“Digital Transformation” has become the latest must-have fashion accessory for oil & gas companies in recent years as they seek to assure shareholders of their ability to improve efficiency and embrace the vast set of opportunities emerging from massive (and growing) data resources, advances in computing power, sensors, advanced analytics, and AI. Some great strides have been made in reducing structural costs in both conventional upstream and unconventional projects. But in practice, what are the full range of innovations that have had impact? How much further impact can innovation have on reducing project and operating costs? What is the interplay needed between digital technologies, traditional E&P technologies, and changes in operating models and organizational models to realize these further gains?
The oil and gas industry is witnessing a new era of progress in digital and related technologies that are transforming operational performance and efficiency and creating renewed opportunity to secure sustainable growth. The industry has a history of developing technical and operational innovations that have forged game-changing growth into new segments such as deep water and shale. This panel will explore the prospects for the next game-changers and what they might look like. Which areas of technological progress offer the most promise to become game-changers for the industry? What form of impact might a game-changer have, for example, in unlocking resources, reducing costs, or changing the nature of work? Would we know a game-changer if we saw one? Could a series of incremental gains over time also constitute a game-changer? Is the industry structured to unlock innovations? Which types of players and partnerships would hold the key?