Malaysia Government


Digital Transformation of the oil and gas sector

@machinelearnbot

The oil and gas industry has always been seen as conservative and resistant to change but due to the recent drop in the oil prices, both the upstream and downstream companies are looking now at innovative ways to reduce CAPEX and increase production and safety to achieve operational excellence. The digital technologies and IIoT are seen as the main way to a varied range of key benefits. In a recent survey published by GBC, the keynote speakers of the IIoT and Digital Solutions for oil and gas conference (OMV, Eni, Petronas and Halliburton) have mentioned that the mind-set change in integrating the IT in the overall business strategy and the breakdown of cultural and technical silos will leverage the speed of the opportunities in this sector and will deeply transform the legacy operations. This has a direct impact on the skills required in the future in the oil and gas industry as well. It is a common agreement in the industry that Real time resource optimization, predictive maintenance, personalised service at the retails points and integration of the supply chain make a difference for both upstream and downstream operations.