Benefits of Cloud Computing in Oil and Gas Industry – Increase Throughput / Efficiency

While OCS had no idea of the future of the digitalization industry back almost 20 years ago when we first started to embark on developing digital software for project management and inspections in place of paper and excel sheets. The purpose at that time was to automat reporting and collection and integration of information so it could be used instantly and provide analytical information on a total project to improve efficiency.

As the world has developed and progressed the future now is quite clear for companies, digitalize your processes or eventually fall behind your competitors.

Some overview below of where the future is heading for not only the oil and gas industry for most major companies, however this article is mainly targeting the oil and gas sector.

Please see below for information on the future that our Chief Information Officer (CIO) has put together.

Cloud companies provide their clients with data storage, with the addition of sophisticated tools for analyzing, modelling, and understanding the vast data sets found in the cloud. The sheer size of modern data sets has sparked an explosion of new techniques for extracting information from them.

Many of these techniques are described as “data mining,” “machine learning,” or even “artificial intelligence and “Internet of Things” (IoT) this term usually refers to a network of connected computing and physical devices that can automatically generate and transmit data about physical systems (e.g. automated monitoring of pipeline pressure and flow).

Digital innovation is a key component of oil and gas strategies for ever increased efficiencies and to recover from COVID-19, deliver substantial business impact by 2025 and prepare for material energy transition by 2030. Not surprisingly, in 2021 Chief Information Officers (CIO) Survey found that 87% of CIOs expected their digital programs to increase or stay the same in 2021 reason because these programs required rigorously development and proven that there is very high confidence in the large business value they will deliver. ?Now that these systems have been proven, security confirmed an explosive expansion is expected in this area.

As per Gartner’s CIO Review 2021, 85% of CIOs want to accelerate digital transformation in oil and gas industry using platforms, and 79% want to transform their IT culture. -?

Companies that develop new business capabilities to create and evolve customer-centric premium products and services while continuing to improve traditional producer-centric commodity products at scale will have better business options, i.e. more opportunity of efficiency, services and expansion.

?■ Create alignment for the IT

■ Accelerate the journey toward being fully automated and autonomous.

■ Facilitate business innovation by incorporating composable architecture principles

■ highlighted that 47% of respondents reported that the greatest risk from underinvestment in digital was loss of competitive advantage

Backbone for Digital Oilfield – IoT, AI, and Data Management

According to Gartner’s CIO Review 2021, most O&G companies are investing in digital technologies such as IoT, AI, ML, and automation to improve their performance, uptime, and yield. Oil & Gas companies are consciously investing their efforts towards creating digital oilfields to integrate processes with digital technologies to interpret production-related findings in real-time to optimize field production.

Trends report exposes how the three largest cloud companies—Amazon (33% market share), Microsoft (18%), and Google (8%) —are partnering with oil companies to use artificial intelligence technologies to unlock oil and gas deposits in the U.S. and around the world

Google Cloud supporting Cognite (#1 Data Industrial DataOps Platform), Aker BP, and Baker Hughes GE –

Aker BP is one of the largest owner-operators of offshore drilling rigs focused on the Norwegian Continental Shelf and is using Cognite’s Data Platform—built on the Google Cloud Platform— to minimize drilling downtime, which can result in hundreds of thousands of dollars of lost production per hour. ?

?Amazon Web Services helping NoviLabs and Shell

Amazon currently hosts a prominent player in the Permian on its AWS Cloud client: Novilabs, who was hired by Shell to trial its machine learning and artificial intelligence well planning software in the Permian Basin

Digitalize or Fall Behind.

While information must get to the Cloud to provide the benefits of digitalization such as information sharing, instant reporting, collated information and analysis and more, OCS has developed digitalization technologies in various software tools to transfer all information for inspections, maintenance and almost any other information that is required to manage this process.

In fact, OCS has developed its own Cloud Data storage systems to also manage the process of digitalization for information management. While some of the larger companies have almost limitless resources and cash for this purpose, OCS can provide such services at a more economical approach for median and smaller companies.

OCS is not just a project management, commissioning, and inspection company we are the most technically advanced company in the world in this field and provide total solutions in digital technology for inspections and projects.

See below how all the Major Oil & Gas companies are managing their digital processes. It is expected that middle and small companies will soon follow suite even if in a smaller way.

Please contact me for further information.

Mark Tranfield

OCS Group