At its 20th Annual Meeting in Florence, BHGE makes the commitment to reduce CO2 equivalent emissions 50 percent by 2030 and achieve net zero by 2050
BHGE will support customers’ efforts to reduce the carbon footprint of their operations by investing in its portfolio of lower carbon products and services
New and future technologies launched at the annual event include LUMEN, which is both a wireless ground-based and aerial drone-based methane detection system; as well as a turbine powered 100 percent by hydrogen
BHGE’s Gaffney, Cline and Associates has launched its own Carbon Management Practice, the first oil and gas consultancy to offer a quantitative assessment of the carbon intensity of oil and gas assets, evaluation of carbon solutions and the accreditation of emission reductions
FLORENCE, ITALY — 28 January 2019 – On the first day of its 20th Annual Meeting in Florence, Italy, Baker Hughes, a GE company (NYSE: BHGE), announced its commitment to reduce its CO2 equivalent (eq.) emissions 50 percent by 2030,* achieving net-zero CO2 eq. emissions by 2050. The company also said it will invest in its portfolio of advanced technologies to assist customers with reducing their carbon footprint.
Net Zero Carbon Emissions
BHGE has already achieved a 26 percent reduction in its emissions since 2012 through a commitment to new technology and operational efficiencies. BHGE will continue to employ a broad range of emissions reduction initiatives across manufacturing, supply chain, logistics, energy sourcing and generation. BHGE has established a global additive manufacturing technology network with a mission to bring commercial-scale production closer to customers, reducing transportation impact and associated emissions.
“Oil and gas will continue to be an important part of the global energy mix, and BHGE is committed to investing in smarter technologies to advance the energy industry for the long-term,” said Lorenzo Simonelli, chairman and CEO of BHGE. “Managing carbon emissions is an important strategic focus for our business. We believe we have an important role to play as an industry leader and partner. BHGE has a long legacy of pushing the boundaries of technology and operating efficiency. Today we take this to the next level by committing to ambitious new goals for ourselves, and to provide lower carbon solutions expected by customers and society.”
New Carbon Management Practice
To further industry and customer efforts to reduce carbon emissions, BHGE’s Gaffney, Cline and Associates has launched a new Carbon Management Practice. This is the first oil and gas consultancy to offer a quantitative assessment of carbon intensity, evaluation of carbon solutions and the accreditation of emission reductions. This new practice helps governments, energy companies and the financial community understand and solve energy transition issues related to oil and gas resources, assets and investments.
Technology Partner to Customers
At its Annual Meeting, BHGE announced new and existing technologies that support operators’ efforts to reduce their carbon footprint:
LUMEN, a full-suite of methane monitoring and inspection solutions capable of streaming live data from sensors to a cloud-based software dashboard for real-time results. The platform consists of two seamlessly connected formats – a ground-based solar-powered wireless sensor network, and a drone-based system for over-air monitoring, – ensuring methane emissions rates and concentration levels are monitored and located as efficiently and accurately as possible. This builds on BHGE’s extensive portfolio of remote inspection and sensing technologies.
An agreement with H2U, Australia’s leading Hydrogen infrastructure developer, to configure BHGE’s NovaLT gas turbine generator technology to operate 100 percent on hydrogen for the Port Lincoln Project, a green hydrogen power plant facility in South Australia.
The new technologies build on BHGE’s expanding lower-carbon technology portfolio, which includes:
Modular Gas Processing: Modular gas processing at Nassiriya and Al Gharraf oilfields in Iraq will recover 200 million standard cubic feet per day of flare gas, reducing emissions by 5.7 million metric tons per year of CO2 equivalent, and monetizing the recovered gas. The recovered gas will be processed into dry gas, liquefied petroleum gas for cooking, and condensate, and will support domestic power generation as well as exports. An additional net 3.9 million metric tons of CO2 eq. emissions reductions are possible annually if incremental power generation is fueled by natural gas, displacing oil. Flare gas recovery and use represent one of the largest emission reduction opportunities in the global oil & industry.
LM9000 Gas Turbine: BHGE’s most advanced aero-derivative gas turbine, introduced in 2017, was designed to allow the LNG train startup in the pressurized condition without venting process gas. Its flexible fuel technology reduces emissions while eliminating water use in emissions abatement. The LM9000 delivers a 50 percent longer maintenance interval, 20 percent more power and 40 percent lower NOx emissions, resulting in 20 percent lower cost of ownership for LNG customers.
