scholarly journals INFLUENCE OF DIGITAL TECHNOLOGIES ON CAPITALIZATION OF OIL AND GAS BUSINESS

2020 ◽  
Vol 4 (34) ◽  
pp. 66-71
Author(s):  
O.E. Malykh ◽  
◽  
Yu.V. Khodkovskaya ◽  
Keyword(s):  
Financial Management ◽  
Oil And Gas ◽  
Action Plan ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Integrated Approach ◽  
Digital Transformation ◽  
Gas Industry ◽  
Additional Advantage ◽  
The Impact

The problems of global economic growth are largely due to factors in the dynamics of the oil and gas sector. New requirements for the quality, quantity and timing of the supply of hydrocarbons create opportunities for the development and increase of the efficiency of the oil and gas business, including the growth of its capitalization. For the oil and gas industry, the digital transformation goes beyond the tactical use of technology, the business model is being transformed by accelerating the spread of innovation and the constant growth of practical efficiency, which significantly changes strategic guidelines. The article presents an analysis of the impact of digital technology on the financial aspects of the oil and gas business. The objective obstacles to its digitalization are described, which can form the basis for developing recommendations for promoting digital technologies in this segment of the economy. The advancement of scientific and technological progress and the automation of many stages of production processes are factors in the possible growth in the capitalization of the oil and gas business. Studies have shown that existing technologies are not always able to facilitate this process. Underfunding of the information and computing infrastructure of companies can become a serious problem on the way to strengthening the financial component of the oil and gas business. In the Russian oil and gas industry, the use of additional digital platforms and innovations is an additional advantage for increasing operating profit. The article discusses the cybersecurity of the oil and gas business based on an integrated approach and the implementation of all aspects of the oil and gas company: information, organizational and technological. A group of cyber defense tools is proposed. A new model of the digital transformation of oil and gas companies is proposed to formulate an action plan for the use of digital technologies, to solve tactical problems and strategic goals of the oil and gas business, to ensure its capitalization growth. It is shown that business capitalization under the influence of digital technologies allows the oil and gas industry to implement the latest achievements in the field of cloud computing, digitalization of oil fields, service-oriented architectures and industrialization, significantly expanding the possibilities of corporate financial management.

Implementing Cognitive Procurement and its Influence on Supply Chain During the Era of Digital Transformation in Oil and Gas Industry 4.0

2021 ◽  
Author(s):  
Manoj Kannankutty ◽  
Aditya Manoj Menon
Keyword(s):  
Supply Chain ◽  
Industry 4.0 ◽  
Online Survey ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Loop Model ◽  
Human Machine Interaction ◽  
Gas Industry ◽  
The Impact

Abstract The digital transformation is key for every oil and gas organization to implement its fourth industrial revolution (Industry 4.0). Digital transformation in procurement uses artificial intelligence, big data, market intelligence, etc. to create self-learning systems; for the procurement of goods and services. This is also known as cognitive procurement or procurement 4.0. The objective of this paper is to examine the methods of implementing cognitive procurement, the impact it creates in the procurement life cycle, and in the supply chain. The paper also provides insight into three governance models of human-machine interaction that is implemented in stages based on procurement requirement and technology adoption maturity of the organization.Human-in-the-loop modelHuman on-the-loop modelHuman out-of-loop model The data for this study is obtained by preparing a list of relevant questions from multiple sources. An online survey questionnaire is sent to the procurement professionals in different organizations in the oil and gas industry. The questions reveal procurement expert's responses for:Potential challenges for the digital transformation in procurement and supply chain.Methods of enabling technologies to leverage procurement procedures and processes. The results and the observations of the study are used to measure the benefits of implementing cognitive procurement in the oil and gas industry 4.0. The new transformed roles of procurement for industry 4.0 are also discussed in the conclusion, which includes:Daily activitiesProcurement decision-making activitiesStrategic SourcingProcurement to drive organizational profitability, effectiveness and efficiency The paper will benefit oil and gas organizations that are planning to implement cognitive procurement as part of the digital transformation. The paper will also benefit any parties interested in understanding more about cognitive procurement.

