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Oil & Gas: How Do You Compete With Free?

Oil & Gas companies use only 5 percent of data at thir disposal, leaving trillions of dollars on the table. With advanced analytics, these firms can significantly multiply the value of their data and shift the P&L equation. Learn more: https://accntu.re/2zcNybh

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Oil & Gas: How Do You Compete With Free?

  2. 2. 54% of industry executives think their growth strategies are at risk. THEY ARE RIGHT. HIGH ALERT! Oil demand is expected to peak in the next 20 years. 54% Hydrocarbons’ dominance in the energy mix will fall—by some estimates, from 80 percent today to just above half by 2060. In some scenarios, energy costs will ultimately trend to zero.
  3. 3. of O&G execs recognize that technology is still a barrier to growth. DIGITAL WON’T SAVE THEM—YET THE GOOD NEWS… With advanced analytics, they can multiply the value of data 38% 87% of O&G execs believe their organizations are data-driven. In truth, they actually use less than 5% of the data at their disposal.
  4. 4. The cumulative impact of analytics is a ROI that’s nearly 4X the baseline 0.8X 2.1X 0.6X 0.3X 3.8X THE ANALYTICS ADVANTAGE Analytics produce actionable insights and better, faster decisions that: LOWER costs INCREASE responsiveness REVEAL new, profitable business models Analytics resolve issues across the value chain that have long been considered unresolvable. DEVELOPMENT OPERATIONS COMMERCIAL TOTALPORTFOLIO
  5. 5. Dynamic risk-return assessments can predict the likely evolution of an asset’s financial performance. These insights help companies identify the best targets, thereby reducing capital investments and boosting productivity. THE ANALYTICS ADVANTAGE: PORTFOLIO MANAGEMENT In portfolio management, a 10 to 15% improvement in capital efficiency is possible.
  6. 6. THE ANALYTICS ADVANTAGE: DEVELOPMENT Analytics can make an integrated and efficient approach to field development possible by: PINPOINTING optimal well locations INFORMING design decisions IDENTIFYING and remediating project risks In asset development, companies can lower capital expenses by 10 to 20% and achieve a 5 to 10% improvement in productivity.
  7. 7. THE ANALYTICS ADVANTAGE: OPERATIONS In operations, companies can boost their productivity by 2 to 7% and reduce operational costs by 5 to 15%. Analytics pinpoint needed interventions at the wellhead, refinery or other facilities to maximize throughput. Continuous measuring and monitoring reveal how to reduce nonproductive time and pull production forward. Machine learning and AI accurately predict equipment failure and ensure production matches expectations.
  8. 8. In the future, the greater value will lie in dispatching molecules to the end-user who will pay the most. Analytics can help companies identify the most profitable plays—not just at the wellhead, but across the value chain. THE ANALYTICS ADVANTAGE: COMMERCIALIZATION In the area of commercialization, a 2 to 5% margin uplift is possible.
  9. 9. Leading companies will: • Cast a system-wide data net • Apply analytics to identify (and redefine) causal relationships between domains • Unlock additional value by linking domains ANALYTICS IN THE CORE PORTFOLIO OPERATIONS DEVELOPMENT COMMERCIAL ADVANCED ANALYTICS- DRIVEN SYSTEM-WIDE OPTIMIZATION
  10. 10. ANALYTICS IN THE NEW Advanced data analytics help companies pivot to new business models in three ways: By enabling a better understanding of consumers’ needs and behaviors By determining the relevance and potential value of different models By rethinking the role and placement of each molecule to maximize bottom-line impact 1 2 3 Analytics will help industry leaders identify what they sell, how they sell it, and to whom.
  11. 11. CONNECTING THE DATA DOTS To be competitive in an era of “free” energy, companies need to make sure four elements are in place: THE RIGHT TALENT. Welcome talent from other disciplines to gain analytics firepower and insights. THE RIGHT ANALYTICS BACKBONE. Use advances in computing power, storage, automation and data science to consider all aspects of the value chain. THE RIGHT NORTH STAR. Shift from managing capital risk to managing the speed and accuracy of decision-making. THE RIGHT PARTNERS. Create ecosystems to ensure molecules are dispatched to end uses that exhibit the greatest demand.
  12. 12. Learn more about how advanced analytics can help oil & gas companies shift the P&L equation. Read the full report. Copyright © 2018 Accenture. All rights reserved. Accenture, its logo and High Performance Delivered are trademarks of Accenture. 12 JOIN THE CONVERSATION: @ AccentureStrat Follow us on LinkedIn OIL & GAS: HOW DO YOU COMPETE WITH FREE?