AOG Insights with Accenture: Part 3

AOG Insights with Accenture: Innovation – a key to surviving the industry downturn

In its highly regarded May 2015 report ‘Ready or Not? Creating a world-leading oil and gas industry in Australia’, professional services organisation Accenture highlighted the importance of “collaboration” if the Australian oil and gas industry is to take advantage of its world-class LNG sector and survive the current industry downturn.

In this second part of an exclusive ‘AOG Insights’ series, Accenture report co-author Bernadette Cullinane, Accenture’s Asia Pacific Energy Lead and a keynote speaker at the AOG 2016 Conference, provides some in-depth thoughts on what learnings the Australian petroleum sector can take from other leading oil and gas countries.

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AOG 2016: A key to successfully making a significant transition like this is the use of new innovations, particularly the use of new technologies, what digital technologies can the industry leverage to become more competitive?

Bernadette Cullinane: The Australian LNG industry is uniquely poised given its new, modern and technologically advanced assets, to be the perfect laboratory for implementation of digital technologies like predictive analytics.

Furthermore, knowledge sharing tools and crowdsourcing allowing companies to tap into global subject matter expertise will be increasingly essential to ensure the Australian oil and gas sector is globally competitive.

AOG 2016:  What new innovations are making a difference?

Bernadette Cullinane:

• Predictive Asset Analytics – gaining insight into the root causes of failure in order to conduct only the necessary amount of maintenance, on the right asset at the right time.
• Cloud – bringing together an integrated set of services to optimise operations and asset performance through low cost IT infrastructure and access to scalable storage. Cloud allows for visualisation, orchestration and service management components at a lower price point.
• Machine learning and Article Intelligence – computers that think and interact like humans– providing knowledge; interacting with other systems and allowing for on the job learning through SMEs.
• Mobility – support and optimise process activities in fields such as maintenance and inspection tasks, equip field workers with real-time operational insights, and enable richer collaboration between field and command centres.
• Real-Time Data – aids real time decisions for safety leadership, production optimisation, management decision making, project leadership, and contractor leadership.
• Robotics – complement operations or maintenance data with real-time sensor data from areas previously costly to reach.
• 3D Printing – easily and affordably allows companies to manufacture spare parts and items in various materials, including plastics, metals, composite materials and ceramics. 3D printing means parts can be manufactured at site, significantly shorting supply chains and reducing cost while increasing availability.
• Internet of Things – intelligent machines, advanced analytics and people collaborating in any situation/location, collecting and exchanging data, resulting in improved efficiency, accuracy and economic benefit.

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