PETRONAS’ ongoing digital journey brings out insights across the integrated oil and value chain that allow it to make better decisions and respond nimbly from wellhead to delivery.
Integration is a given but how innovative and how quickly an organisation leverages the capabilities across the oil and gas value chain while aligning to its strengths allows it to weather the industry’s many volatilities, PETRONAS says.
“The change sweeping across the industry pushes us to go further, to do more, to spot the potential for integration beyond company lines and to find the unconventional partnerships that bring better value and allow the industry to prosper,” the company said.
In yesterday’s Technical Panel Session on The Value Chain – Integration Across Upstream and Downstream, Mazuin Ismail, Senior Vice President, Project Delivery & Technology, PETRONAS, explored the potential of integration across companies, industries and nations at a pace demanded by today’s global scenarios for continued growth in the energy industry.
Advances in digitalisation have also amplified the benefits of integration, allowing better insights and information across multiple value chains, enabling us to respond more nimbly and improve efficiency, it said.
“The availability of data and the tools to analyse it allows us to pinpoint the business pain points and deliver solutions that provide sustainable energy, save time, reduce costs and ensure that everyone goes home safely,” PETRONAS said.
However, this is an ongoing journey that require the partnership and integration models to go beyond conventional boundaries and partner with companies that have skillsets that are not traditionally part of the oil and gas industry – programming, data analytics, information security, among others. Further, learning from the experiences of other industries’ digital shifts will allow the oil and gas industry to innovate and push forward on its own transformation.
“The possibilities are endless to enable us to continue stretching the value of every molecule and better the way we deliver energy to the world,” it said.