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The oilfield digitalization opportunity executives can’t afford to miss

At the Baker Hughes GE Annual Meeting this week in Florence, Italy, a CEO began his presentation with this bold adage: “Digital strategy equals business strategy.” Executives on nearly every panel pointed to the digital opportunity.

As the oil and gas industry invests in the digital transformation to improve competitiveness, companies should seize the opportunity to integrate methane emissions management into their broader digital agendas, as a key way to maximize value and stay competitive in the low carbon energy transition.

Leveraging the transformation to tackle methane

The oil and gas industry is embarking on a holistic digital transformation, one that is disrupting virtually every facet of the business. Digitalization of the oilfield , which includes innovations such as automated asset management, predictive maintenance, and industrial internet of things (IIoT), has the potential to unlock tremendous value – up to $1.6 trillion.

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Also posted in Methane, Natural Gas / Comments are closed

What if gadgets talked to the grid to cut carbon? With this new technology, they can.

Having breakfast at a local restaurant last weekend, I was sitting next to parents who were desperately trying to get their toddler to eat the pancakes he had ordered a few minutes earlier. Watching the high-stakes drama, it occurred to me that toddlers are a bit like our electric grid: They can change drastically at a moment’s notice.

The better we are at reacting to the sudden outburst of “I hate pancakes” – or in the case of the grid, rapid changes in demand, price and emissions – the better off we’ll be.

For emissions at least, we can. Automated Emissions Reductions, or AER, is a new technology helping us to more precisely measure and proactively reduce the carbon emissions impact from our electricity use, in real time. A growing number of grid operators, businesses and energy managers nationwide are lining up to invest in this technology as an efficient way to cut their carbon footprint.

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Also posted in Electricity Pricing, Energy Innovation / Comments are closed

Can blockchain unlock a sustainable future?

Blockchain – a really high-tech “spreadsheet” or ledger used to record transactions securely – offers exciting potential for clean energy. With the rapid rise of distributed energy technologies — such as rooftop solar, batteries, smart energy devices, and electric vehicles — some analysts believe the market for blockchain applications in the energy sector is many times larger than it is for cryptocurrency in the financial sector.

Blockchain technology may hold great promise for a sustainable future, but we need to solve some important challenges first.

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Also posted in Clean Energy, Community Solar, Grid Modernization / Read 2 Responses

How virtual reality can help the oil and gas industry confront its invisible challenge: methane

I’m a certified oil and gas tech nerd, and I’ve never been so excited about my job. I love data, the insights that come with it, and especially the ways of applying those insights to catalyze continuous improvement. There are few decisions I make without an Excel spreadsheet – and after spending several years working for an oilfield services company, I’m passionate about solving one of the biggest environmental problems of our time: methane emissions.

Methane is the main ingredient in natural gas and a common byproduct of oil production. Unburned, it’s also a powerful greenhouse gas. Worldwide, about 75 million metric tons of methane escape each year from oil and gas operations through leaks, venting and flaring – making the industry one of the largest sources of man-made methane emissions.

As methane risk draws increasing attention from public officials, major investors and industry leaders, tech solutions are increasingly relevant and “digitization of the oilfield” is becoming industry’s hottest new term.

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Also posted in Methane, Natural Gas / Comments are closed

Oilfield digitization advancing solutions to meet an environmental challenge

Two global trends are converging in the energy industry, and the result could spur the biggest environmental advancement in a generation.

Known by some as the “digitization of the oilfield,” it’s the new wave of technologies linked with big data that is transforming an established industry. For the world’s oil and gas industry, this push toward digitization is emerging as a central part of strategic planning, as the energy landscape is reshaped by increasing competition from renewables and electrification. But competitiveness means more than bringing new efficiencies online, it also means improving environmental performance.

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Also posted in General, Methane, Natural Gas / Comments are closed