How will technology and digitalisation reshape the oil and gas industry?

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Technology and Digitalisation Will Reshape the Oil and Gas Industry

Technology and digitalisation are critical for the oil and gas industry to survive, remain relevant, and competitive in the future. Embracing these advancements is paramount for a necessary shift in mindset and operational practices. Petronas has already piloted remote operations, anticipating significant cost reductions.
Driving Industry Survival and Competitiveness

The oil and gas sector must adapt to evolving energy demands and market dynamics. Adif Zulkifli, executive vice-president of Petronas' upstream segment, highlighted that embracing new technology and digitalisation is essential for the industry's future survival, relevance, and competitiveness. This shift is not a distant prospect but a current necessity, as past operational models will prove insufficient.
Enabling Remote Operations and Cost Reduction

Petronas has initiated the transition towards remote operations, a move envisioned to redefine how the industry functions. In 2020, the company piloted its first remote operations platform at the Resak field, located offshore Terengganu. This initiative is projected to yield a substantial reduction in operational expenditure, with an anticipated decrease of up to 30%.
Fostering Innovation and Knowledge Transfer

The Re-Imagining Malaysia Assets (RESET) 2021 conference exemplifies the industry's commitment to innovation. This event aims to enhance efforts in gathering technological innovations and facilitate knowledge transfer among different industries. By showcasing implementations and best practices, RESET 2021 seeks to equip participants to navigate and stay ahead of energy price volatility.

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How will technology and digitalisation reshape the oil and gas industry?

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