07.09.2019

How to Harness the Value of Innovation: Digital Transformation in the Oil and Gas Industry

Author: Maana Marketing
How to Harness the Value of Innovation: Digital Transformation in the Oil and Gas Industry

“For digital transformation to be most effective it is critical to have C-level sponsorship, and a prioritized roadmap focused on Return of Investment,” said Asger Klindt, Maana’s General Manager of Customer Operations, while speaking at the IIoT and Digital Solutions for Oil and Gas Conference last month in Amsterdam. Klindt facilitated a brainstorming session where the discussion focused on facing the challenges of digital transformation. “The roadmap has to have both a short and a long-term focus and organizations should be agile and able to adapt during the journey,” adds Klindt. Joining him were fellow facilitator industry professionals from ENI, C3 IoT, Atomiton, FutureOn, and BP. “When factoring in data collection, integrations to existing systems and security, organizations should seek minimal viable products, that may be simple, but repeatable and reusable.”

The brainstorming session allowed conference delegates an open approach for interesting discussions. It was agreed that organizational change management is vital for successful digital transformation including support in the form of education, communication and internal marketing. Notably, there was agreement that organizations need to be ready to take risks to assure digital transition is successful.

Asger Klindt Brainstorm Session Go Digital Oil & GasAs digitalization options appear on the horizon, Klindt was asked about the viability of a ready-made solution touted by some tech providers offering to sell Software as a Service (SaaS). When factoring in the sometimes hefty amount of integration and consultancy that’s required – that direction was dismissed. Klindt said, “I think it would difficult for oil and gas companies to utilize consumer-like SaaS solutions. You’ll always find, that it needs to be integrated into your existing environment whether it’s sensor data or other organizational data you work with. So, you’ll have to find a way to integrate, no matter if it’s done by a vendor, a consultancy company, or the operator self. The ‘trick’ is to have something that can weave in easily into the existing infrastructure through APIs and service integrations. That’s the most important point.”

Reviewing the concept of an enterprise-wide knowledge platform Klindt explained, “Maana is a patented software development platform that enables organizations to reuse algorithms across the enterprise that are directed first and foremost by the people who know best where to focus to find the best answers to the hardest questions. The platform is used to encode the knowledge and know-how of people in the organization and is typically used in an operational decision flow to augment – and not replace – the human decision,” described Klindt. “In these kind of solutions ‘Machine Learning’ is used. Some come out of the box in the platform and some of it is used when building the solutions. To ease integrations into existing systems, Maana uses a specific technology which is GraphQL, which was invented by Facebook in 2012 and has been open source since 2015.”

For one of Maana’s clients – a supermajor, Klindt outlined an example of how Maana implemented a solution where Natural Language Processing was used to crunch historical documents about geological information in basins. The oil and gas data analytic information was extracted, explored and used by the company’s basin screening team to support decision making about whether investments should be made in certain geological basins in the future. Big data like this helps inform present and future use cases.

Finally, the group collectively identified one of the biggest challenges the oil and gas industry currently faces is to attract and retain highly qualified personnel. Suggestions were made to attract younger digital natives by emphasizing the opportunity to have a truly international career; be able to truly make an impact on a company; as well as having the time and monetary compensation to work out new, innovative ideas.

Hear more from Maana’s Asger Klindt in his discussion about oil and gas and the Internet of Things in his recent interview from the IIoT conference at: The Promise of Digitalization.

 

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