It is also described as either sweet or sour depending on the amount of hydrogen sulfide in the reservoir. The primary way to describe the quality of oil is in terms of its sweetness and heaviness. Come and take a virtual 3d tour of our innovation hub. For instance, todays oil and gas companies were developed in a time of resource scarcity. A case study in the oil industry article pdf available in international journal of technology intelligence and planning 82. The dramatic fall in oil prices in late 2014 caught much of the industry by surprise and threatened the commercial viability of many existing oil plays. Innovations in the oil and gas construction industry. The petroleum refining industry invention and innovation.
Innovation and technology transfer in the petroleum exploration. Oil and gas enterprises are investing in a wide range of technologies as they aim to secure their future competitiveness in a fastchanging industrial environment. Oil and gas trends 2019 part of pwc s 22nd annual global ceo survey trends series. Open innovation and application to petroleum industry sciencedirect.
Its one of the most advanced workshop spaces in the country. Naturally, the attention of the industry and the media is focused there. The symphonic enterprise is deloittes ninth examination of the forces that are disrupting and redefining information technology it, business, and society in general. From regional development to global growth 1823 project management in oil and gas industry. The innovation hub is the engine that drives innovation for the oil and gas industry. How to achieve technology innovation in the oil and gas industry many industries have exploited the exciting opportunities to create new products and markets, but the oil and gas sector has lagged behind and has resulted in the oil and gas industry failing to exploit the potential of new technologies.
Canada 2016 hitting a critical juncture in an environment of sustained low prices, high costs, and increasing complexity, the need to innovate has never been so pressing for oil and gas companies. Sintef has been a key research partner ever since oil and gas exploitation began on the norwegian shelf 50 years ago. You get oil out of the ground, turn it into gas and put it in your car. To get at those hardtofind, difficulttodevelop resources, companies greatly expanded the role of their central functionsmandating them to set common standards, make technical design decisions, track companywide metrics, and disseminate best. The industry touches everyones lives with products such as transportation, heating and electricity fuels, asphalt, lubricants, propane, and thousands of petrochemical products from. The combination of physical space and collaborative technology makes it unique and worldleading. From your cell phone to your makeup, to medical devices, credit. Many people dont realize what a hightech, sophisticated industry natural gas and oil is, driving innovation and touching nearly every field and aspect of life that we care about. Mar 15, 2017 the oil and gas industry is cyclical, with boom and bust cycles of high and low prices. Breakthrough innovation and growth explores the impact that innovation has on growth and examines how leading companies are making innovation work for their organisations.
Innovation in oil and gas roland berger strategy consultants government supported research initiative from the late 1970s and 1980s. Today, digital is a key enabler in the oil and gas industry to reduce costs, make faster and better. How to achieve technology innovation in the oil and gas industry. As early as the 1980s, oil and gas companies began to adopt digital technologies, with a focus on better understanding a reservoirs resource. These challenges pose a threat to the basic industry structure. New technological frontiers in the oil and gas industry. Disruptive innovation is changing the face of the oil and gas industry at an unprecedented pace and scale, write eduard gracia and sean wheeler, respectively principal and partner at a. We have expertise across the entire value chain, from exploration to production and the storage of co2.
The industry touches everyones lives with products such as transportation, heating and electricity fuels, asphalt, lubricants, propane, and thousands of petrochemical products from carpets to eyeglasses to clothing. The event will analyse key challenges and opportunities facing the industry with focus on iot, ai, machine learning, blockchain, energy transition, data analytics, cyber security and many other aspects of digital transformation. Technological innovation creates new opportunities in oil. While the headlines can be dominated by 3d printings use in aircrafts and deep space, theres been revolutionary use of the technology deep underground and in our oceans. New challenges emerge almost daily yet theres a tendency to address them using techniques and technologies of the past. Energy innovation doesnt stop when oil prices are low. White paper digital transformation initiative oil and gas. The reliance on owned companies distinguishes foreign the elements of infant industry protection in the buildup of the norwegian oil and gas industry from other countries experiences. The oil and gas industry is cyclical, with boom and bust cycles of high and low prices. Research and innovation for the oil and gas industry sintef. Technological innovation creates new opportunities in oil and gas. Today, digital is a key enabler in oil and gas to reduce costs, make faster and better decisions, and to increase workforce productivity. For companies in the oil and gas industry, its a time of great change and opportunity.
