fetching latest news
News tagged in:
To provide better efficiency and productivity to the oil and gas industry, the Oil & Gas Innovation Centre will support digitalization based 3 new projects. For oilfield digitization, 3 companies have collaborated with RGU School of Computing Science and Digital Media to carry out research work. CEO of OGIC said that these projects will “reduce costs and increase efficiency and, ultimately, production in a less labor-intensive way.”
Asset optimization software company, Aspen Technology has joined hands with Advantech B+B SmartWorx to deliver IIoT Connectivity Solutions. Working under a software license and distribution agreement, the two firms will deliver low-cost Industrial Internet of Things (IIoT) infrastructure. The developed framework will enable its customers in asset-intensive industries to achieve higher levels of operational excellence through digital transformation.
3D visualization, simulation and digitalization solutions provider, Abyssal is teaming up with Wood to develop the latest digital technology directed at improving the design, constructability, operation and inspection of global subsea assets. Wood will provide superior competency through the technology, combined with their extensive engineering and operational expertise to the oil and gas operators.
The 22nd biennial Offshore North Seas (ONS) conference saw Christopher Hoftun from ASCO, Norway talk about the dawn of new culture of innovation in the oil and gas industry. As leaders from the industry gathered in ONS for a 4 day conference, the Digitalisation and innovation manager for ASCO Norway laid emphasis on the digital transformation of the offshore supply chain industry.
Keeping up with the digital revolution that has taken the oil and gas industry by storm, a new app has been unveiled that equips Digital Workers with live access to real-time and other information. The app has been developed by digitalisation software provider, Eigen, and is built on Eigen’s ‘Ingenuity’ platform. Lundin, Norway is currently using the app for its operations.
Halliburton International introduced Prodigi AB Service today. This service breakdowns the process of a fracturing treatment through automation and helps deliver better well performance. Prodigi AB uses algorithmic controls and improves the overall efficiency of the system. It also maximizes the perforation clusters performance. Halliburton has used this service in the Permian basin, with excellent output for Primexx Energy Partners.
Chiyoda Corporation, the Japanese engineering major, has concluded a Memorandum of Understanding (MOU) with Abu Dhabi Gas Liquefaction Company Limited (ADNOC LNG) to provide state-of-the-art digital technologies, including artificial intelligence and big data analytics, on ADNOC LNG’s facilities. Chiyoda is striving to achieve the objective of ‘technology and business innovation (developing a new business model for a digital society)’.
A recent study by Emerson reveals that unconventional oil and gas operators can greatly enhance their performance with profits up to $7 billion by adopting advanced automation technologies. Digital transformation and Industrial Internet of Things (IIoT) is shaping future operational excellence. Profitability can improve by as much as 10% with a comprehensive improvement program.
The Oil and Gas Technology Centre, Total E&P and Taurob, in collaboration with Technische Universitaet will soon come up with robots designed to work autonomously alongside humans on a North Sea platform. It is a landmark project which could revolutionize offshore robotics and enhance safety and productivity. Further, it would lead to cost reductions.
With the aim of enhancing value creation from operated fields in Norway, Statoil plans to invest about 1-2 billion kroner in digital technology upto 2020. Digitisation shall pave the way for greater advancements in operational quality and safety in the work environment. The integrated operations support centre (IOC) with the help of digital technology will strengthen offshore and onshore interaction and also, the interaction with the suppliers and partners.
President and CEO of Saudi Aramco, Amin H Nasser, expressed his company’s endeavors in actively pursuing and investing in innovative technologies at the annual CERAWeek conference in Houston. He also said that oil will maintain its key role in the global energy mix for the foreseeable future, despite the increasing growth of renewables. The growing world population requires the continuing development of several types of energy sources simultaneously.