A Deep Dive into Disruptive Technologies in the Oil and Gas Industry
- David Wishnow (Darcy Partners) | Hossein Rokhsari Azar (Darcy Partners) | Maziar Pashaei Rad (Darcy Partners / University of Houston)
- Document ID
- Offshore Technology Conference
- Offshore Technology Conference Brasil, 29-31 October, Rio de Janeiro, Brazil
- Publication Date
- Document Type
- Conference Paper
- 2019. Offshore Technology Conference
- o&g future, emerging technologies, o&g investment, disrupting technologies, future technologies
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We have conducted research with 50 E&P companies to identify the emerging technologies that would have the potential to disrupt oil and gas industry in the next three to five years. Examples of these technologies include: Aerial Data Gathering & Interpretations, Artificial Intelligence including Machine & Deep Learning, Biosciences including DNA Sequencing CRISPR Editing, Blockchain, Micro fluidics, Digital Twin 2.0., Nanotechnology, Natural Language Processing, Quantum Computing, and 3D Printing.
The scope of this research will include identification of those disrupting technologies, field level tactical applications of those technologies and use cases, the potential impact of those technologies voted by the 50 operators, and required conditions for top selected technologies to flourish.
In this paper we will not review an individual technology to utmost technical depth but we will provide a portfolio view of emerging technologies and their level of impact on the industry.
The foresight into the future technological disruptions is critical for the E&P companies who are investing millions of dollars each year in upgrading their equipment and infrastructure. Without this foresight, much of their investments could rapidly become obsolete.
Our approach involved deep interviews with subject matter experts within 50 oil companies to collect a database of interests and needs by them.
Then we investigated more than 150 technology innovators and startups to identify disruptive solutions that could match those particular needs of the operators.
Finally, we brought the top selected technologies in touch with the operators in a one full day workshop to high-grade and discuss the implications.
We have reviewed 20 technology trends that have the potential to be disruptive and found out that 5 of these technology trends attracted and were viewed as top areas for disruption by 80% of the operators. We also found out that a few of these technology themes are more fundamental and the enablers for the broader set of disruptions to happen, while a number of them are more secondary or consequential.
Up to this date all research on frontier technologies that could have an impact on oil and gas industry have been studied academically and/or by industry on a one by one basis. This paper for the first time collects a statistically valid interpretation on the importance of these technologies by the resource holders themselves and takes a portfolio view on emerging technologies versus the silo view that makes it difficult to prioritize resources and technology roadmaps. This will benefit all stakeholders of the oil and gas industry ranging from operators, innovators, investors, and to the resource holder nations in large.
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