The future of the energy sector has been saved
The future of the energy sector
Cyber everywhere. Advance anywhere.
Digitisation is changing the dynamics of accessibility, productivity and sustainability of the energy system. In the coming years, digital technologies will make the energy sector more connected, intelligent and efficient, so that the inherent infrastructure could smartly detect who needs ‘how much’ energy and ‘in what capacity’.
The implementation of Blockchain technology brings in many advantages.
It enables an ease of doing business, and, at the same time, helps maintain compliance (with abilities to reduce potential fraud), and maintain integrity of data and authenticity of transactions across business lines (this includes efficient energy trading, reliable financial transactions, compliance to regulatory requirements and integration of interoperable applications and infrastructure).
Internet of Things (IoT)
Oil and gas companies typically have numerous remote assets that require efficient operation, communication and monitoring. IoT is making it a lot easier to collect critical information, which then helps the business make more informed decisions.
Artificial Intelligence (AI) and Machine Learning (ML)
The oil and gas industry can use AI and ML data science and analytics to solve complex data structures and formats used for oil and gas exploration and production, and thereby, create new exploration opportunities.