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The company is relying on DevOps and agile to hit a bold growth goal by 2025: doubling profits without changing prices.

Harnessing the industrial Internet of things has arguably become the biggest strategic priority for industrial companies in the race to gain competitive advantage through digital transformation.

Equating data to oil might make sense at first glance, given the data-driven success of tech companies, but the analogy breaks down as soon as you dig a little deeper.

Before the dream of a “subsea factory” can come true, a group of North Sea companies will need to see if the required technology is economically feasible to build.

The use of technology has helped ensure the profitability of the oil and gas industry despite a 50% fall in prices in 5 years. The key question, however, is whether the digital revolution can answer the sector’s biggest challenge: how to secure future production.

The November issues of SPE’s peer-reviewed journals SPE Reservoir Evaluation & Engineering and SPE Production & Operations include papers addressing data analytics and machine learning.

The bank funded some €2 billion in projects last year.

Microsoft announced that it will open an AI Center of Excellence for Energy in the United Arab Emirates—a global first for the company—to empower organizations in the industry in accelerating digital transformation and equipping their workforce with AI skills.

P-68 is Petrobras’ fourth FPSO to begin operations this year following the startups of P-67 at the Lula field and P-76 and P-77 at the Buzios field.

Annual report says that governments have the greatest capacity and responsibility to shape the energy future.

A fresh wave of offshore project sanctions across Southeast Asia could boost greenfield investments in the oilfield service space by almost 70% in 2020. The growth will be driven by a handful of new megaprojects across Malaysia, Myanmar, and Vietnam, according to recent project commitments.

The upgrade project will increase the maturing field’s oil production to 485,000 B/D.