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It’s becoming increasingly evident that digital technology is transforming the oil and gas sector. The industry is being driven by real-time data, cloud computing and the Internet of Things, blending the physical and digital worlds. As a result, the concept of the ‘digital oilfield’ has come into focus. A digital oilfield is an environment where an oil and gas business’ data is automated to increase the speed of workflows and boost performance.
Combining process management with digital technologies, digital oilfields have been designed to overhaul oil and gas systems, and enable full optimisation throughout the supply chain. Research by Global News Wire has shown that the digital oilfield market could grow to $28.61 billion by 2027. There’s no doubt a digital revolution is occurring and it’s set to challenge the conventional model of operations in the oil and gas sector.The role of digital oilfields
The adoption of digital oilfields in the oil and gas sector has been growing due to automation, data analytics and increased connectivity. It’s widely understood that the oil and gas sector has been slow to adapt to new technologies compared to other sectors, but over the past decade, oilfield technology has progressed rapidly, paving the way for a new era for the industry. Oil company Shell was an early adopter of digital oilfields technologies. Digital oilfields have a range of benefits for the oil and gas sector, including using data to track the efficiency of equipment and mapping out the future of production.
Having a digital oilfield could also help oil and gas businesses transition into greener practices. For example, artificial intelligence and predictive analytics can help identify oil spills after or even before they occur, which should help companies minimise damage. By investing in digital oilfield technologies, oil and gas operators can automate maintenance and manage equipment more efficiently while continuing to drive innovation. Digital oilfields have the potential to redefine oil and gas through the creation of a secure, interconnected network. This could pave the way for higher fuel performance and deliver increased value for oil and gas providers.Creating a digital-first oil and gas sector
If oil and gas companies want to remain relevant and competitive in the future, they need to embrace digitalisation. Research by Energy Voice has found that the industry is still grappling with the challenges of COVID-19, low oil prices and the energy transition. Technology and digital oilfields are among the key tools that can help the industry and make sure it’s still profitable in the future. So, how can companies create a sustainable digital environment for their oilfields? Firstly, companies need to take advantage of the range of the IoT management platforms that are available to them. Using such specialised platforms, that connect different disciplines across a business, for example production and asset management, is an excellent way for oil and gas companies to automate the flow of data. .
Creating a truly digital oilfield will drive better insights for oil and gas, and improve the overall quality of the supply chain. Above all, cloud technology and data will provide oil and gas companies an alternative solution to traditional processes and infrastructure. Digital oilfields serve as a remote link across an entire company, making information and data immediately available. The role of technology in oil and gas has become all the more essential and digital oilfields are likely to continue to have a great impact on the sector.How can Petroplan assist your recruitment?
Petroplan is a leading global talent solutions and acquisition partner with a breadth of experience in the oil and gas industry. We have a highly motivated team of consultants who care deeply about building and growing connections with clients and candidates. We recruit on both a permanent and contract basis, matching businesses with the best talent across the globe. We understand the future of the oil and gas industry, so if you would like to find out more about how Petroplan can help with your talent search, contact us today. Also, keep reading our blog for the latest news and articles.
The renewable energy market has experienced unprecedented growth in recent years and it’s set to have a big future, this is largely thanks to the rise of digital technology. According to a report by The International Energy Agency (IEA), renewable energy capacity will grow up to 50% by 2024 – and this growth is mainly being fuelled by solar, wind and hydropower projects. Research has found that renewable energy is expected to take up around 30 per cent of the world’s total energy by 2024. So, with renewable energy expected to power the earth, let’s take a look at the impact technology is having on the market, as well as the most important technological trends in the sector right now.
The rise of Artificial Intelligence
The arrival of artificial intelligence in the renewable energy markets has paved the way for a range of opportunities for leading companies to grow and evolve their processes, to ensure they’re more sustainable than ever before. There’s no doubt that artificial intelligence will have a huge impact on the future of renewables. With the help of AI software, energy storage in facilities, such as office buildings and homes can hold excess energy when demand is low. AI technology can improve renewable energy storage and optimise its use. Therefore, AI has the potential to re-shape the energy sector from an infrastructure-based system to one centred on automated AI technology. There’s a wide range of technologies that use renewable energy spheres, such as energy forecasting and energy accessibility. For example, Google DeepMind – introduced in 2014 – is an AI application that works to improve energy usage and reduce emissions. AI applications can support the renewable energy sector when it comes to integration and help to accelerate the use of clean energy sources worldwide.
