2020 Digital Oil & Gas IQ Survey: Strategic goals drive technology adoption and implementation

Digitizing the future oilfield

JVK USA with its JV associations in all its oil and gas projects trying to implement a fresh perspective on field operations with digital innovation.

JVK E&P with its JV Associations trying to Digitizing downstream oil and gas operations.

The latest advances in digitization provide a significant opportunity to change the management and operations of downstream oil and gas facilities in a fundamental way. However, many management teams are overwhelmed by the sheer range of new technologies, the pace at which they are developing, and the complexity of applying those technologies across massive enterprises. To make sense of the options, companies need to take a business-first approach to technology, rather than a technology-first approach to business.
01.09.2020

Oil and gas companies worldwide understand the potential of digitization for their downstream operations. Yet they often face challenges in launching and executing digitization projects in their core businesses that would lead to a measurable return on investment. Given the fast pace of technological innovation and the complexity of a downstream business, refiners and petrochemicals we can capture the full value of digitization only if they apply a structured, systematic approach. Based on our experience with oil and gas , JVK and its JV associations trying  approach which consists of three specific areas.

 

First, companies need to prioritize their digitization efforts by linking them to the functions with the maximum value. This includes emphasizing operations and maintenance excellence; connecting the supply chain digitally; and adopting smart health, safety, security, and environment (HSSE) and fire services.

Second, companies need to build foundational capabilities in areas such as data and analytics, technology architecture, talent and culture, and cybersecurity. Developing these capabilities will prepare the organization for ongoing digital transformation, regardless of changes to the underlying technology.

Third, rather than the traditional approach to IT implementation — large-scale programs that take years to complete — downstream oil and gas companies should apply a more agile approach. Specifically, they need to assess their digital maturity across selected