The production of knowledge relevant to oil and gas innovations. Create a culture of innovation in the oil and gas industry. Aug 16, 2017 jeff thomson, president and ceo of ima discusses innovation in the oil and gas industry with stuart spence, cfo of mcdermott international, inc. Examples set by digital disrupters compel oil and gas leaders to look for innovative strategies and new business models. When business cycles turn, cyclical industries can struggle to retool their organizations for the new environment. Sintef is the largest independent research institute in scandinavia. But, is the innovation imperative widely embraced as a reality within the oil and gas industry or is it still up for. As early as the 1980s, oil and gas companies began to adopt digital technologies, with a focus on better understanding a reservoirs resource and production potential, improving health and safety. Companies in the technology sector must address the risks and disruptive potential of their products and services. Jeff thomson, president and ceo of ima discusses innovation in the oil and gas industry with stuart spence, cfo of mcdermott international, inc.
Analytic innovations address ew challenges in the oil and gas industry introduction the worlds energy industry is at a crossroads. Norwegian oil and gas industry 37% is much lower than the share of foreign ownership among suppliers just above 50%. This is double the amount from 2014, and opens the discussion about the role of innovation in todays oil and gas industries. Oil exploration and production authority oepa, ministry of. Technologies like downhole cameras, advanced drill bits and new software made the evolution of horizontal drilling possible.
Innovation is changing the face of the oil and gas industry. Strategies for oil and gas companies to remain competitive in. Its one sector where process innovation has a dramatic impact on not just the. As supply increases and oil prices rise, volatility will continue to drive strategy. Innovation and sustainable economic competitive advantage. The production restraint agreement between the opec and nonopec vienna agreement countries is still in place, preserving spare production capacityif. The history of hydraulic fracturing innovation stretches back over 80 years. How to achieve technology innovation in the oil and gas. According to the oil and gas technology radar report prepared by lloyds register energy, 47% of executives claim they have fallen short of their innovation goals. Jan 30, 2018 the oil and gas industry should be afforded exactly the same competitive edge, not confined by their own data centers. The note first provides background information on industry financial performance, the role of opec, and the problems oilproducing nations have had in capitalizing on their resource wealth i. Technological advances have constantly shaped and reshaped every stage of the industry, from exploration right through to final usage.
Second, we go on to display the private drivers of innovation in upstream oil and gas. Sep 07, 2011 the oil and gas business never changes. Pdf supply chain innovations in the oil and gas industry. Digital transformation and innovation in oil and gas. These tests give insight regarding the performance and life expectancy of a seal in various oil and gas applications. Introduction the power sectors growing gas problem as the window of opportunity to prevent catastrophic climate change narrows, natural gas has been lauded by many in the fossil fuel industry as a bridge from highcarbon coal to a lowcarbon future. Characteristics of the norwegian oil and gas innovation system. Oil industry is heavily innovation driven due to its costoriented nature. Strategic planning for the oil and gas industry edinburgh business school vii 7. To assure the innovative ideas can be turned into products and services to grow the competitiveness and jobs.
Digital transformation and innovation in oil and gas sector. Innovation is critical to respond to industry challenges. Oil and gas industry has a strong record in technology development and innovation. The reliance on owned companies distinguishes foreign the elements of infant industry protection in the buildup of the norwegian oil and gas. For oil and gas industry, innovation is crucial to survival. The oil and gas industry is no stranger to big data, technology and digital innovation. To look at a new regime for innovation and technology transfer in sudan oil and gas industry.
