Efficient production, transportation and processing. Oil and gas will remain the backbone of the global energy supply for decades to come. The importance of natural gas, the cleanest fossil energy resource, will grow. Proven reserves are increasing, thanks to deep-sea exploration and unconventional resources.
Smart technologies and advanced solutions are required
The oil price environment is forcing major change and difficult decisions within the Oil & Gas industry. Existing operating models are being challenged and new approaches are being sought to respond to market supply and demand dynamics, environmental concerns, and the high costs associated with developing unconventional resources. These challenges are driving industry actors to search for technological innovation to keep costs low, while bolstering safety, increasing reliability, and driving efficiency – from drilling pad to refinery. Sustainability is a matter of leveraging the right technology, one that will help improve a company’s CAPEX and OPEX, as well as its environmental and safety performance.
Focus on CAPEX and OPEX reduction
The volatile oil price and especially the drop from well over $100 per barrel to under $40 presents an enormous challenge for the industry. The 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 necessary investments must be earned in the markets.
Automation and digitalization gain ground
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. Turning big data into smart data is the message. The industry is seeking the right expertise in this process of integrating the digital and real worlds and for the expedient IT tools.
Standardization, modularization, and cooperation
Safe operations require proven solutions. 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. Increasingly complex oil and gas projects call for an integrated approach. Exchanging technologies, creating partnerships between technology provider, EPC and operator, and thus intensifying collaboration can help find the best technical solution and streamline project execution – from start to finish.
Made to measure
Reliable and efficient solutions to maximize success
Siemens aims to be the leading provider of electrical, rotating equipment and process automation in the Oil & Gas industry with reliable best-in-class products, solutions and services. It has the largest mission critical portfolio in the industry, offering a dependable range of products, solutions and services for a variety of applications along the entire O&G value chain. The company’s global footprint allows it to be present everywhere its customers need it. Through technologies and solutions that help improve safety and security, increase productivity, and maximize capital efficiency, Siemens can offer companies the cost savings they need to drive success in a low oil price environment.
Ivar Aasen production platform
Integrated solution packages for EICT
High efficient plant management by digital oilfield concept
Enhanced oil recovery based on produced water reinjection
Improvements needed all along the energy conversion chain
In order to meet the challenges of a sustainable energy system, measures have to be taken all along the energy conversion chain from the utilization of fossil resources to power generation and transportation, and to improvements in consumption.
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