Agenda

While leading corporations in the downstream oil and gas industry try to seek market and shareholder differentiation in sustained growth and efficiency, this is extremely difficult to accomplish.

Digital transformation is one of the core innovations being used by leading downstream oil and gas corporations to reduce cost and increase asset utilisation, sustainability and productivity.

Big data, cloud, Industrial IoT, machine learning, augmented reality, virtual reality, etc., are all horizontal technologies. All these technologies are being deployed at scale in both midstream and downstream industries. We have the technology to operate, simulate, and manage the most critical and remote oil and gas assets across the globe, to move to a point in our evolution to establish a "zero accident" environment, minimal non-productive time, improved competencies, and create a positive return on investment.

KOC decided in 2009 to move forward to the cutting-edge technology through deploying pilots of Kuwait Integrated Digital Field “KwIDF” in the different KOC assets–North Kuwait (NK), South & East Kuwait (SEK), and Exploration & Gas (E&G). 

Throughout the years, KOC had multiple investments in Digital Strategy which included instrumenting the wells and utilising real-time data for ESP optimisation, enhancing the KwIDF systems, developing Integrated Operational Excellence philosophy, etc.

During the last ten years, KOC established the learning curve through various transformational initiatives. The actions resulted in significant added values to the production and the reservoir management. Moreover, from the pilot findings and lessons learned, and in line with 2040 strategy, KOC proposed the new generation KwIDF in full scale. 

In this session, we aim to summarisze the learnings of KOC’s digital transformation journey.  The presentations in this session also aim at discussing the next steps of transformation to achieve the 2040 strategy.  

The oil and gas industry still hasn’t exploited the full potential in innovating, leveraging new technologies, and adopting change. Our industry is now at a pivotal point in its evolution and we are now on the verge to start the journey of transformation. The rise of new technologies, partner readiness, customer awareness, along with the ongoing global push for reduced environmental impact, fluctuation in oil prices are all altering the industry. All these factors grow pressure on organisations to streamline their operations in order to improve overall efficiencies and increase production.

In light of these challenges, to kickstart the sector’s technological revolution and achieve higher levels of stability, how can we leverage technology advancement to innovate? What type of new skill sets are required? And how can we ensure change is embraced and adopted by different resources?

In the present global scenario, the need is not only for volume, but also for value. The oil and gas industry needs to earn revenue and remain profitable in a new price regime. The industry cannot sustain a costly and inefficient value chain in the exploration, processing and delivery of oil and gas products to the global markets. Thus, there is a need to focus on new and pioneering technologies for a sustainable business. The oil and gas industry should also take the technology advantage where possible to achieve the benefits offered by digital transformation while considering needed cyber controls. Digital transformation with the right measures enables the utilisation of the abundant amount of gathered and stored data to provide analytical insights regarding the operation. This session will focus in detail on why it is important to adopt digital transformation in the oil and gas industry and what are the various benefits offered by the technology.