Digital Transition

Digitalization is shrouded in buzzwords and technical jargon. Learn how to navigate the jungle of digitalization and pinpoint the value creating applications with Rystad Energy.

The energy sector is increasingly embracing the digital transformation, enabled through rapid advancements in data storage, processing capacity, sensor technology and connectivity. Digitalization holds the potential to transform the industry through incremental efficiency improvements, but also through the transformation of business models and value chains.

Unfortunately, digitalization is also an area full of buzzwords, failed or misunderstood initiatives, non-value creating applications and tribal lingo. Which leads to many industry players struggling to navigate this jungle of buzzwords – from deep learning and data platforms to digital worker, smart maintenance and system integration.

We at Rystad Energy have extensive experience in understanding what works and creates value in the energy sector, and what does not. Through our industry knowledge we are able to quickly recognize the potential of new technologies and how they might fit into the current ecosystem, and understand their inherent market potential.

Digitalization continues to disrupt industries, and the energy industry is no exception. Be sure to maintain the necessary competitive edge and be the disruptor, rather than the disrupted.

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Digital technology is not new to the energy sector. Especially within oil and gas subsurface, the industry has been at the forefront of digital applications for decades, employing advanced modelling, analytics and visualization tools for seismic and well-level data.

Rystad Energy's consulting services, originating in Norway, has its roots in one of the digital frontiers of the upstream oil and gas industry, and has over the years supported numerous clients in engagements related to:

Digitalization roadmaps
Technology screening
Technology due diligence
Digital application assessments
Organization – technology integration

As many of the digital challenges are similar across the energy sector, Rystad Energy is also well equipped to support clients in other parts of the energy value chain, not confined to oil and gas. We normally address these digital challenges through our digitalization framework, made up of three main pillars:

Organization

Commitment must be rooted at C-level management
The entire organization must understand the benefits of digitalization

Value creation

Attention to the long term value potential of digitalization
Focus on easy wins first to prove the digital value and ensure continuity
Digital initiatives are facilitating for sustainable, safe and efficient operations

Data

The quality, structure and reliability of the underlying data is crucial for digital transformation
Missing, misleading, wrong or inconsistent data can lead to wrong conclusion of the piloted initiatives

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