As the world’s most popular platform to buy bitcoin, the technology is providing a new level of sophistication to energy suppliers and increasing efficiency as a result. There’s an array of companies that are utilising blockchain for renewable energy. For example, We Power uses a blockchain platform, allowing customers to monitor renewable energy prices, as well as help clean energy producers enter the market. The company explained in a white paper that they believe blockchain and renewable energy has the potential to revolutionise the energy market. Blockchain makes the supply of green energy much more efficient and transparent, as all transactions are traceable and secure. Therefore, renewable energy certification can be delivered much faster, allowing all parties to audit the results. Blockchain, then, is changing the way companies collaborate, as well as how energy is produced and consumed, creating a much more sustainable energy system.
Big data technologies have made a considerable impact on a wide range of industries. In the energy sector, however, oil-field production companies can use big data to streamline operations and manage the day-to-day operations of solar plants more efficiently. With the use of data, companies can dictate how many solar panels and wind turbines to produce and build a better picture of how power is used and when it’s most needed. Big data has become essential because it means energy providers can identify how to store and distribute energy generated from solar panels. Ultimately, big data is changing the models of renewable energy and power generation, while providing energy companies with an in-depth understanding of customer behaviour. As a rapidly evolving market, renewable energy relies on the power of technology to sustain its developments.
How Petroplan can help your business
At Petroplan, we have an excellent team of consultants with many years of experience in recruiting the best professionals for a range of global companies in the energy sector. Since 1976 we have made 1000’s of successful placements and built many valuable partnerships in the Energy industry. Our technology recruitment team has grown to become one of the most successful parts of our business. We’re heavily invested in the renewable energy sector, and our global IT team work hard to keep up-to-date on all the changes in the market. As a leading global talent acquisition and workforce solutions partner, we have specialist expertise, we pride ourselves on our ability to deliver a quality and efficient service. If you would like to know more about how we can assist you acquiring the best talent, contact us today.
The emergence of industry 4.0, also known as the Fourth Industrial Revolution, has been having a huge impact throughout the oil and gas supply chain. Across all industries, digital technology has been revolutionising the entire value chain and changing best practices. In the oil and gas sector, advances in seismic imaging and data analysis is helping to streamline manufacturing and production. With the rise of industry 4.0, technology continues to drive transformation, from downstream to upstream and in other business areas including research and development, and finance. Right now, technology is leading the way in the oil and gas sector so read on for further insights on exactly how Industry 4.0 is re-shaping the oil and gas supply chain.
Digitalisation of the oil and gas industry
Industry 4.0 has accelerated the rise of smart technology, generating new business areas and re-shaping the traditional supply chain. Increased data integration, analytics and information sharing are allowing companies to provide upstream exploration teams with much more meaningful insights, as well as the ability to adjust production levels in real-time, all of which is based on stored data. With digitisation, there’s huge potential for off-field services and businesses to create a much more efficient and effective supply chain. Many oil and gas companies are already using 4D BIM models that map data to analyse changes in oil and gas levels, which can help identify the quality of resources and their lifespan more accurately.
Changes to production
One of the main benefits of the implementation of industry 4.0 in the oil and gas industry is how it’s paving the way for a seamless production chain. There’s now a wide range of Industry 4.0-era production solutions that are creating cross-organisational collaborations and digital efficiency in the supply chain. For example, one of the most notable uses of industry 4.0 technology in recent years is the digital twin – a virtual representation of a physical object. Digital twin technology allows oil and gas professionals to simulate design assets in real-time, providing powerful insights that maximise productivity while reducing the need to mobilise offshore and inspect the model. BP is one oil and gas company that uses a digital twin system, known as APEX, which creates digital copies of all production processes, optimising process considerably.
