Session Chairs: Gilles Bourdarot, ADMA-OPCO; Sanni Modiu, Saudi Aramco
The production of more difficult sources of fossil energies requires accelerating the implementation of innovative technologies. However, the oil and gas industry is apparently known for its risk averseness which often slows down technology implementation. This session is dedicated to presentations of field cases from the oil and gas industry illustrating how new technologies were targeted and implemented to enhance exploration, production, or new development processes. Case studies will, among other things, analyse and discuss the following:
Session Chairs: Nasser Al-Mohannadi, Qatar Petroleum; Steven Griffiths, Masdar Institute
The oil and gas industry faces many technological challenges in securing future growth. These challenges include exploration and production of nonconventional hydrocarbon resources as well as continued improvements in the recovery of conventional hydrocarbon resources. Therefore, achieving success across the entire innovation life cycle, which consists of research, development, demonstration, and environmentally safe deployment, is imperative. However, the industry’s innovation life cycle has historically been very slow with the process of moving a new idea to the point of commercialisation often taking up to 20 years or longer. This is a significant contrast to other industries with much shorter innovation cycles. The objective of this session is to facilitate exchange of ideas and practical knowledge between participants from non-oil and gas industries regarding their innovation processes and the successes and challenges they face in bringing new technologies to commercial deployment.
What can the oil and gas industry learn from other industries in order to shorten the ‘time to market’ from R&D to commercialisation?
Session Chairs: Ryan McPherson, ITF; Syham Bentouati, Petroleum Development Oman
Oil and gas technologies are often destined for hostile, hard-to-reach environments such as deep offshore waters or in the high temperature and pressure encountered at the bottom of a well. Full-scale tests must be completed before a new technology can be proven and become acceptable to the market. Despite the technological prowess, innovative spirit and imagination that are propelling the industry to greater challenges, there is still an almost innate conservatism within the sector when it comes to adopting new technology.
Responding to a powerful combination of the changing business climate and technological advancement this panel session will discuss the blockers and enablers for the acceleration of influential technology into our industry. Factors to discuss include perceived risk, financial returns, and industry acceptance of new technology.
Session Chairs: Graham Richardson, Taqa; Ulrich Hahne, Baker Hughes
Intel founder Gordon E. Moore's theory in a 1965 paper, known as "Moore's Law," stated that the number of transistors and integrated circuits in computer hardware would double approximately every two years, thereby doubling computer speed. That theory can be applied against the evolution of technology in every industry, be it at varying paces, where not only R&D leaps, but also successful commercialisation of products is paramount to leading amongst competitors.
The oil and gas industry is rather conservative in applying new technologies or business models. Cost of failure and complexity of business models that involve various stakeholders, including governments and investors, along with uncertainty of contract duration, whether for a service company or an operator, are only some reasons, or are these just excuses?
Searching for project solutions in an increasingly complex market, rather than the development of individual products can possibly increase the acceptance of new technology that came by from long R&D hours and costly research and testing. All major service companies developed strong product development processes that should lead to improved quality, increased speed to market, efficient allocation of resources and an improved focus to address what the market really needs, perhaps even ahead of it realising it needs it—is this the case today?
The objective of this session is to facilitate discussions on how time to market from R&D to commercialisation can be reduced and what business models are required to stimulate a faster implementation of new technology.