State regulation of the introduction of digital technologies in the oil and gas complex of Russia

2019 ◽  
pp. 25-33
Author(s):  
Zhanna Mingaleva ◽  
Elizaveta Sevidova
Keyword(s):  
Government Regulation ◽  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
State Regulation ◽  
Digital Transformation ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
The Government

Using digital technologies for the oil and gas production requires the organization of a generalized network of wireless interaction of components, continuous data collection from various sensors and sensors, the collection and exchange of information in order to detect complex events and critical moments, their analysis and detailed description based on the situation. However, the digitization of basic technological processes and operations in the Russian oil and gas complex is proceeding more slowly than in many other areas of production. Government assistance can stimulate the process of digitization of the oil and gas industry. The government authorities form and develop a regulatory framework in the field of and digital transformation of oil and gas production. This article presents a scheme of government regulation for the digital transformation of oil and gas production.

Consideration of Geopolitical Challenges within the Analysis of Geoenvironmental Risks for Oil and Gas Development of the Russian Arctic

2019 ◽  
Vol 16 (6) ◽  
pp. 50-59
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Optimal Operation ◽  
The Arctic ◽  
Stage Model ◽  
Oil And Gas Development ◽  
Gas Industry ◽  
The Impact ◽  
Further Development ◽  
Geopolitical Risks

The article is devoted to the consideration of geopolitical challenges for the analysis of geoenvironmental risks (GERs) in the hydrocarbon development of the Arctic territory. Geopolitical risks (GPRs), like GERs, can be transformed into opposite external environment factors of oil and gas industry facilities in the form of additional opportunities or threats, which the authors identify in detail for each type of risk. This is necessary for further development of methodological base of expert methods for GER management in the context of the implementational proposed two-stage model of the GER analysis taking to account GPR for the improvement of effectiveness making decisions to ensure optimal operation of the facility oil and gas industry and minimize the impact on the environment in the geopolitical conditions of the Arctic.The authors declare no conflict of interest

Trends and Prospects of Development of the Oil and Gas Sector in the Context of Digitalization

2020 ◽  
Vol 26 (1) ◽  
pp. 35-45 ◽  
Author(s):  
A. G. Kazanin
Keyword(s):  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Global Market ◽  
The Arctic ◽  
Business And Society ◽  
Gas Industry ◽  
Exploration And Production ◽  
Oil And Gas Sector

The modern oil and gas industry is heavily dependent on the processes and trends driven by the accelerating digitalization of the economy. Thus, the digitalization of the oil and gas sector has become Russia’s top priority, which involves a technological and structural transformation of all production processes and stages.Aim. The presented study aims to identify the major trends and prospects of development of the Russian oil and gas sector in the context of its digitalization and formation of the digital economy.Tasks. The authors analyze the major trends in the development of the oil and gas industry at a global scale and in Russia with allowance for the prospects of accelerated exploration of the Arctic; determine the best practices of implementation of digital technologies by oil and gas companies as well as the prospects and obstacles for the subsequent transfer of digital technologies to the Russian oil and gas industry.Methods. This study uses general scientific methods, such as analysis, synthesis, and scientific generalization.Results. Arctic hydrocarbons will become increasingly important to Russia in the long term, and their exploration and production will require the implementation of innovative technologies. Priority directions for the development of many oil and gas producers will include active application of digital technologies as a whole (different types of robots that could replace people in performing complex procedures), processing and analysis of big data using artificial intelligence to optimize processes, particularly in the field of exploration and production, processing and transportation. Digitalization of the oil and gas sector is a powerful factor in the improvement of the efficiency of the Russian economy. However, Russian companies are notably lagging behind in this field of innovative development and there are problems and high risks that need to be overcome to realize its potential for business and society.Conclusions. Given the strategic importance of the oil and gas industry for Russia, its sustainable development and national security, it is recommendable to focus on the development and implementation of digital technologies. This is crucial for the digitalization of long-term projection and strategic planning, assessment of the role and place of Russia and its largest energy companies in the global market with allowance for a maximum number of different internal and external factors.

