innovation

Many column inches are filled with discussion of how companies need to operate in the lower-for-longer market that the upstream oil and gas industry continues to face.

Shell and GravityLight are working together in Kenya to convert the kinetic energy generated by the gravity of falling rocks to produce a safe, renewable source of light to those with no access to electricity .

Innovation occurs by thinking differently and creatively. What makes innovation commercial is its desirability to users, its viability in the marketplace, its economic soundness, and its basis in workable technology.

Big ideas for digital intelligence in Oil and Gas are being discussed at ATCE.

Schlumberger and Baker Hughes leaders said increased investments are critical to ensuring technological advancements for the industry.

Presentations at OTC's d5 event included discussion about the impact of industry disruption, the need for innovation, learning from technology failures, and how diversity contributes to success.

For deepwater development, panelists at OTC emphasized the need for scalable technology, the standardization and simplification of projects, patient capital investment in innovation, greater collaboration, and new perspectives coming from outside the industry.

Anyone selling something new for offshore exploration and production has to be able to answer a simple question from customers, “How can we save some money?” For Norwegian oil companies, change is coming in many forms: steel, sensors, software, and standards.

Low prices require doing things differently. It is a hopeful sign for the future for innovators who have been struggling to keep going and have potential customers with little to spend and a lot to worry about.

The upstream industry is undergoing a transformation. Operators and service providers alike are not just tweaking or fine-­tuning, they are completely rethinking the way they work.