You're embarking on an oil and gas project. How do you choose the right new technology solutions?

In my Pov to make the best technology choices for an oil and gas project, it's important to start by gathering input from all relevant departments to understand their needs. From improving operations to addressing safety issues and reducing environmental impact, it's crucial to identify the specific challenges that need to be tackled. After that, it's time to assess the current technologies in place and figure out where they might be falling short, followed by prioritizing the most pressing needs based on potential return on investment and their alignment with project objectives.

Start by pinpointing the specific project needs, considering efficiency, safety, and environmental impact. Dive into market research to spot emerging technologies using industry reports, case studies, and expert advice. Test potential solutions and study their feasibility to gauge performance and scalability.

Es importante realizar un análisis de portafolio utilizando esquema de frontera eficiente en 3 dimensiones; rentabilidad, incertidumbre y sostenibilidad, de esta manera escoger las inversiones óptimas y la tecnología asociada

Very rightly said that - A more expensive technology that offers long-term savings and increased productivity might be more economical over time than a cheaper alternative that requires frequent repairs or upgrades. Hence the total cost of ownership should be looked into after considering the initial investment, ongoing costs, and potential savings. Determining the expected return on investment for the technology is also something required which every top or senior management would do. Lastly allocating the resources based on the highest potential impact projects is th ekey for any organization to ensure high impact areas are considered on priority. E.g. For industries such as Oil&Gas, manpower or workforce management plays a KEY role.

Factors such as efficiency improvements, potential risk reductions, and the scalability of the technology should be evaluated. It's also important to assess the total cost of ownership, including maintenance, training, and potential downtime. Collaboration with stakeholders is essential to gather insights and ensure that the selected technology not only fits within budget but also enhances overall project performance and sustainability. By prioritizing solutions that offer the highest return on investment while addressing critical operational challenges, informed decisions can be made to support project success.

Ensuring seamless integration of new technology with existing systems and evaluate how the technology will interact with other tools and platforms can't be overlooked. Seamless integration ensures minimal disruption to your operations and helps maintain productivity. Checking for application programming interfaces (APIs) to facilitate data exchange will enable the relevant evaluation, whether the new technology is compatible with the firm's current infrastructure and whether it requires additional investments to bridge any gaps.

Vendor support is an often overlooked, yet critical factor in selecting new technology solutions for oil and gas projects. A strong vendor partnership can significantly impact the project's success, efficiency, and overall ROI. The term vendor should be replaced with partner, in the journey (journey of adopting new technology). A strong relationship fosters ongoing collaboration and improvement. By carefully evaluating vendor (partner) support capabilities, the entity can select technology solutions that not only meet their project requirements but also provide the necessary support for long-term success.