SLB

Saudi Aramco, BP, and Schlumberger pride themselves on staying at the forefront of digital technology development and deployment. But an equally daunting challenge for the industry heavyweights is keeping their ever-expanding digital systems secure.

The combination of digital technologies will enable Chevron—and, eventually, other companies—to process, visualize, interpret, and glean insights from multiple data sources, the companies said.

The planned collaboration is expected to provide analytics-ready data from IHS Markit that would be directly accessible from the GAIA platform.

In his first public appearance, Schlumberger’s new CEO said the company would focus on digitalization and restructure some operations.

The service company said it will make its data ecosystem available to the platform that is designed to bring together exploration, development, and wells data from across the industry. This will allow Schlumberger to integrate its solutions with its clients who have already joined the platform.

The E&P sector has maintained a strong focus on capital discipline during its recovery from the 2014 oil price downturn, as investors look for companies to generate free cash flow to help pay down debt. How will this focus affect sector growth in the near term?

A comeback in offshore and international exploration and production is making up for the North American slowdown, but it is a difficult transition.

The oilfield services company named Olivier Le Peuch CEO and member of its board. He succeeds Paal Kibsgaard, who will retire.

Le Peuch will replace retiring Paal Kibsgaard, and Mark Papa will become chairman.

New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain.