Backbone of energy supply

The volatile oil price and especially the drop from significantly over 100 $ per barrel to under 40 $ is an enormous challenge for the industry. Result is an increased focus on reduced CAPEX and OPEX to enable profitability in production, transportation and processing of oil and gas. Depleting oil fields for example need 4 to 5% of production to be replaced every year. It is clear that the money for the required investments must be earned in the markets.

The digital transformation has started to revolutionize the oil and gas industry. More automation and intelligence can create significant efficiency gains and improved safety in all steps of the oil and gas value chain and for all phases of a project. Making big data to smart data is the message. The industry asks for the right expertise in this process of integrating the digital and the real world and for the expedient IT-tools. 

The oil and gas industry requires proven solutions for safe operations. Standardization along global operations, pre-fabricated and pre-tested plug and play solutions from a single source as well as modularized concepts are strategies to mitigate project risks. Oil and gas projects are becoming increasingly complex, calling for an integrated approach. Exchanging technologies, creating partnerships between technology provider, EPC and operator, and thus intensifying collaborations can help to develop the best fitting technical solution and streamline project execution – from start to finish.