencies lower their longterm oil price forecasts. Advancing systems and technologies to produce cleaner fuels oil and gas in the energy economy of the united states fossil fuel resources account for 82% of total u. This is rendering national oil companies international. Pdf opportunities and challenges big data in oil and gas. The council is not advocating or opining on the realism or likelihood of any given scenario, but considers what would. Pest analysis for global oil and gas companies operations. China, hungry for western hydraulic fracturing and horizontal drilling technology and knowhow has been on a buying spree for nearly a decade.
Part of pwcs 22nd annual global ceo survey trends series. Vision 2040 global scenarios for the oil and gas industry 7 trends four trends were identified as determinant for the oil and gas industry when the years that separate us from 2040 are analyzed. Oil and gas industry a new era for the oil and gas industry the oil and gas industry is no stranger to big data, technology and digital innovation. Without largescale use of new technologies, oil production in russia will begin to fall in 20162017.
Operational excellence in the oil and gas industry. Most of these byproducts will be pumped back through the injection wells. We are now entering a time of great change, with major societal, technological, and political trends reshaping the environment in which oil and gas companies operate. The oil and gas industry natural resource governance. In the oil and gas industry, ai allows companies to uncover trends that pinpoint and predict inefficiencies.
Advancements in technology are helping oil and gas companies to improve efficiencies and save costs, but the uptake is still slow. This is becoming particularly relevant due to the environmental, health and s afety ehs record of offshore. The increase in unconventional oil and gas production in the us serves as a good example. The postdigital era is upon us are you ready for whats.
White paper digital transformation initiative oil and gas. The next frontier for digital technologies in oil and gas. Trends, and impacts june 2019 office of oil and natural gas office of fossil energy. The amazing technology disrupting oil and gas think. Production and transmission delivers the most uptodate and highly multidisciplinary reference available to identify emerging developments, fundamental mechanisms and the technologies necessary in one unified source.
In the past, ot operational technology networks were walled off from the internet, but todays need for efficiencies and realtime decisionmaking obviate that liberty. Although the oil and gas industry has always been volatile, there was nonetheless a comfortable predictability to the boom and bust pendulum. Transport ships will collect the oil from the fpso every 7 to 10 days and ship it to worldwide refineries. Technology is rapidly shifting from being the legacy enabler to being a game changer.
The crude oil production in nigeria is estimated to witness a decline of approximately 7. In the area of surface systems and umbilicals, major trends are. New technologies for eastern mediterranean offshore gas. The advent of the internet of things iot is changing the way to conceive distributed systems. Tech trends 2019 oil, gas and chemicals perspective deloitte. Bain insights help executives navigate the shifting sands of the oil, gas and alternative energy markets. The russian oil refining industry will undergo significant. Top digital transformation trends for energy and utilities. Trends in oil and gas corrosion research and technologies. The capability to process, analyze and develop insights from data has unfortunately not spread as quickly. As technological trends play out for oil and gas companies, they will help to influence innovations in many areas of the business. Many oil and gas companies are beginning to harness these enablers to drive better performance. Pioneering the way for a net zero future techx programme announces cohort 3. The finite availability of crude oil has long been recognized although exact estimates of how finite these reserves are vary greatly, but.
For it to be the fuel that can go into a car or converted into plastics, it must go through a. The past 8 years has seen chinese stateowned oil companies spend. Finally, to mention that one major technology that will also play a vital role in the future of oil and gas industry globally until 2030 is the methane hydrates extraction technology. Methane hydrates deposits probable and possible reserves according to the experts of oil and gas industry are estimated more from the combination of oil, gas. The oil and gas industry overview and trends nrgi reader april 2015 this reader is intended for use in conjunction with the natural resource charter. How technology is changing the oil and gas landscape for the better by andreea ene. Refining what comes out of the ground is not often a form of petroleum that can be used right away. Applying digital technologies in development and production. The symphonic enterprise is deloittes ninth examination of the forces that are disrupting and redefining information technology it, business, and society in general. Big data space is developing rapidly in all areas,especially in the oil and gas industry.