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Latest news - Digitalisation

Robots Take Over Oil Trade And OPEC Is Scared To Death

Robots Take Over Oil Trade And OPEC Is Scared To Death   Artificial intelligence has been making inroads into the oil and gas industry for a while now after the industry realized all the benefits it could reap from the deployment of these technologies. Now, it has begun changing oil and gas trading as well. First of all, it bears noting the term artificial intelligence has developed into an umbrella term for a host of predictive and analytical technologies that are a far cry from t...

Ziyen Inc. launches world's first SEC compliant oil and energy cryptocurrency

Ziyen Inc. launches world's first SEC compliant oil and energy cryptocurrency   Scottish-American company Ziyen Inc. has announced the launch of a digital currency that it hopes will revolutionise the global oil and energy market. Based on blockchain technology, ZiyenCoin is the first energy-focused security token offering (STO) to be filed under U.S. Securities and Exchange Commission (SEC) regulations. It enables the instant transfer of payments between institutional accounts...

ABB showcases digital transformation at Hannover Messe

ABB showcases digital transformation at Hannover Messe   At this year’s Hannover Messe, ABB will provide a glimpse into the groundbreaking collaboration and digitalization technologies that are at the heart of its transformation as a leader focused in digital industries. The new ABB is streamlined into four entrepreneurial businesses offering innovative solutions in Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. Each business is a leader...

Extending the life of the UK North Sea through advanced data technology – By Dan Brown, Executive Director, Common Data Access (CDA)

Extending the life of the UK North Sea through advanced data technology – By Dan Brown, Executive Director, Common Data Access (CDA)   Technology is key to helping us fulfil the industry’s ambition to add another generation of production – an ambition outlined in Vision 2035 and advances in data management analysis techniques are helping us work towards this objective. Production of the remaining resources – estimated at between 10-20 billion barrels of oil...

Oceaneering’s TAXI™ Digital Radiography Solution to Provide Significant Cost Savings

Oceaneering’s TAXI™ Digital Radiography Solution to Provide Significant Cost Savings   20 March 2019, Aberdeen, UK: – Oceaneering International, Inc. (“Oceaneering”) has launched a new digital radiography solution for the oil and gas sector, the Trip Avoidance X-ray Inspection (TAXI™) system, aimed at reducing the number of unplanned shutdowns. Recognised at the SPE Offshore Achievement Awards’ “Innovator” category, the TAXI&tra...

Simulator facility helps develop human factors and boost safety for the oil and gas industry

Simulator facility helps develop human factors and boost safety for the oil and gas industry   Significant investment in a state-of-the-art simulator training facility is helping to boost skills and improve safety across the Norwegian oil and gas industry. Over the past seven years, Fagskolen i Hordaland, which is located in Bergen city centre, has trained hundreds of students and oil and gas industry professionals in drilling and well control operations at its bespoke simulator fa...

Big Oil Has Finally Joined The Digital Revolution

Big Oil Has Finally Joined The Digital Revolution   The oil price crash of 2014 and the global ‘digitalization and disruption’ drive coincided in a rather bizarre way to push the oil industry to seek cost cuts through innovation and new technologies. Big Tech was only too pleased to help Big Oil, seeing a new revenue stream in an industry long thought to be of the ‘dinosaur’ type that was too slow to embrace new ways of doing things.   Not anymore. M...

Emerson and Repsol to Form Alliance on Advanced, Cloud-based Exploration and Development Software

Emerson and Repsol to Form Alliance on Advanced, Cloud-based Exploration and Development Software   Global industry leaders collaborate to help energy producers execute digital transformation, achieve fastest first oil with leading subsurface technologies Emerson, a global engineering and technology company, and Repsol, an energy company, announced today they have established a strategic alliance to deliver advanced subsurface geophysical technologies to significantly reduce the ti...

World’s first live video broadcast from underwater uses Sonardyne’s BlueComm

World’s first live video broadcast from underwater uses Sonardyne’s BlueComm   Pioneering subsea communications technology from Sonardyne International Ltd. has been used to stream the first live broadcast to global audiences from an underwater submersible. International news agency Associated Press (AP) used Sonardyne’s BlueComm wireless through-water optical modem technology for the live broadcast from a two-person submersible operating in waters off the Seychel...

Virtual reality provides springboard for rebounding offshore capital

Virtual reality provides springboard for rebounding offshore capital   Digitalization has emerged as a powerful lever for helping oil and gas operators reduce costs and improve efficiencies amid the low-price environment. This is particularly the case in the offshore sector, where long development cycles, high capex and opex, and added safety risks present unique challenges that are often not encountered in onshore projects. As this article will discuss, applying technologies that req...

