INNOVATIONS IN DIGITAL TRANSFORMATION

When it comes to the digital transformation of the energy industry, the future is now.  Incorporating Big Data and the Internet of Things (IoT) is playing a role in every aspect of the energy value chain.  From predictive analytics and forecasting to production optimization to preventive maintenance and HSE risk analysis, actionable data helps to improve decision-making and reduce vulnerabilities. The use of real-time and accurate data is already changing the way the industry does business and interacts with its customers.  

This evolution has just begun.  But very quickly, the industry will be defined by those who recognize the value of digitalization, build pioneering solutions and introduce them to the market.

Which is why digital transformation is front and center at the upcoming 23rd World Petroleum Congress Dec. 5-9 in Houston.  Long considered the industry’s most prestigious event, the Congress will host energy leaders who are congregating on a global stage to discuss transformation and innovation. 

During both strategic and technical sessions, government ministers, CEOs and other high-level stakeholders from across the world will address how digitalization presents opportunities to establish new business models and sustainable strategies for producing and delivering energy.

On the first day of the Congress, one of the strategic sessions will highlight best practices and future thinking on how innovation in digital technology is transforming the work environment across the oil and gas industry. Moderated by Åshild Hanne Larsen, Vice President Subsurface Excellence & Digital, Equinor, Norway, panelists include Eric Carre, Executive Vice President, Global Business Lines, Halliburton, USA;  Prabh Das, Managing Director & CEO, HPCL Mittal Energy, India;  Girish Saligram, President & CEO, Weatherford, USA;  and Kirill Tyurdenev, CEO of NIS Gazprom Neft, Serbia.

Separately, as part of the US program, panelists including Lorenzo Simonelli, CEO of Baker Hughes and Barbra Burger, VP Innovation and President, Chevron Technology Ventures, will discuss how the industry has embraced ingenious digitalization strategies to drive commercial value chain optimization with end-to- end visibility and connectivity. The discussion promises an exploration of tangible value creation, and the need to stay flexible in an energy transition economy.

Additional forums throughout the Congress include roundtables on topics including artificial intelligence, blockchain, 3-D seismic, linear program modelling and advanced process control for operations to boost performance to a greater scale than has previously been possible. A number of sessions, including the Impact of Digitalization in the Upstream Sector, will focus on how to stay ahead of the digital revolution, develop in-house capabilities and train and add new skills to the workforce. 

The 23rd World Petroleum Congress is composed of plenary sessions, panels and roundtables.  High-level discussions will be organized around five tracks:  Industry Excellence in Exploration & Production, Industry Excellence in Downstream, Industry Excellence in Industry Innovations, Energy Realities in a Sustainable Future, and People, Society and Governance. Additionally, delegates will be able to attend Industry insights luncheons and numerous networking events. 

An exhibition hall will showcase companies and energy solutions, including the Purposeful Journey, an interactive experience inspired by the Sustainable Development Goals (SDGs) of the United Nations. Also on the exhibition floor, attendees can experience the Innovation Zone by ConocoPhillips, where selected innovators have the opportunity to present their latest solutions.