Sharing data: The key to building a connected data ecosystem in oil and gas
Posted: October 5, 2023
An interview with AVEVA Oil and Gas Industry Principal, Stan Devries.
The future of oil and gas is a connected one. In the face of unprecedented market volatility and new challenges stemming from supply-chain disruption, geopolitical upheaval, and general economic uncertainties, the industry is increasingly looking for stability and resiliency. This stability and resiliency relies upon an industrial connected data ecosystem. With its capacity to seamlessly bring together stakeholders from across the sector, a connected data ecosystem has clear benefits for oil and gas companies: increased collaboration, enhanced decision-making, and optimized efficiency.
However, the transition to a connected data ecosystem requires the right strategy and technology. There are country-specific regulations to wrestle with and contractual obligations to sort out. And there is the most important question: how to begin? Daniel Gaeta sat down with Stan Devries, AVEVA Oil and Gas Industry Principal, to discuss some of the most pressing issues in relation to the adoption of the connected data ecosystem.
The resilience of a connected data ecosystem
Q: What is the importance of having a connected data ecosystem for “resiliency” in the oil and gas industry?
A: Resiliency depends upon specialists and managers becoming aware of value chain “shocks,” both desired and undesired, which can occur inside and outside their enterprise. Specialists must provide timely, trustworthy and effective support for multiple sites, and they must use the broader context of similar performance patterns to effectively assist others.
Q: What is the importance of having a connected data ecosystem for managing the specialist turnover in new centers of excellence or remote working?
A: The highly experienced specialists, some of whom are also managers, are “reacting well” to consistently achieve high performance. But many of them are leaving the industry, including retiring, at an accelerated rate. And much of the younger talent does not want to live near a site or work long hours there. Therefore, the oil and gas industry must minimize the performance risk of handling the turnover by establishing virtual and physical centers of excellence that are more attractive for new talent.
The keys to implementing an effective data ecosystem
Q: What obstacles do companies in the oil and gas industry typically encounter when it comes to sharing data externally? How can companies overcome these challenges to share data successfully across their ecosystems?
A: Many contracts in the supply chains and value chains do not specify digital data exchange or even real-time or event-driven exchanges. Even if digital exchanges are permitted, these must be curated and dynamically filtered to minimize exposure to data which affect company valuation and allow simultaneous competitors to access curated data without exposing the company and its competitors’ data. At the national level, there are several countries which prohibit cloud hosting or exporting of data outside of their borders. Companies can overcome these challenges by using a combination of “system of systems” and “real-time information management” methods to comply with contracts, enterprise policies and host-nation regulations.
Q: For companies looking to establish their data ecosystems, what would be the recommended entry point? How can they start building a robust framework for sharing data both within and outside the organization?
A: Some recommended methods include applying robust, real-time information management, designing a holistic combination of work improvements, culture change and technology refreshes, and implementing the “journey” as a program with multiple phases. All of these actions help companies avoid “analysis paralysis,” solution abandonment, and unacceptably long program schedules.
The accelerating future of oil and gas data
Q: As we peer into the future, what is your perspective on the evolution of the oil and gas industry? How do you envision data sharing and interconnectedness shaping its trajectory?
A: The oil and gas industry is accelerating its adoption of proactive, prescriptive and adaptive information across value chains and supply chains. The upstream segment has been applying this successfully for 20 years; several national energy companies have been applying this at speed and scale for more than six years.
How can connecting your data ecosystem empower new potential for the oil and gas industry?
Create new value with your industrial data ecosystem for oil and gas
As Stan highlights, oil and gas companies can benefit from increased stability and resiliency by building a connected data ecosystem.
CONNECT is the secure foundation of your own oil and gas data ecosystem, enabling you to collaborate in real time with remote stakeholders. It's a fully managed cloud solution that's easy to scale without the need for extra IT resources, providing oil and gas companies with the right tools to create data-sharing communities that increase operational efficiency, sustainability and digital transformation.
To learn more about the opportunities to connect your data ecosystem, read my white paper, “The information-sharing ecosystem: Why real-time data-sharing is critical for oil and gas.”
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