E&P Digital Transformation: Fundamental Next Step in Creating Value

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The adoption of emerging technologies is essential for all businesses, and even more important for well-­established industries because of the perpetual threat of disruption from competitors. Industries and companies unable to adopt digital transformation are likely to have a short life span in the current digitally driven global competitive environment. While the E&P industry is more than 100 years old and has seen many ups and downs, the prolonged impact of decreased oil prices since 2014 warrants the need for a transformational modification for it to remain operationally viable.

The upstream sector started the digital journey decades ago, leading to incremental improvements. The first step of this journey is “digitization,” which is the creation of data in digital form. Traditional supervisory control and data acquisition (SCADA) systems, meters, utility line monitors, and other equipment provide digital metrics at different frequencies but there are still many operations that are not fully digital, such as daily drilling reports and log reports.

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E&P Digital Transformation: Fundamental Next Step in Creating Value

Satyam Priyadarshy, Technology Fellow and Chief Data Scientist, Halliburton

01 February 2018

Volume: 70 | Issue: 2

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