This pdf is a selection from an outofprint volume from the national bureau of economic research. Pdf organizations in the oil and gas industry often deal with a variety of logistic challenges. Strategies for oil and gas companies to remain competitive. Industry forces and digital innovations are reshaping the oil and gas industry. The note first provides background information on industry financial performance, the role of opec, and the problems oil producing nations have had in capitalizing on their resource wealth i. Over the last decade, innovation has dramatically changed the nature of both supply and demand forces shaping the oil and gas sector. Developed by the norwegian petroleum industry, norsok m710 specifies standards for rapid gas decompression rgd, also known as explosive decompression ed, and sour gas h 2 s aging on elastomers and thermoplastics. Analytic innovations address new challenges in the oil and. We have 2,000 employees from more than 70 countries, with international toplevel expertise in science and technology, medicine and the social sciences. Invention and innovation in the petroleum refining industry. Research and innovation for the oil and gas industry. We have expertise across the entire value chain, from exploration to production and the storage of co 2. Sintef is an independent, nonprofit organisation that reinvests. Reflection seismography, which first revolutionized petroleum exploration in the 1920s, prompted oilfield discoveries worldwide and filled billions of barrels of oil.
The oil industry, like the consumer products and aerospace and defense industries before it, has hit a tipping point. Technology innovation in upstream oil and gas spe aberdeen. The oil and gas industry, historically, has been fueled by innovation. Industry giants such as royal dutch shell plc, chevron corporation, exxon mobil corporation and sasol are already here. Innovation and technology transfer in the petroleum. Canadas oil sands innovation alliance cosia is an allian ce of oil sands p rodu ers focused on imp oving environmental per ormance in canadas oil sands.
This report presents an indepth analysis of the innovation system in upstream oil and gas sector in. To get at those hardtofind, difficulttodevelop resources, companies greatly expanded the role of their central functionsmandating them to set common standards, make technical design. The oil and gas industry is one of the largest, most complex, and most important global industries. The role of innovative decisions in the development of oil and gas. Fluid catalytic cracking, discovered in 1937, served to advance refining and still produces most of. Sintef has a strong position in developing and tailoring energy. The oil and gas industry is a pioneer in the use of supercomputers. If a reservoir contains both oil and gas, the gas it contains is called associated gas. Canada is an ideal destination for oil and gas companies.
To institute an intelligent, sustainable and competitive economy through involvement of all the actors in the innovation cycle. When gas is refined, leaving mostly methane, it is called dry gas. Healthy commercial crude oil inventories in oecd countries, standing at 2. Oil and gas industry a new era for the oil and gas industry the oil and gas industry is no stranger to big data, technology and digital innovation. Desalinating sea water to meet the water requirements of a petrochemical complex jubail, saudi arabia in the 1970s, the saudi government developed the two industrial cities of jubail and yanbu. Inputs from executives of the oil and gas industry in the research co uld prove more helpful to the ongoing research in this field. The oil and gas sector has, from its outset, always been wide open to innovation and every kind of modern technology. This industry note examines the oil and gas industry. The oil and gas industry should be afforded exactly the same competitive edge, not confined by their own data centers. Thus, in the oil and gas industry, process innovations will. Solid biomass coal oil gas nuclear renewables 3 oil and gas trends 2019 part of. The survey grouped the technologies into two categories. The oil and gas found in the ground come in different grades or qualities.
The industry pulls back on investment during the low price periods. We are a highly costeffective resource for finding new technologies that improve operational efficiencies and enhance profitability. Oil and gas sector activities canadas advantages a wealth of opportunities 1 natural resources canada. When advances such as digital reality, cognitive, cloud computing, and blockchainto name just a fewwork in. Canadas oil and gas industry is a global innov ator in equipment supporting the explor tion, extraction, and processing of hydrocarbon reserves both onshore and offshore.
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