Integrated Compressor Line: This high-efficiency offshore compressor operates with zero emissions. It is driven by a high-speed electric motor in a single sealed casing and its rotor is levitated by active magnetic bearings (AMBs), allowing exceptional efficiency and reliability.
flare.iQ: flare.IQ™ provides highly accurate, near-continuous control of downstream flare performance by optimizing combustion efficiency, allowing operators to reduce flaring-related emissions by up to 12,100 metric tons of CO2 equivalent per flare annually. If deployed globally, flare.iQ could reduce annual emissions by 190 million metric tons of CO2 eq.
NextSource Modular CO2 Capture: NextSource converts thermal energy from rich burn Waukesha engine exhaust to provide low-cost CO2 for oil and gas consumers. In the process, each four-engine pad reduces emissions by 16,200 metric tons of CO2 equivalent annually or 60 percent compared to the no-capture scenario. In addition, because CO2 is captured near the well site, emissions are avoided from not having to transport liquid CO2 from a remote location to the well site.
Visit https://annualmeeting.bhge.com to learn more about the Florence event including the conference agenda and speakers guide, and where the full proceedings from the Annual Meeting will be shared at the close of the event.
**BHGE’s 2030 emissions reduction targets and performance are based on scope 1 & 2 emissions for 2017 and baseline year 2012, as reported to the Carbon Disclosure Project..
From the perspective of business, engaging employees is critical to developing and advancing a company’s sustainability goals. The feeling is mutual from the perspective of current, not to mention future employees: A company’s sustainability goals are important to the process of attracting and retaining the top talent.
But meaningful engagement across the entire spectrum of a company’s operations can be challenging. Many employees are often unsure how their job roles connect with a company’s sustainability programs and strategies, and many companies find it challenging to integrate — and inspire — leadership on sustainability in the day-to-day activities in their workforce. The net result: Employees often end up being an underused and undermotivated resource in a company’s sustainability journey.
Dow recognized these challenges early on and began to address them with its company-wide commitment to 2015, and now, 2025 Sustainability Goals, which have sought to redefine the role that business plays in society. A primary objective of the goals is to mobilize the human element — employees, suppliers, customers and the communities in which they live and work — to improve the well-being of people the world over.
To take the 2025 goals to the next level within the company, Dow collaborated with the Erb Institute of the University of Michigan in 2017 to design and launch the Dow Sustainability Academy. The Dow-Erb partnership has proven to be incredibly successful, productive, fun and, yes, sustainable. Dow brought to the table its decades of experience on making business sustainability real, and Erb brought its 20-year track record of being at the leading edge of research and teaching at the intersection of business, society and the environment.
The result of this partnership is a business-sustainability leadership and development program that provides Dow employees with the tools and insights they need to bring sustainability into their daily work. As part of the academy, Dow employees — selected as part of a competitive, application-based process — spend a week in training at the Erb Institute.
During this time, they learn from and interact with some of the world’s leading experts on a wide range of topics, from making the business case for sustainability and the policy backdrop against which business sustainability unfolds, to hands-on tools for implementing the elusive triple bottom line. When the in-class sessions come to a close, academy participants work on real-world projects related to one of the Dow sustainability goals and are given six months to use what they learned in Ann Arbor to complete them.
Recently, we had the pleasure of watching project teams from the second group of academy members present their project solutions to Dow leaders, as well as to the next contingent of employees chosen to be part of the academy. Each team passed along their advice to their successors in the academy, and it struck us while we listed to them that their learnings apply to not only academy participants but to anyone seeking to collaborate, stretch and grow at their company and in their career.
Here’s some of what we heard:
Avoid solutions that are attractive only because they are obvious or easy. One team was asked to determine the theoretical limits of how much emissions can be reduced from each Dow site, plant, equipment and technology. The aim was to help Dow achieve its 2025 Operations Sustainability Goal of growing the company globally over the next decade without allowing the company’s greenhouse gas emissions to exceed its 2006 baseline.
Team members had to reach outside their area of expertise and talk with dozens of people across Dow sites to understand and catalog the possible opportunities. By asking questions and — importantly — challenging assumptions about what previously were thought to be the performance range of various technologies and equipment, the group was able to identify additional, significant opportunities for reducing emissions.
