Time to Address Digital Transformation Challenges in the Oil and Gas Sector

Companies and organizations are working collaborate to address the issues related to digital transformation in the oil and gas sector. Moreover, to address these digital transformation challenges, companies are focusing on updating their system and incorporate the optimized technologies in the integrated system.

Digital Transformation Challenges in the Oil and Gas Sector

For instance, Doris Group, Schneider Electric, and Aveva have collaborated to create digital twin technology to rectify the challenges present in the current oil and gas sector. These companies are aimed to provide the digital twin technology to the upstream oil and gas markets, along with the updated offerings to enhance increase sustainability, maximize return, and asset performance on capital projects.

Additionally, the offering from these three companies is focused on bringing digital specialization, engineering capabilities, and asset lifecycle software offering to create a digital twin for the application to improve performance for the upstream sector further.

The new offerings are focused on:

•    Bring new assets on stream faster using cloud-enabled software to improve collaboration and increases engineering efficiencies
•    Deliver enhanced safety leading to better business outcomes
•    Improve traceability through a single point of accountability
•    Enable remote operations and production assurance through a digital twin that mirrors all aspects of the operating asset

According to the companies, the digital, collaborative, and structured products across the lifecycle of projects will assist oil & gas organizations discourse-new. Legal challenges such as sifting through the massive amounts of data types are carried out from different sources, which further often leads to data incompatibility and inaccuracy. In addition to problems establishing that data and identifying trends; and help companies track, quantify, and, ultimately, reduce CO2 emissions and overall pollution, which can be even more difficult with limited monitoring capabilities and no data-driven decision making.

“Companies common aim is to support other companies on their digital future, especially in the current tough environment and assisting them to accelerate the use of digital technology through realize the value of a digital twin, and also work towards a more sustainable digital future” – CEO at Aveva.

It’s never been easier to begin a digital transformation program in this severe pandemic, in which the demand is highly effective, and implementing new techniques may add extra operational cost to the company’s portfolio. Moreover, the ability to access cloud computing with excellent connectivity and a merged edge and enterprise combined with analytics and machine learning, means that the ability to drive productivity improvements into the industrial world digitally is now unprecedented. Such factors and focus towards the development of the oil and gas sector through meet the digital transformation challenges.