Government Energy Policy, Business and Technology

OTC: Industry's next data-disruption phase to be people-driven

Oil & Gas Journal: The oil and gas industry is seeing incremental gains in the first phase of digital technology adoption, but the biggest disruption is yet to come. That change will be people-driven and will require collaboration, panelists said during a May 2 session at the Offshore Technology Conference in Houston.

The industry has looked to Big Data as one way to cut costs in recent years, and data analytics for such use will continue. Year-over-year, said Preston Cody, head of analytics solutions at Wood Mackenzie, the firm has tracked “some pretty dramatic cost savings,” made by industry. While a portion is attributed to high-grading and other factors, digital technology has played a role in doing more with less. Working with an expected structural cost savings of 10% from digital technology adoption, Cody said, the industry could see a savings of $150 billion/year in value delivered.

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