OpenGov Asia is pleased to invite you to this exclusive and highly timely OpenGovLive! Virtual Breakfast Insight aimed at imparting knowledge on maximising business potential and automating systems and processes that can drive more business whilst reducing the costs, applicable across different industries.
Hours of Content
The oil and gas industry is having a bit of an identity crisis which is fundamentally related to the transition of the energy industry and is also facing new hurdles to efficiency and profitability throughout this new normal. Entities across the entire oil and gas value chain such as exploration, production, midstream operators, wholesale, downstream distribution, trading and even retail operations are continuously forced to deal with the new and fluctuating realities of global hydrocarbon market prices, increased pressure from authorities on the environment and a fluctuating investment climate due to global uncertainty driven by dynamic and uncontrollable external forces.
Both oil and gas companies and government bodies are seeking a much higher drive-in operational efficiency rather than increased output, in order to deliver the level of profitability that is required to underpin hydrocarbon-based economies, particularly in Indonesia.
Digital Oilfield 2.0: Accelerating Digital Transformation and Innovation
Investing in digital technology for transforming operations across the entire oil and gas value chain is now a key imperative that can no longer be delayed since operational efficiency and profitability is clearly a continuing reality.
There is an incredibly positive outlook for companies that are prepared to engage in leveraging fast-advancing technologies such as cloud computing infrastructure, sensor networks, IoT, edge computing, streaming messaging, open architectures, open standards & API’s – open-source along with massive advances in artificial intelligence and machine learning to optimise the quality of digital oil field processes, information and making better informed critical decisions with tighter process and information integration across the entire oil and gas value chain. The opportunity for fully integrated groups like Pertamina addressing the whole value chain in this scenario is outstanding.
AI, on the other hand, used by so many industries to predict trends, manage stock levels, handle large levels of data and so much more, is now being harnessed by the energy industry to automate processes, predict trends, improve performance and generally make their operations more efficient and cost-effective. It can even help in resources exploration by mapping and identifying petroleum deposits beneath the earth or detecting equipment failure or gas leaks.
The large volumes of data that AI can require means that many gases and oil companies will now be relying on cloud computing to improve how that data is being processed.
Leveraging fast-advancing technologies for better outcomes
The backdrop for all entities in the oil and gas value chain is a case of dealing with continuous change, whilst increasing profitability, increasing operational efficiency, reducing costs and embracing the realities of energy market transition, decarbonization and lower hydrocarbon prices with both lower upstream output and leaner trading margins.
This problem matrix is forcing oil and gas companies across the entire value chain to explore every single opportunity for lowering costs, increasing operational efficiency and also delivering new and innovative ways to automate exploration, production and innovations in the distribution chain through new digital oil field transformation initiatives leveraging on emerging technologies.
Great and innovative event with amazing speakers
Directorate General of Treasury
Very good virtual breakfast meeting
It is a very interesting meeting, fruitful discussion
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