When you face challenges, remember that your vision and passion are your North Star. All the projects carried out by academy participants require engaging in complex systems and with multiple stakeholders. In this kind of environment, sustainability objectives aren’t easy to define, and decisions must be made in an information-rich environment characterized by high levels of uncertainty.
One team, tasked with reducing food waste at a Dow site as part of the company’s goal to advance a circular economy, admitted that it was easy to get lost in rabbit holes or mired in red tape. However, by being true to their vision of what was possible, and by being persistent — “no” was not an acceptable answer — they were able to find both a workable solution for composting at a Dow site and identify local groups receptive and able to receive the compost.
Make “change agent” part of your job description. There’s a saying at Erb: When it comes to sustainability in business, be prepared to invent the job you want and then go do it. In other words, don’t wait to be anointed; being a change agent is a title you can bestow upon yourself.
The same goes for participants in the academy. One group was tasked with identifying a single project that aligned neatly with Dow’s valuing nature goal; the requirements were that the project had to be good for business but even better for the natural environment. Rather than identifying just one project, members took it upon themselves to identify one project each, for a total of three. From creating sustainable prairie habitat at company headquarter and planting native grasses to reduce erosion at a Seadrift, Texas, site to waste reduction at a plant in Freeport, Texas, these projects were heralded for their ability to cut emissions, rehabilitate the environment and bring business value to Dow.
As we get set to embark upon our fourth Dow Sustainability Academy, we could not be more delighted by what we have seen from those who have graduated from it. By thinking critically and creatively about sustainability’s role on the job, employees not only found answers to drive Dow’s sustainable practices but established critical leadership skills.
They learned to apply ingenuity and entrepreneurial spirit to address sustainability challenges and to respond to sustainability opportunities.
They began to see those sustainability decisions are real opportunities for setting and then achieving objectives and that business sustainability really is a journey that will require vision, leadership and course corrections along the way.
And they found that no matter their job titles, they actively could incorporate tools for sustainability into their jobs — and into their lives outside of work — in order to be champions for lasting, positive change.
That’s a win for employees, for Dow and Erb, and — most importantly — for society
Here’s a look at how AI is transforming entire enterprises, particularly through the lens of marketing and IT, and why the two teams must work together.
The massive impact AI has already had in marketing, and what we expect to see of it in the near future, is a hot topic here at MarTech Today. In my previous columns, we’ve explored how AI will be woven into marketing organizations, where it belongs in your marketing stack, and where CMOs should focus today to get the best results from their investments in AI.
There’s no doubt it’s become widespread; in fact, global spend on artificial intelligence is expected to grow from an estimated $2 billion this year to $7.3 billion per year by 2022, according to a study from Juniper Research. Yet, as abundant as it is, artificial intelligence is still a mystery to many.
Case in point: Only 33 percent of consumers think they use AI-enabled technology, yet new research shows that 77 percent actually use an AI-powered service or device.
Marketers are perhaps savvier to the opportunities than most, so it was no surprise that when my company, BrightEdge, recently asked over 500 marketers to identify the next “big trend in marketing,” 75 percent pointed to some type of AI application.
CMOs are challenged now to not only identify the right AI applications to solve specific problems but to then sell those to the CEO, other company leaders and the teams that will use the technology. Today, we’re going to broaden the scope and take a look at just a few of the ways AI is transforming entire enterprises, particularly through the lens of marketing and IT integration.
The CIO, CMO and AI
We learned in recent Adobe research that 47 percent of digitally mature organizations, or those that have advanced digital practices, said they have a defined AI strategy.
We all know that Google has one. The search giant dropped a whopping $3.2 billion acquiring Nest Labs, the largest of its $3.9 billion in disclosed AI acquisitions since 2006. All told, Google has invested $3.9 billion in AI deals, more than any other company.
Microsoft, Apple, Intel and SalesForce behind Google round out the top five companies making acquisitions of AI. (Intel takes the crown for the highest number of unique investments in AI companies, at 81.)
Sixty-one percent of over 1,600 marketing professionals from companies of all sizes pointed to machine learning and AI as their company’s most significant data initiative for next year, a MemSQL survey found.
But where is all of this interest and investment headed?
