The two words you need to know about the digital oil & gas revolution – Productivity & Predix
Digital is taking industry by storm, in even more transformative ways than we have seen so far with the Consumer Internet. From reservoir to refinery, we are revolutionizing the oil and gas industry with industrial-strength digital solutions.
So what does applying digital in the industry really mean? Are we talking IoT? Industry 4.0? IT and OT convergence? A world of digital doppelgangers?
In the end, two simple words define what digital truly means in the oil and gas industry: more Productivity enabled by Predix.
Successfully becoming an IoT steward in the oil and gas industry means improving productivity – straight and simple. It is not just about the traditional belt tightening, but our industry needs to act Smarter. Simpler. Standardized. And, more Efficient.
The apps that deliver the next stage of productivity improvement are powered by GE’s industrial operating system, Predix. We are optimizing customers’ existing brownfield operations AND planning ahead by designing new greenfield projects with digital in mind from the get-go.
In June at GE’s Minds + Machines event in Paris, we signed a first-of-a-kind MOU with Technip, kicking off a collaboration to develop new digital solutions, on GE’s Predix Industrial Operating System, geared toward the build and design phases of new LNG projects.
I had the pleasure of sharing the stage with Technip’s CEO Thierry Pilenko to discuss our industry’s need for digital innovation and about how our two companies are coming together to really build the future of oil and gas. Technip’s experience as an EPC combined with GE’s expertise as a digital industrial will help the industry find ways to optimize the design and build process, which will convert to incredible cost and time savings later in the value chain.
We are giving the industry the keys to an ecosystem that will be unleash value from wing to wing. The continuous cycle of data from operations will influence future design and build plans. I am excited about our partnership with Technip. Expanding our digital thread and building digital into the design and build phases of LNG will be transformative for the industry. New assets and facilities will be essentially “born” digital. This is an incredible complement to our capabilities in asset performance management and reservoir & production optimization.