Industrial organizations are under increasing pressure to become more efficient and transparent to meet global competition.
A webcast dedicated to the transition to net-zero. The global energy industry is doubling down on digital twins to drive industry 4.0 initiatives on brownfield optimisation projects – driven by electrification, etc – and net-new renewable facilities to unlock their data for the next wave of innovation.
Nowadays the decarbonisation of hard-to-abate sectors is a key topic in the agendas of Governments, financial institutions as well as large cooperations. As in other energy-intensive industries, the oil & gas sector (O&G) is looking at solutions aimed to reduce their carbon footprint while maintaining competitiveness. The conversion of waste heat into useful power represents a viable and profitable energy efficiency improvement to hit these targets. In this framework, Organic Rankine Cycle (ORC) technology represents a feasible option to exploit waste heat and boost the overall efficiency of the O&G sector with minimum impact on the existing facilities.
While safety and profitability will always remain the top priorities for oil & gas capital project evaluations, new criteria must also be considered. Intensifying decarbonisation pressures and innovation in digitalisation are changing the way oil & gas companies operate, therefore they must be incorporated as capital project evaluation criteria to minimise risk of stranded assets. Considering the typical plant life cycle of 20-30 years and its operation, how should we transform capital project evaluation (typically based on cost & fixed oil price)?
In the push to net zero, the imperative to design, build and operate plants more efficiently and cost-effectively will not suddenly become secondary. In fact, according to McKinsey, there is a direct, two-way correlation between efficiency and sustainability. Digitally integrated workflows on the cloud–a Digital Twin approach–is a key enabler to achieve both. But what does that mean for the thousands of plants built 10, 20, or even 50 years ago when integrating data digitally wasn't even a thought in the drafting room?
Join Greg Pada, Portfolio Director, Aveva and Petroleum Economist on 8 April for a 1-hour session where he will share prime opportunities for extracting real value from Digital Twins at the various phases of your asset’s lifecycle – from capital projects through to operations and maintenance – and practical steps you can take today to start your digital twin journey with the data you already have.
Listen to this webcast on-demand to learn how to build the right strategy with a supporting methodology to measure CO2 savings and enable operators to be transparent as well as to provide investors with a future proof business model.
The last 12 months have been difficult even by the turbulent historical standards of the oil industry. As we move into 2021, we are pleased to present this webcast in association with OilX, winners of the Petroleum Economist Energy Advisory of the Year in the PE Awards 2020.
Digital Twin is no longer a buzzword in the industrial world, but something every modern player is implementing to modernize both their capital project and operational asset strategies. But what the industry hasn’t aligned on is this: What is a true digital twin, and how can it be utilized to extract value across the asset lifecycle?
In today's environment where expending precious capital on the right assets and identifying the assets in a portfolio that are key and which are non-core is more valuable than ever, Petroleum Economist and Previsions are delighted to bring you a webcast focused on value creation through robust screening of investment opportunities.