Take a look at Amazon for a sneak preview. The e-commerce giant completely rebuilt itself around AI, with spectacular results, according to a feature published in Wired. In 2014, according to the article, Srikanth Thirumalai, computer scientist and head of Amazon’s recommendations team, brought CEO Jeff Bezos the idea that Amazon could use deep learning to revamp the way recommendations work.
Thirumalai was only one department leader who included AI in his visionary proposal to Bezos. The revolution came, he told Wired, when leaders in isolated pockets of AI came together to discuss the possibilities and ultimately begin collaborating across projects. As Thirumalai told Wired:
We would talk, we would have conversations, but we wouldn’t share a lot of artifacts with each other because the lessons were not easily or directly transferable.
What followed was a revolutionary AI-centric management strategy that has baked artificial intelligence into Alexa, Amazon Web Services and almost every other facet of the $1 trillion company. Amazon takes a “flywheel” approach to AI.
Modeled after the simple tool that stores rotational energy, Amazon’s AI flywheel enables teams to build off of AI applications developed elsewhere in the organization. It’s an entirely collaborative approach that has proven a revenue generator, as well, by offering select tools to third-party companies.
That collaboration — the shift from competing for the budget for AI to working across departments — has paid huge dividends for Amazon. What could it do for your brand?
Solving persistent challenges
In 2018, CMOs have had access to more third-party AI-powered tool options than they can shake a stick at. Our firm found in recent research that more than 50 percent of marketers simply expect marketing technology providers to have native AI capabilities and consider it important or a must-have.
CIOs have been slower on the draw. Gartner’s 2018 CIO Agenda Survey found that just 4 percent of CIOs have already implemented AI in the corporate realm. However, 46 percent plan to do so in the near future. This doesn’t mean IT is being left behind. After all, the best use of AI isn’t about providing tools; it’s the catalyst in massive organizational change and even creating a new type of organization.
In the Texas A&M University System, for example, Cyber Security Intelligence reports that AI has been put to work in IT enhancing cybersecurity via Artemis, an intelligent assistant from Endgame.
“We monitor the networks for 11 universities and 7 state agencies,” said Barbara Gallaway, a security analyst at Texas A&M University System, told the publication.
Using an AI application that enables her staff to ask simple questions has helped train them in their jobs as a side benefit, she reportedly said. Her team now includes eight part-time student workers who don’t need extensive experience in dealing with security incidents in addition to nine full-time IT staff.
AI-powered products and services are helping IT teams improve productivity and effectiveness through logs analysis, employee support, enhanced cybersecurity, deep learning, natural-language processing and more. CIOs have the opportunity to transform IT from cost center to organizational trailblazer with AI.
However, as we’ve seen with Amazon, the real magic happens when CMOs, CIOs and other company leaders work together to facilitate collaborative workflows and enhanced customer experiences through AI.
Analysis of data is already a key AI focus for businesses, with on-site personalization the second most commonly cited use case for AI. Working across departments and projects, teams are discovering new and unexpected use cases for AI in their organizations.
For example, Mike Orr, IT director of digital transformation at Murphy Oil, shared the following story with CIO.com. Murphy Oil turned to an AI-powered system from Turbonomic to make recommendations about how to optimize their infrastructure while moving it from traditional on-premises and colocation to cloud and SaaS models. Once the company grew comfortable with the system, they began to trust it to perform placement and sizing automatically. Prior to the move, Orr had 4 1/2 full-time equivalents working on nothing but tickets. “Now it’s one-tenth of an FTE [full-time employee],” he says.
This is something we’re going to see more and more; in fact, Gartner predicts that while 1.8 million jobs will be eliminated due to AI by 2020, 2.3 million more jobs will be created in their place. Rather than the robots “stealing our jobs,” the impact of AI technologies on business is projected to increase labor productivity by up to 40 percent and enable people to make more efficient use of their time.
So, how can CIOs and CMOs work together?
As the worldwide volume of data continues to grow at some 40 percent per year, the CIO and CMO need to work closely and collaborate early on new initiatives. IT is a critical strategic partner for marketing and should be involved and consulted from conception and through all stages of planning.