BP invests $5m in AI firm as it looks to technology to boost its exploration activities

BP invests $5m in AI firm as it looks to technology to boost its exploration activities   BP’s venture capital division has invested $5m in an artificial intelligence firm in a bid to bolster its “digital capabilities” for its activities around oil and natural gas exploration. The oil and gas giant’s specialist venture capital fund set up in 2004, BP Ventures, made the investment in a series A round for Belmont Technology, a Houston-based artificial intelli...

PermianChain Technologies launches its blockchain-based oil and gas trading and investment platform

PermianChain Technologies launches its blockchain-based oil and gas trading and investment platform   PermianChain Technologies has launched the prototype of its platform for trading potential oil and gas reserves that have yet to be developed. PermianChain’s blockchain-based approach will make it easier to put a value on reserves before they have been produced, enhancing efficiency and improving understanding of a project’s viability. PermianChain has been designed to...

Quantum computing comes to energy with ExxonMobil IBM partnership

Quantum computing comes to energy with ExxonMobil IBM partnership   ExxonMobil has become the first energy company to join IBM to work on using quantum computing in its energy and manufacturing technologies. The plan is that quantum computing will help the American oil and gas company solve computationally challenging problems such as optimising a country’s power grid. It could also help in the discovery of new materials for better carbon capture, using better predictive e...

Oil And Gas Digital Investment Is Surging But Progress Remains Slow

Oil And Gas Digital Investment Is Surging But Progress Remains Slow   Global oil and gas executives are preparing to accelerate investment in digital technologies, primarily with an objective of doubling down on their cost-saving ambitions, as the market volatility of 2018 spills over into 2019, fresh market evidence suggests. The third quarter of last year saw Brent futures touch levels as high as $85 per barrel. But the very next quarter ensured the year ended on a firmly bearish...

Advisian Digital and Aurora Labs unveil 3D printing solution

Advisian Digital and Aurora Labs unveil 3D printing solution   Perth, Australia, 10 January 2019: Advisian Digital, the data science, software and technology business of the WorleyParsons Group, and Aurora Labs, the industrial 3D printing (3DP) technology company, have launched AdditiveNow, an additive manufacturing (3DP) solution centre for the oil, gas, resources and major infrastructure sectors. The joint venture offers companies the ability to transform how parts are created an...

BP Unlocks One Billion Barrels In Gulf Of Mexico With New Tech

BP Unlocks One Billion Barrels In Gulf Of Mexico With New Tech   Earlier this decade, BP and the Gulf of Mexico was an awkward and uneasy collocation for the UK oil supermajor after the 2010 Deepwater Horizon disaster. Nearly a decade and more than US$60 billion in damages paid later, BP has now turned the corner in its U.S. Gulf of Mexico operations and plans for significant production and project expansion into the next decade. BP’s two key pillars of growth are raising...

Oil and gas giants Chevron and Occidental are backing tech to combat carbon emissions

Oil and gas giants Chevron and Occidental are backing tech to combat carbon emissions   Carbon Engineering, a Canadian company developing technology to remove carbon dioxide from the atmosphere and process it for use in enhanced oil recovery or in the creation of new synthetic fuels, has locked in financing from two big industry backers — Chevron and Occidental Petroleum — to bring its products to market. The undisclosed amount of capital Carbon Engineering raised from...

Oil and gas digital investment set to surge as efficiency drive intensifies

Oil and gas digital investment set to surge as efficiency drive intensifies   89% of organizations surveyed say their investment in digital will increase over the next two years 42% cite efficiency as the main investment driver after years of oil price volatility Respondents allocate just 17% of their digital spend to in-house capabilities Global oil and gas executives are preparing to accelerate their investment in digital technologies, primarily as they seek to double do...

TechX - Pioneering and Accelerating into 2019

TechX - Pioneering and Accelerating into 2019   David Millar, Director TechX Programme - The Oil & Gas Technology Centre With just under a month left to apply for this year’s cohort of our technology accelerator programme, TechX Pioneers, it’s a great time for us to celebrate the successes of the class of 2018, as well as look forward to the opportunities lying ahead. In March last year we whittled down over 125 international applications to just 10 start-ups tha...

Digital operations support centres help boost production

Digital operations support centres help boost production   In just a few months the support centres established to help create higher value, improve safety and reduce emissions from Equinor’s installations on the Norwegian continental shelf (NCS) have led to good results from the first onshore-supported fields. Today, 7 January 2019, two centres will be formally opened at Sandsli in Bergen by the petroleum and energy minister, Kjell-Børge Freiberg. Equinor has set a...
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