The upstream E&P industry encompasses diverse range of activities. The core activities may be broadly classified as G&G, Drilling, Production and Transportation and non-core activities supporting efficient execution of core activities and the business as a whole may be classified as Finance, Contracts and Purchase Management, HRM and Engineering services. E&P industry is one of the earliest adopters of digital technologies in its operations to efficiently transform complex reservoirs into revenues.
Oil India Limited (OIL), the 2nd largest national E&P Company of India too adopted digital technology in its G&G activities encompassing Seismic data acquisition, processing, interpretation and logging in 1970s. It was followed by use of high end workstations for reservoir studies & modelling in 80's. Over the years, OIL deployed number of digital interventions in both core and non-core activities. However, like other E&P companies, induction of digital technology is slow in core activities like Drilling and Production. As far as non-core activities are concerned, advanced digitisation methodology adopted in the area helped OIL in enhancing efficiency and ease of data access in B2B, B2C relationship.
Crude oil and Natural Gas price volatility demands that E&P organizations to be more agile and competitive. Thus there is need of collaborative workplace with real time data analysis and efficient decision making facility. As a solution, number of intelligent IT technologies in the form of IoT, Data Analytics, Machine learning, Artificial Intelligence, Augmented Reality etc. are emerging at an affordable cost. Adopting these technologies in a holistic way integrating all core and non-core activities of an E&P industry can fulfil the need of above desired solution enhancing productivity, flexibility, reliability and RoI.
Believing "Holistic Digital Transformation" is the success mantra to become more agile and competitive, OIL has embarked in the process of implementing new digital technologies integrating all its core and non-core activities. The paper describes OIL's methodology towards holistic digital transformation.