Constantly connected consumers are generating a wealth of data for marketing — so much that most teams struggle to uncover the actionable insights that drive smarter, more informed campaigns. Who better than IT to assist? In addition to their information architecture and analysis prowess, IT is also in a position to share relevant insights with other departments as well. CMOs and CIOs must each take steps to come closer together. For CMOs, this means mastering not only the art of creativity and strategy but also the science of analytics. CIOs need to shift from a mindset of control and prevention to that of a facilitator and enabler.
The CIO is in a position to execute massive organizational change, while the CMO can be critical in selling it internally, to the rest of the C-suite and right on down to individual team members.
The CMO must be able to articulate and clearly define business goals for the CIO to evaluate and cost out. This is a give-and-take relationship that may require some negotiation but is sure to result in more purposeful tracking, measurement, and analysis.
Each must demonstrate a willingness to communicate on the level; to adopt a common vernacular and clear set of expectations of one another.
Both the CIO and CMO must enable and support integrated teams. This means not only giving employees the time and space to work together, but also giving recognition and sharing results out to the company when these partnerships result in innovative, successful uses of AI within the organization.
It all sounds great in theory, doesn’t it? In reality, changing up the complexities of traditional organizational hierarchy and deep-seeded business practice has proven incredibly challenging. Industry recommendations suggest CIOs and CMOs ensure they have these five prerequisites in place (with the CEO’s explicit support) as the foundation on which to build this relationship:
Be clear on decision governance.
Build the right teams.
Hire IT and marketing translators.
Learn to drive before you fly.
In the age where the growth of big data brings complexity, with a universe of AI-powered possibility spread out before us, marketing and IT simply do better together.
ABOUT THE AUTHOR
Humans have five senses, yet none of them can understand unstructured information. Watson helps the oil & gas industry surpass human limits and enables the kind of decision making that keeps operations running at full speed. Find out more at https://www.ibm.com/industries/oil-ga…
Artificial Intelligence, Automation, COMPLIANCE & REGULATIONS, Data, Employment, Executive Brief, Featured 1
CANNONSBURG, Pa. — If there is mud on the floor, they say in the shale industry, that means cash is coming in the door. That is, when workers are out in the field and the boots are getting dirty, money is being made.
Thanks to an infusion of high technology driving the natural gas industry, it’s not just about dirty boots anymore – and it’s a good story. It’s a marriage of advanced technologies and dirt-under-your-nails hard work rarely told, because extracting shale is not a popular business politically.
Fracking, it turns out, is the one high-tech industry not embraced by politicians in Pittsburgh who are rushing to embrace the likes of Uber and Google. Why? Because local progressive Democrats, very vocal climate activists, and the burgeoning Democratic Socialists of America party demand a wholesale repudiation of the natural gas industry. Local Democratic officials thus have to oppose fracking or risk losing in a Democratic primary.
Today’s natural gas industry isn’t the same petroleum job your grandfather or your father would have applied for. It not only attracts computer scientists, software engineers, mathematicians, and geologists to relocate to Western Pennsylvania from around the country, but it also provides careers for locals who thought those good jobs left for good when the coal mines and steel mills closed a generation ago.
Plenty of locals, who perhaps were not cut out for college, just wanted an opportunity to work hard in an industry with a future. All the better if that industry utilized the resources of the land while conserving it — nobody wants to spoil the places for hunting, fishing, climbing, hiking, and camping. Even better, a local job would allow them to live near family.
Mike May is one such guy.
The 33-year-old grew up in Imperial, Pa., along the Lincoln Highway. After graduating from West Allegheny High School, May joined the Marines. When he left the service, he wanted to come back home to Western Pennsylvania and work his way up in the world, but he just didn’t know if he had the career skills.
“So, I started in the gas and oil fields literally working with my hands; I have worked in the industry from the bottom up,” he says as he stands in front of three monitors doing the same thing he did in the field.
No dirt under the nails. No weather dictating field conditions. No mud on the boots. Just precision automation that does the job a team of workers used to do in the field. Now, May does it inside the offices of CNX, a fracking company that broke off of energy giant CONSOL.
“Basically, I was a production operator,” explains May, “I ran all the physical operations, manual chokes, fixing anything that would break or go down; adjusting water dumps to increase the efficiency of the separators, water, and tank levels out there,” he says of the drilling sites.
Now, he does almost all of that remotely.
