Driving Digital Transformation in the Oil and Gas Sector
Oil and Gas industry worldwide look into ways to meet the world’s growing need for energy solutions. Oil and Gas workers help build a sustainable energy future by streamlining existing processes and improving efficiency. We at 10xDS leverage exponential technologies to perform repetitive, rule-based tasks thus lowering cost and improving efficiency. With an approximate 40%-45% of such tasks amenable for automation, we can revolutionise the industry and boost unmatched competitive advantage to our customers.
Challenges faced by Oil & Gas Industry
Due to the fall in production and a dramatic decrease in drilling exploration, Oil and Gas operators everywhere are now focusing more improving productivity and maximising efficiency to improve the bottom line. Another major challenge is the fluctuating oil prices, severely affecting companies, government and common man as other industries too are directly or indirectly dependent on oil. Companies try to control costs by optimizing operational performance. Although this sector is one of the first to embrace digital transformation, most systems are functioning in silos. As a result, although they are sitting on terabytes of data, actionable insights which can drive true innovations can make all the difference.
Harnessing the Emerging Technologies
Many Oil and Gas companies across the globe have started embracing these latest technologies such as Intelligent Automation (IA), Robotic Process Automation (RPA), Artificial Intelligence (AI), Advanced Analytics and others for the digital transformation of core processes and internal operations such as IT, Finance and HR. The core Oil and Gas processes are Upstream, Midstream and Downstream. Companies leverage the emerging technologies for finding new sources of oil, Field Operations, Predictive maintenance, safety checks, demand and supply planning, logistics and more.
What We Do
At 10xDS, we utilise cutting edge technologies to help companies within the oil and gas industry to overcome the challenges they are currently facing. Our extensive expertise in developing transformational strategies and leading digital and operational approaches helps deliver real value and contribute to a path toward decarbonization. Our vision is to transform many corporate functions, upstream midstream and downstream processes using exponential technologies.
Finding new sources of oil
Oil companies need to find oil sources and they depend on data from seismic surveys. The surveys do not provide accurate information as the data yielded can be noisy. These surveys are tedious, taking human workers several months to interpret thus making the entire process slow. This is where 10xDS offers advanced AI technologies such as machine-learning algorithms to ﬁlter out the noisy data and the system reduces the time needed to produce clearer images bringing the search process time down to only few weeks. This allows the companies to screen more locations instantaneously to pick the best ones for drilling.
The data in the legacy systems makes it difficult for analysing well production and forecast availability of oil. Information from various disparate systems and sources need to be gathered and compiled manually to analyse production and forecast and to rank issues to enable field operations. 10xDS RPA solutions can help automate the checks and alerts processes allowing functional leaders to manage the process by exception. 10xDS also offers AI algorithms to analyse the real-time data from the drill bit. This helps geologists to chart more accurate course for the oil well and reduce the mechanical wear-and-tear of the drill, thereby reducing operating costs.
Predictive maintenance for equipment
Handling malfunctions attribute to considerable amount of costs for the O & G sector companies, for maintenance and also affecting downtime on distribution pipeline, valves and others. Employing wired and wireless sensors to capture equipment-performance data such as the temperature and pressure of internal parts during optimal working and during past malfunctions can significantly help preventing malfunctions. 10xDS offers advanced machine learning algorithms to provide early warnings to help engineers replace parts before the malfunctions occur.