Top companies in harnessing digital oilfield technologies: GlobalData

32333084546 0bc0663ddc cData and analytics company GlobalData has identified a number of multinational companies, including BP, Shell, Chevron and Equinor, as leaders in harnessing the digital oilfield technologies

The digital oilfield concept in the oil and gas industry deals with the application of digital oilfield technologies to processes and workflows in order to maximise productivity, reduce costs, and minimise risks.

The adoption of digital oilfield technology allows oil and gas companies to create a ‘digital twin’ that replicates the performance of an oilfield on a computer.

The company’s latest report, ‘Digital Oilfield – Thematic Research’, noted that the adoption of digital oilfields has gained impetus in the last 15 years due to technological advancements in sensors, robotics, automation and control systems, as well as wireless networks.

Listed below are the leading companies and service providers in digital oilfield, as identified by GlobalData:

BP

British oil major BP has conducted studies across its production sites worldwide to maximise productivity with the application of digital oilfields. It is collaborating with technology providers for advancing the development of software solutions of the digital oilfield.

Royal Dutch Shell

Anglo-Dutch firm Shell has tested digital oilfield technologies for the past several years. The company has seen an increase in productivity and recovery rate while reducing the downtime.

Shell is also leveraging the technologies and data analytics solutions offered by start-ups such as Ingenu and C3IoT to aid in the digital transformation of its operations.

Chevron

Chevron has been testing the concept of digital oilfield since 2002. It has derived millions of dollars in cost savings while minimising safety risks at its platforms.

In 2017, Chevron signed a long-term partnership with the Microsoft Corporation to leverage the cloud computing and data analytics capabilities of its Microsoft Azure platform to strengthen Chevron’s position in digital transformation.

Equinor

Equinor is driving the digitalisation of its upstream operations, especially in the North Sea region to enhance safety and efficiency, while cutting back on carbon emissions. In 2017, the company set aside US$200mn-US$300mn to develop digital technologies by 2020.

Equinor is deploying some of the latest digital technologies at the Johan Sverdrup oilfield to monitor all aspects of the field’s operations remotely.

Anadarko Petroleum Corp

Anadarko Petroleum Corp has deployed sensors on a pilot basis in more than 20 wells in the shale-producing region of Colorado to accumulate well-site equipment data. The company has developed machine-learning algorithms to analyse this data and has reduced non-productive time in these wells.

Schlumberger

Leading oilfield services provider Schlumberger is utilising its vast expertise in exploration and production to develop digital technologies for minimising risks and improving equipment diagnostics.

Schlumberger formed a joint venture (JV) Sensia with Rockwell Automation in February 2019 to develop products for digital oilfield automation.

Halliburton

Halliburton is attempting to develop robots that can be deployed in hydraulic fracturing in the US shale plays. The company has automated specific areas of hydraulic fracturing operations, which has helped reduce delays in operations and boost productivity.

Baker Hughes-GE

The combined entity, Baker Hughes with GE Oil and Gas, has emerged as an integrated provider, which is leading the charge in the development and deployment of digital oilfield solutions.

Target monitoring drilling and well completion operations, reservoir modelling, predictive maintenance, and asset surveillance solutions are some of the products offered by the company.

Weatherford International

Weatherford, an oil and gas services provider, has rapidly expanded its digital technologies to increase its adoption of Internet of Things (IoT) in the oil and gas sector. The company offers intelligent field devices and a cloud-based software suite for production optimisation.

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