“See, this is the digital twin of the well site,” he says, pointing to one of several screens he is monitoring in a highly secure floor of the complex. “So, over here, we have all of our physical assets. This is the data surveillance side of the house. We’re also able to control and push parameters out to the field level. So, things I used have to do at the site and make physical changes I can do using technology,” he says.
Twenty miles north of this office, in Pittsburgh, several dozen young climate activists — about May’s age — protested last week in front of the mayor’s office. They pressed Democratic city and county leaders to stop the expansion of fracking in the county and to speak out against the Shell cracker plant under construction in the region.
Twenty miles in the opposite direction, public high schools are offering vocational training for their students that prepare them to walk off the high school football field on graduation day with their diplomas and into jobs that start at $129,000 a year.
Compared to the kids closer to Pittsburgh, these kids from rural high schools won’t have an inside track for jobs at the likes of Google, Uber, and others whom the Democratic mayor celebrates as part of the “new Pittsburgh.”
And the Shell cracker plant the climate activists were protesting? It doesn’t make really make crackers — cracking is the process that converts natural gas products into ethylene and then into plastics. The $6 billion dollar plant began construction last year, with construction employment expected to exceed 6,000 workers over the next ten years and provide 600 permanent positions once the plant is complete.
Since the 1920s, technology and automation have been disrupting the manufacturing world — eliminating jobs and growth opportunities throughout the different regions in the country. Here, technology is creating jobs. For May, automation and high technology didn’t take his job; it enriched it.
“Correct. I kinda evolved with the times. I am truly living the American Dream.”
First out is the Alvheim field, where Solution Seeker´s ProductionCompass AI solution will utilize all available and relevant data to perform real-time production data analytics and production optimization, including management of the challenging slugging problem at the field through advanced slug data analytics.
“With Alvheim, we embark on a very exciting journey with AkerBP and Cognite to deliver artificial intelligence to maximize oil and gas production based on pure data-driven models. We are honored and proud to be chosen as a strategic partner to AkerBP and Cognite, as AkerBP is clearly one of the most ambitious oil companies driving the digital oilfield agenda.” says Vidar Gunnerud, founder, and CEO of Solution Seeker.
The production data is streamed live from Cognite´s Data Platform, developed in close collaboration with AkerBP to make all data and models readily accessible for all users and systems. The platform facilitates an open ecosystem for advanced applications such as Solution Seeker´s AI.
“We believe Solution Seeker´s AI will enable us to fully leverage and make sense of all our production data, build robust, fast and precise prediction models, and maximize our production in real-time. Their solution plugs directly onto the Cognite Data Platform, accessing all relevant production data, and writing all relevant results from their artificial intelligence back to the platform so other systems and users, in turn, can utilize these new data. In addition to the value this project creates from production optimization, this is a real demonstration of how we want to work with partners through the Cognite platform. This is data liberalization in practice – creating tangible results at every step,” says Signy Vefring, Manager Digitalization Program Office at AkerBP.
Solution Seeker is developing the first artificial intelligence for oil and gas production optimization, leveraging big data and machine learning techniques to solve the continuous optimization problem. The AI is capable of analyzing thousands of historical and live production data streams, identifying field behavior and relations, and automatically and continuously providing the most up to date prediction model to make the optimal choice of production settings.
The AI is currently being developed and deployed in collaboration with ConocoPhillips, Neptune Energy, Wintershall, Lundin, and AkerBP, and will be launched and made commercially available to all operators in 2018. This will disrupt the way operators can maximize production and improve their operations.
Solution Seeker is a technology spin-off from the ICT research group at NTNU Engineering Cybernetics and NTNU’s Centre for Integrated Operations.
Solution Seeker AS
Oildex, the leader in financial automation solutions for the oil & gas industry, today announced OpenTicket, the next generation of the company’s digital field ticket solution. OpenTicket is the industry’s only comprehensive, end-to-end cloud-based platform that provides both operators and service providers with all the software they need to generate, review and approve digital field tickets. New capabilities of OpenTicket include a dedicated mobile application that supports both online and offline generation of digital field tickets, support for Drilling & Completions (D&C) and Lease Operating Expense (LOE) organizations, and processing optimizations that speed payments, improving operator/supplier relationships.
