E&P Digital Transformation: Fundamental Next Step in Creating Value

The digital transformation of the exploration and production industry has been a hot topic for some time. However, talk is cheap. No matter how good the discussions are, all this conversation must now be followed through with tangible action. Failure to act promptly could place organizations at a disadvantage, as other companies commit to actively drive their digital transformation.

Dr. Satyam Priyadarshy, Technology Fellow and chief data scientist at Halliburton, recently published an article in the Journal of Petroleum Technology, in which he promotes E&P digital transformation as the next fundamental step in creating value. While Dr. Priyadarshy discusses the stumbling blocks that must be overcome, he also promotes “four pillars” of E&P digital transformation to achieve success: automation, real-time optimization, an integrated technology platform and big data analytics. Although challenges remain, Dr. Priyadarshy urges the industry to push forward and invest in its digital transformation — the key to remaining competitively viable in today’s market.