Extracting the most from existing resources: Emerging Technologies provide the helping hand
Oil & Gas Trends
Oil & Gas companies are driving efficiencies and maximizing value by applying digital technologies in their business, as they face a sustained, low-price commodity environment. To remain competitive in the industry, they must accelerate their focus on existing ‘above-ground’ resources, where rest of the other sectors are growing exponentially through adopting emerging technologies away from traditional preference of only investing in innovation, that drives the core business – finding and producing oil and gas.
Digital technologies are pushing businesses to new levels of connectivity, transparency, and innovation. The O&G industry trails most other industries in digital maturity. The O&G industry is shifting toward digital technologies to improve business operations and results.
Until now, in terms of digital investment or roadmap, oil & gas companies focused on Big Data Analytics, Cloud, Mobility and IoT. However, fastest areas of growth and adoption in next 3 to 5 years are visible in the world of Robotic Process Automation (RPA), AI (Artificial Intelligence) and wearable technology (augmented reality). We will touch-base on RPA in this blog and provide deep-dive into how it can quickly and seamlessly fit into oil & gas IT, through low investment and high outcome.
What is Robotic Process Automation (RPA)
It is computer-coded, rules-based software that automates manual activities by performing repetitive rules-based tasks. RPA is one tool within the process improvement toolkit. RPA is not a humanoid robot, not entirely replacing humans, not replacing human cognitive functions.
 | Bots is a software programmed to perform repeatable tasks: Using recorders and easy programming language, robots are programmed to replicate repetitive human tasks. |
 | RPA operates in the User Interface layer: It can automate rules-based work without compromising the underlying IT infrastructure. |
 | RPA replicates human interactions with proven technology: It mimics common tasks such as queries, cut/paste, merging, button clicks, etc. |
 | RPA can be implemented at the desktop or in the virtual environment: Flexibility to quickly deploy robots directly onto existing desktops (PCs, laptops) or virtually (virtual machines) to save on additional hardware costs. |
Benefits of RPA and Clarity on Perceptions
The driving factor is to automate processes to free up resources for critical initiatives, rapidly streamline processes, and drive competitive advantages.
Adoption in Oil & Gas industry (Maturity Level 2) and what is roadmap
Automation can be broadly classified into four generations. Most major non- oil and gas sectors, industries are in Generation-2 of the value chain, whereas Oil & Gas is lagging at Generation 1. Automation through RPA provides multitude of opportunities, and when combined with Machine learning and AI, will be path-breaking.
Where RPA is applicable (Use Cases)
Following are major use cases where RPA can be applied
| Function | Groups | Use Cases |
|---|---|---|
| Production Management | Operations |
|
| Information Management | Asset development & Facilities Engineering Operations |
|
| Back Office Operations | Shared Services, Finance |
|
| Information Technology | IT Operations |
|
| Human Resources | HR & Administration, Health Environment Safety |
|
Key Takeaway
Making better use of existing technology can deliver serious returns—by increasing production, streamlining the supply chain, or even reducing engineering time. The computers in the offices of the average big oil company can find an additional USD1 billion in value, if you let them.
RPA is not a question of “if” anymore but a question of “when.” It is truly the next frontier of business process automation, predictive smart data analytics, machine learning and enterprise cognitive computing. So, start the journey on RPA now.
Blogger's Profile
Srinath Subramanyan
Sr. Project Manager (Americas - MFG)
Srinath is working for a major Oil & Gas client under Manufacturing Business Unit. He has around 11+ years of experience with LTI, and is working with Oil & Gas customers for varied enterprise systems across landscape, since last eight years.
With inputs from Rohan Savla
Rohan is a Senior Project Manager, working for major Oil & Gas client under the Manufacturing delivery unit. He has around 10+ years of experience with LTI.
Latest Blogs
In today's digital era, ransomware attacks and other cyber threats are more prevalent than…
In the evolving landscape of technology, the rise of quantum computing stands out as a frontier…
In contemporary corporate landscapes, the pursuit of human resources (HR) transformation remains…
In the dynamic realm of big data, advanced analytics, and artificial intelligence, the strategic…