“Highly inefficient paper field tickets are the last obstacle to overcome when it comes to automating and digitizing the oilfield,” said Craig Charlton, CEO of Oildex. “OpenTicket solves this problem and allows service providers to quickly and easily submit field tickets while allowing operators to quickly and easily approve those field tickets. Coupled with our OpenInvoice platform and recently announced Supply Chain Finance program, we are creating the most efficient source-to-settle ecosystem in the oil & gas industry.”
New Capabilities in OpenTicket
Complete solution for both operators and service providers: Through online portals for both operators and suppliers, OpenInvoice integration, a cloud-based collaborative workflow engine, integration APIs and a dedicated mobile application, OpenTicket is a complete solution for both service providers generating and submitting field tickets, as well as operators adjudicating and approving field tickets.
Offline mobile support for service providers: A native iOS and Android mobile app allows for the creation of digital field tickets as work is completed with Store and Forward functionality, so it works even when service providers are offline. The application features a user interface designed with the needs of service providers working in the field in mind.
Support for Drilling & Completions (D&C): New OpenTicket D&C functionality including rentals support, as well as integration with industry-leading morning reporting systems to provide accurate up-to-the-minute cost information from field tickets submitted via the mobile app.
“Virtual Company Man” capability: For Lease Operating Expense (LOE) production operations field supervisors, OpenTicket provides a ‘virtual company man’ capability whereby service provider personnel become members of a virtual team, allowing the field supervisor to be aware of all operations and costs across a broad geographic territory in near real time.
Optimized processing expedites approval enables ‘Pay on Ticket’: Several new processing improvements such as automated price book reconciliation allow OpenTicket to significantly decrease the time associated with the approval, invoicing, and payments, leading to improved operator/service provider relationships.
“With the introduction of OpenTicket, Oildex seems to have figured out a solution to a problem that has plagued the oilfield services industry since the very beginning,” said Bob Cohen, Research Director, Ardent Partners. “Oildex has streamlined the field ticket process by offering reconciliation with price books and purchase/work orders, added support for auto-approval scenarios that automatically ‘flip the ticket’ into an invoice, and applied AP workflow and approval capabilities to the field ticket automation process.”
By removing the use of traditional paper field tickets, OpenTicket improves safety by eliminating unnecessary travel, makes all field ticket information analyzable data to support analytics initiatives, gives field supervisors complete visibility into all activities and costs, and automates compliance and reconciliation processing to expedite approvals and payments. OpenTicket fully integrates with OpenInvoice to create a seamless and automated platform for submitting field tickets and creating digital invoices for review and approval.
Packaging and Availability
Formerly known as OpenInvoice Field Ticket, OpenTicket is available now. Operators can subscribe to OpenTicket and purchase OpenTicket Mobile seats they can distribute to their service providers. Existing Field Ticket subscribers will be able to obtain OpenTicket Mobile licenses from Oildex. As an agile development shop, Oildex updates OpenTicket every month. While most of the new capabilities in OpenTicket are already available, some including D&C functionality is planned to be available this summer.
Oildex is transforming the way the oil and gas industry connects, collaborates and automates. More than 1,100 operators, 67,000 service providers, dozens of financial institutions and millions of mineral rights owners use the Oildex Network to seamlessly and securely collaborate with their business partners, automate critical business processes, eliminate the high cost and errors associated with the handling of paper, and obtain access to key data to make more informed business decisions. Oildex is headquartered in Denver and has offices in Calgary; Houston; Austin; Fayetteville, Arkansas, and Tennessee. Learn more about Oildex at http://www.oildex.com.
What role can business play in achieving the Sustainable Development Goals (SDGs) The World Business Council for Sustainable Development (WBCSD) launched the CEO Guide to the SDGs – a new resource aimed at galvanising engagement from global business leaders in relation to the Sustainable Development Goals (SDGs). The CEO Guide to the SDGs sets out clear actions that CEOs can take to begin to align their organisations with the SDGs and plot a course towards unlocking the value they represent. Find out more: http://www.wbcsd.org/Overview/Resourc…
Published by Green TV April 3, 2017
Over the next decade, oil and gas companies have a huge challenge and major responsibility to significantly reduce their carbon footprint and address climate change.
Ernesto Santibanez Borda, a PhD researcher in the Earth Sciences & Engineering Department at Imperial College is looking to help these companies choose the best method for limiting emissions associated with using and transporting natural gas. We interviewed him about his work with Professor Anna Korre.