scholarly journals Human Centric Digital Transformation and Operator 4.0 for the Oil and Gas Industry

IEEE Access ◽  
2021 ◽  
pp. 1-1
Author(s):  
Thumeera R. Wanasinghe ◽  
Trung Trinh ◽  
Trung Nguyen ◽  
Raymond G. Gosine ◽  
Lesley Anne James ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Digital Transformation ◽  
Gas Industry

How Digital Transformation Improves Perceptions of Oil and Gas Industry

2020 ◽  
Vol 72 (12) ◽  
pp. 33-33
Author(s):  
Chris Carpenter
Keyword(s):  
Digital Technology ◽  
Public Perception ◽  
Business Models ◽  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Production Optimization ◽  
Petroleum Engineering ◽  
Co2 Injection ◽  
The Impact

The final afternoon of the 2020 ATCE saw a wide-ranging virtual special session that covered an important but often overlooked facet of the unfolding digitalization revolution. While the rising wave of digital technology usually has been associated with production optimization and cost savings, panelists emphasized that it can also positively influence the global perception of the industry and enhance the lives of its employees. Chaired by Weatherford’s Dimitrios Pirovolou and moderated by John Clegg, J.M. Clegg Ltd., the session, “The Impact of Digital Technologies on Upstream Operations To Improve Stakeholder Perception, Business Models, and Work-Life Balance,” highlighted expertise taken from professionals across the industry. Panelists included petroleum engineering professor Linda Battalora and graduate research assistant Kirt McKenna, both from the Colorado School of Mines; former SPE President Darcy Spady of Carbon Connect International; and Dirk McDermott of Altira Group, an industry-centered venture-capital company. Battalora described the complex ways in which digital technology and the goal of sustainability might interact, highlighting recent SPE and other industry initiatives such as the GAIA Sustainability Program and reviewing the United Nations Sustainable Development Goals (SDGs). McKenna, representing the perspective of the Millennial generation, described the importance of “agile development,” in which the industry uses new techniques not only to improve production but also to manage its employees in a way that heightens engagement while reducing greenhouse-gas emissions. Addressing the fact that greater commitment will be required to remove the “tougher two-thirds” of the world’s hydrocarbons that remain unexploited, Spady explained that digital sophistication will allow heightened productivity for professionals without a sacrifice in quality of life. Finally, McDermott stressed the importance of acknowledging that the industry often has not rewarded shareholders adequately, but pointed to growing digital components of oil and gas portfolios as an encouraging sign. After the initial presentations, Clegg moderated a discussion of questions sourced from the virtual audience. While the questions spanned a range of concerns, three central themes included the pursuit of sustainability, with an emphasis on carbon capture; the shape that future work environments might take; and how digital technologies power industry innovation and thus affect public perception. In addressing the first of these, Battalora identified major projects involving society-wide stakeholder involvement in pursuit of a regenerative “circular economy” model, such as Scotland’s Zero Waste Plan, while McKenna cited the positives of CO2-injection approaches, which he said would involve “partnering with the world” to achieve both economic and sustainability goals. While recognizing the importance of the UN SDGs in providing a global template for sustainability, McDermott said that the industry must address the fact that many investors fear rigid guidelines, which to them can represent limitations for growth or worse.

Study the effect of casting temperature on details from thermo-plastic materials

2020 ◽  
pp. 42-45
Author(s):  
J.A. Kerimov ◽  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Mold Temperature ◽  
Quality Parameters ◽  
Oil Field ◽  
Casting Temperature ◽  
Gas Industry ◽  
Field Equipment ◽  
Wide Range ◽  
The Impact

The implementation of plastic details in various constructions enables to reduce the prime cost and labor intensity of machine and device manufacturing, decrease the weight of design and improve their quality and reliability at the same time. The studies were carried out with the aim of labor productivity increase and substitution of colored and black metals with plastic masses. For this purpose, the details with certain characteristics were selected for further implementation of developed technological process in oil-gas industry. The paper investigates the impact of cylinder and compression mold temperature on the quality parameters (shrinkage and hardness) of plastic details in oil-field equipment. The accessible boundaries of quality indicators of the details operated in the equipment of exploration, drilling and exploitation of oil and gas industry are studied in a wide range of mode parameters. The mathematic dependences between quality parameters (shrinkage and hardness) of the details on casting temperature are specified.

On Approaches to Taking into Account the Risks of Changing Climatic Conditions when Planning and Implementing Oil and Gas Projects

2021 ◽  
Vol 18 (1) ◽  
pp. 52-65
Author(s):  
P. N. Mikheev
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Climatic Conditions ◽  
Qualitative Assessment ◽  
Physical Factors ◽  
Gas Industry ◽  
Climate Risks ◽  
The Impact

The article discusses issues related to the impact of climate change on the objects of the oil and gas industry. The main trends in climate change on a global and regional (on the territory of Russian Federation) scale are outlined. Possible approaches to the identification and assessment of climate risks are discussed. The role of climatic risks as physical factors at various stages of development and implementation of oil and gas projects is shown. Based on the example of oil and gas facilities in the Tomsk region, a qualitative assessment of the level of potential risk from a weather and climatic perspective is given. Approaches to creating a risk management and adaptation system to climate change are presented.

scholarly journals How Oil Contracts Affect Human Rights

2018 ◽  
Vol 3 (4) ◽  
pp. 30
Author(s):  
Maria João Mimoso ◽  
Clara da Conceição de Sousa Alves ◽  
Diogo Filipe Dias Gonçalves
Keyword(s):  
Human Rights ◽  
Oil And Gas ◽  
Social Issues ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil Companies ◽  
The Social ◽  
Oil Contracts ◽  
The 19Th Century ◽  
The Impact

Since the beginning of the 19th century, we have assisted major proliferation of the oil and gas industry. This phenomenon of exponential growth is due to the fact that oil companies hold the world’s oil monopoly on the extraction, processing and commercialization. Therefore, as being one of the most influential sectors in the world, is crucial to strictly regulate how oil and gas contracts concerns the potential environmental and social impacts arising from the conduct of petroleum operations and how such behavior affects the human rights. As a matter of fact, the social issues field is an emerging area, and despite such importance, oil contracts do not often deal with them in great detail, corresponding to an actual emptiness of the human rights provisions. In terms of responsibly, oil companies, have an inalienable obligation to ensure that their actions do not violate human rights or contribute for their violation. This study aims to trace a detailed analysis of the impact of the oil and gas agreements in human rights. In order to fully comprehend the deep effects of this industry, we will examine, in detail, numerous of published oil and gas agreements, as well as, decode which are the real standards and practices accepted by this industry. We will use a deductive and speculative reasoning. We will try to demonstrate how incipient and short protection is given to human rights and what responsible conducts must urgently be developed.

scholarly journals THE IMPACT OF ICTS ON CORE SECTORS OF THE NIGERIAN ECONOMY

2013 ◽  
Vol 1 (3) ◽  
pp. 58-62
Author(s):  
Dike Ike
Keyword(s):  
Business Processes ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Managerial Decision ◽  
Gas Industry ◽  
Agricultural Industry ◽  
Human Endeavor ◽  
Efficiency And Effectiveness ◽  
Information And Communication ◽  
The Impact

Information and Communication Technology (ICT) has taken the center stage in almost every aspect of human endeavor. ICT help companies to improve the efficiency and effectiveness of services offered to customers, and thus enhances business processes, managerial decision making, and workgroup collaborations, thus strengthening their competitive positions in rapidly changing and emerging economies. This paper considers the impacts and trends of ICTs on core sectors of the Nigerian economy. Three core industry sectors of the Nigerian economy were examined namely: Banking Industry, Oil and Gas Industry, and Agricultural Industry in order to examine the level of impact ICTs have on the overall Nigerian economy.

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