An integrated supply chain
There’s no doubt industry 4.0 can play a pivotal role in helping oil and gas companies tackle complex challenges along the supply chain. Technologies such as big data will have a positive impact on midstream activities, which includes storage and transportation. For example, with the use of digital technology, oil and gas companies can equip railcars with detectors and sensors to detect any leaks, and monitor any problems in the pipeline’s infrastructure. These new technologies and processes are creating a much more integrated supply chain, with a closer working relationship between each link in the chain. However, there’s much work still to be done to achieve a completely streamlined and efficient supply chain. Technology company Infosys argues in a published white paper that, “Industry 4.0 must be viewed as an enterprise-wide initiative that meets present and future organisational goals.” Oil and gas companies, then, must ensure they have a strategy in place that implements new technologies to achieve the best results. Industry 4.0 is still very much in its infancy, but as long as companies collaborate in the right way, the supply chain will continue to improve and transform.
Are you looking to grow your oil and gas business?
Petroplan is a leading recruitment and workforce solutions agency for the oil and gas industry. Our team of consultants have years of experience in recruiting professionals into energy roles on both a contractual and permanent basis. Our Global IT team has a strong understanding of the oil and gas market and how technology is changing processes and procedures. As a talent and workforce agency, we provide specialised consultancy and we tailor our service to each of our clients. If you would like to know more about how we can assist your recruitment, contact us today to start a conversation.
In recent years, the transition to a low carbon future has shifted from being a topic of debate to a matter of urgency for many companies in the oil and gas sector. There’s an array of European-based fossil fuel companies that have proactively been pushing toward green energy, such as Dutch Shell, BP, Equinor and Total. While it’s likely to be a while before we transition from fossil fuels completely, we have seen more investment in green energy, for example in the form of Vestas Wind Systems – which is the world’s top supplier of wind energy. The oil and gas market is highly volatile, so it makes sense that businesses focus on and embrace renewables. But what can oil and gas companies do to prepare for this transition?
The changing energy landscape
According to We Forum, renewables could power the world by 2050, with various studies showing how different countries can work together to create sustainable energy solutions. Over the years, the standard of living has increased dramatically, which means this has affected the demand for global energy. Oil and gas prices have been in decline since 2014, which was accelerated by the COVID-19 pandemic. This further fuels the argument about the importance of green energy and why companies need to prioritise renewables. Also, renewable energy has become much cheaper than fossil fuels. The cost of solar power projects has fallen by 82% since 2010. Renewable energy projects were once notorious for their high costs, but they’re now below traditional fuels – which demonstrates how much the energy landscape has shifted. Now’s the time for oil and gas companies to adapt to a less carbon-intensive strategy. But how?
Paving the way for the renewable revolution
Many oil and gas companies are moving forward with the renewable energy transformation and there’s a range of different projects on the horizon. For example, BP partnered with Danish energy firm Orsted to launch the Green Hydrogen project, which is expected to be operational in 2024. Comprising of a 50 MW electrolyser system installed in North-West Germany and powered by an Orsted North Sea offshore wind farm, it will be able to produce around 9,000 tons of green hydrogen per year. This project is BP’s first full-scale hydrogen venture and the company could help massively with reducing emissions.
Green hydrogen is created using renewable energy, which is made through electrolysis. Mitsubishi Power and fuel storage company Magnum Development has been working on the Advanced Clean Energy Storage (ACES) project, which is scheduled to be operational by 2025, and it aims to build a storage facility for 1,000 megawatts of clean power. Having large-scale storage space for green energy will help curb the demand and increase the transition to renewables. Investing further into creating a pathway for renewable energy is a great way for oil and gas companies to embrace a green transition.
Protecting the environment
Oil and gas companies will always be needed, but the future lies in renewables. However, it’s not enough for companies to invest in green energy to protect the environment. There needs to be a mindset shift internally. One of the ways oil and gas companies can do this is by redefining their corporate strategy to align more effectively with climate change. For example, ensuring that best practices are applied for mining and drilling projects will help reduce water and environmental impact from production. Businesses also need to build strategies that minimise carbon use, as well as developing a talent attraction framework that showcases oil and gas as a ‘green sector’, in order to inspire the younger generation of workers to join the industry. The oil and gas sector is under increasing pressure to become more sustainable, but with the right investment and strategies, companies in the industry can embrace a green transition.
