Artificial Intelligence, Automation, Education, Employment, Featured 1, Gas Flaring, OFFSHORE OPERATIONS, Robotics

Oil And Gas CEO: New Tech Creates Opportunity 0

Mark Gates October 15, 2018 2:13 amOctober 15, 2018

Data from KPMG’s 2018 Oil and Gas CEO Outlook, released Oct. 10, reveals that globally, almost all oil and gas CEOs believe new technology creates opportunities. Eighty-five percent are piloting or have already implemented Artificial Intelligence (AI).

However, only 59 percent feel their organization is an active disruptor in their own sector, and 57 percent feel that the lead times to achieve significant progress on transformation can be overwhelming

“Technology is disrupting the status quo in the oil and gas industry. AI and robotic solutions can help us create models that will predict behavior or outcomes more accurately, like improving rig safety, dispatching crews faster, and identifying systems failures even before they arise. This level of predictability can have a profound impact on our industry, said Regina Mayor, Global Sector Head, Energy, and Natural Resources, KPMG.

When asked about the biggest long-term benefits of AI, 46 percent of CEOs indicate an acceleration of revenue growth, 39 percent indicate increased agility as an organization, and 39 percent point to improved risk management, all within a three-year time frame. Further, they indicate high levels of confidence in their organizations’ digital transformation programs, AI systems, and robotic process automation.

Further, 58 percent of O&G CEOs feel AI and robotics technologies will create more jobs than they eliminate. In fact, 93 percent of CEOs expect an increase in industry-wide headcount over the next three years.

As oil prices remain elevated, industry confidence is up and CEOs are setting their sights on growth opportunities, with 85 percent very confident or confident on industry growth, and 88 percent very confident or confident on company growth prospects.

As part of their growth strategies, 83 percent of O&G CEOs anticipate a moderate to a high appetite for M&A activity over the next three years, largely driven by the need to reduce costs through synergies/economies of scale; a speedy transformation of business models; increased market share and low-interest rates.

“The higher price of oil is playing a significant role in driving a more positive sentiment across the industry,” said Mayor. “Executives are really honing in on ways they can improve internal efficiencies through strategic M&A moves and the use of robotics, AI and other means of digitalization across the industry.”

Despite a rosy outlook, there are still concerns and threats to achieving growth. Among the biggest threats to, 23 percent of CEOs point to emerging/disruptive technology risk, 20 percent say environmental and climate change risks and 18 percent point to a return to territorialism are most concerning.

Publisher by: Laxman PaiWednesday, 10 October 2018 23:36

SOURCE: OFFSHORE ENGINEER

Education, Employment, Insights, POLITICS & LEGAL, Sustainability

The Graduate Certificate in Global Energy, Development, and Sustainability (GEDS) 0

Mark Gates June 3, 2018 4:35 pmSeptember 10, 2018

What is the GEDS Certificate?

A multidisciplinary certification that:

Provides the analytical tools and frameworks necessary for assessing and addressing the long-term social, economic, and environmental impacts of oil and gas projects.
Introduces “best-practices” for creating energy projects that benefit all stakeholders (communities, companies, governments) in developing nations and new production regions.
Teaches students the historical and structural origins of the “Natural Resource Curse” as it manifests in different regions of the globe, and how to plan for and mitigate its effects.

Because the technical expertise of companies and governments has traditionally been focused on the efficient discovery and extraction of oil and gas resources, the skills required for developing energy projects that are sustainable and beneficial to all stakeholders (communities, companies, and governments alike) have not always been prioritized in training for an oil and gas career.

The Graduate Certificate in Global Energy, Development, and Sustainability (GEDS) provides students with such skills, imparting them through a unique, multi-disciplinary curriculum focused on the petroleum industry and its impact on societies. Classes are designed and taught by UH faculty and local/international energy experts with long academic, industry, and civil society/NGO experience. The certificate is one-of-a-kind, providing critical and timely knowledge, theory, and skill sets from fields such as business, economics, global oil and gas history, anthropology, environmental law/policy, international petroleum law, human rights law, political science, industrial occupational psychology, human resource management, corporate social responsibility, and risk analysis.

The GEDS Certificate is of benefit to those working or intending to work in the energy sector – including industry professionals, government officials and regulators, members of civil society or NGO activist/policy groups, energy consultants and financial advisors. Graduate students who are interested in energy, sustainability, and global or domestic energy policy are invited to apply as well.

Join us as we work to chart a course for a sustainable energy future, one that will benefit all stakeholders and help navigate the transitions to come!

Click here for more information