Driving Transformation Through Technology and Data Analytics
The energy sector’s complex data ecosystem is based on multiple asset or function-specific business systems creating data silos with disjointed processes, and ubiquitous databases and platforms that impede visibility, transparency & collaboration. With data volumes of a typical energy company doubling every 18 months, cloud technologies rapidly advancing, and AI investments growing by 40 percent each year, the potential for energy companies to make better use of data is tremendous.
For upstream operations, analytics can optimize the allocation of capital across assets, well designs, and even help cap greenhouse gas emissions. In total, analytics could reduce breakeven costs by US$10 per barrel of oil equivalent (BOE).
In midstream and downstream operations, most value from data & analytics come from the prevention of unnecessary equipment failures, improvements to inspection programs, and the optimization of energy consumption. In total, ironing out a host of minor inefficiencies could improve margins by US$2/BOE.
In the oilfield and equipment services (OFES) space, analytics is slowly being adopted to optimize internal supply chains and operations planning. However, the most meaningful value will come from digitizing products and services. In total, Infinity estimates that the market for upstream digital service providers will be US$10-15 billion by 2025.
In retail operations, the greatest value from analytics lies in optimizing fuel pricing, improving the customer experience and reducing distribution costs. In total, Infinity estimates that these and other actions could increase revenue by 10 percent and margins by 0.5 percentage points.
Infinity will partner with you on your journey towards becoming an intelligent, analytics-centered energy enterprise, invested in advanced data capabilities, artificial intelligence solutions, and a cloud-based infrastructure to help gather, process and apply data insights towards an enhanced decision-making process. In addition, we can help you fully leverage data analytics and related tools such as AI, cloud and IoT to enhance returns on your technology investment.
“Data is just like crude - valuable, but serving no purpose unrefined.”