Let Petroplan help your business
Petroplan is a specialist talent workforce and solutions business that has over 40 years of experience in recruiting the top professionals into roles within the oil, gas and energy industry. We have an outstanding track record of building great relationships with our clients and candidates, and we have a strong understanding of the energy sector, including renewables. We’re always up-to-date on the changes in the industry and are well-placed to advise companies on how to recruit the best talent, in preparation for the changes over the next few years. At Petroplan, our consultants are dedicated to helping businesses develop and grow. Contact us today for more information on how we can help and keep reading our blog for interesting articles and insights.
While it’s hard to predict the future for any industry, the energy sector is going through a massive transformation and will look very different in the years to come. Although many oil, gas and energy companies will continue to produce fossil fuels, research has shown that renewables could overtake coal by 2026, and oil and gas before 2030. But what about the future for the energy workforce? COVID-19 has pushed the industry to embrace digitisation and remote technologies, in the form of robotics, automation and machine learning. Many industries have moved seamlessly into remote working while the energy sector has been forced to retain much of its on-site workers to complete projects. Change is on the horizon for the energy sector, and we explore it in more detail below.
Remote working in the energy sector
For companies in the energy sector, the pivot toward remote working offers professionals a much more flexible way of working that they might be used to. However, there are some immediate challenges that many businesses face when it comes to remote working. Firstly, it’s important that energy companies equip their employees with new digital tools and align expectations across the organisation. This means using data protection policies to ensure GDPR requirements are met, as well as safeguarding the security at the company, which includes emails and passwords. There’s also the challenge of structuring remote work so that employees can balance their time between home and physical locations. With many ongoing projects, there will always be a need for on-site workers, so it’s essential that leaders know how to create a sense of direction around the work, energise employees and empower their teams to keep productive. COVID-19 has made remote working the new norm and it’s likely to be prominent in the working world for the long haul. While global restrictions and lockdowns are set to come to an end, companies still need to protect the well-being of workers and maintain efficiency, particularly as we move into a hybrid work model.
As a result of increasingly remote work, recruitment will be significantly different in the energy sector, so companies will need to reconsider how to attract new employees in this new world of work. It’s now all the more important that companies in the energy sector utilise new technology and hire accordingly because after all, the industry is changing and so should the workforce. Using recruitment strategies such as automated emails to reach top candidates. Email marketing is a great way to personalise the candidate experience and connect with new candidates. Looking ahead, energy companies will face competition from other industries that are more tech-savvy, so investing in technology and trying new strategies is crucial for staying ahead of the curve.
Upskilling the workforce
As we move into the future of work, energy companies need to replenish the skills of their existing workforce. With big data analytics and insights becoming increasingly available, there are plenty of opportunities for energy companies to adapt and evolve the workforce into a highly specialised group of professionals. Upskilling is much more than providing extra training. It’s about transforming and growing individuals by supplying the knowledge, skills, and experience that are most valuable for their roles. Research has shown upskilling can be a transformational force for society and have a massive impact on the economy, so it makes sense from a purely business point of view. In the remote era of work, energy companies should build an upskilling strategy and ensure employees are constantly learning. One of the ways to do this is by clearly communicating the purpose and objectives of upskilling. Whether it’s understanding new technologies or helping employees have a better understanding of renewables, organisational leaders need to lay the foundation and evaluate the results. In this way, energy companies can prepare themselves for the changing world of work.
Let Petroplan help your business
Petroplan is a specialist workforce and talent agency, specialising in the oil, gas and energy sector. We have proven to be a trusted partner of various businesses, helping improve recruitment strategies by sourcing the best candidates. We also recruit professionals into roles within the commercial, technology, renewables sectors, and we also recruit for executive and c-suite roles. Over the years, we’ve established excellent relationships with our clients and candidates, and we pride ourselves on consistently expanding our network. We have a highly experienced team of consultants who fully understand the sectors they recruit into. If you would like to find out more about how to attract the best energy talent, contact us today to discuss the ways we can help.