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Radical Innovations Transforming Upstream Oil & Gas Industry

  • Report

  • 42 Pages
  • March 2020
  • Region: Global
  • Frost & Sullivan
  • ID: 5013143

The introduction of unconventional fuel systems including shale gas, bio-fuels along cut-throat geopolitical barriers including the Saudi-Russia oil price war has infused a volatile business scenario. The effect of these major disruptions has resulted in price volatility across the world. Besides, the introduction of the International Maritime Organization (IMO) 2020 regulations has strictly mandated desulfurization across the marine sector that has compelled oil & gas operators to restructure and sustainably organize their business and technological enhancements.

Companies including BP, Shell, and other oil & gas industry players have proactively assessed the underlying challenges and have initiated projects and programs directed towards technological & strategic developments to address the challenges. Also, various technology-oriented companies and associated digital technology developers have continuously been working towards the development of autonomous technologies and IIOT driven platforms to support and enhance operational performance and cost reduction.

Since the last few years, the O&G industry has undergone a visionary change from a conventional ecosystem into a digitized and circular business platform. The research study focuses on four key factors where digitization, autonomous process developments, strategic implementations to averse risk, and enhancing operational efficiency will play a major role in shaping the industry sustainability.

Table of Contents

1.0 Executive Summary
1.1 Research Scope
1.2 Research Process and Methodology
1.3 Research Methodology Explained
1.4 Key Findings
2.0 Overview of Innovations Transforming Upstream Oil & Gas Industry
2.1 (IIOT)-based Solutions along with Innovative Business Platforms to Shape the Future
2.2 Life Cycle Management, Digitization, and Process Optimization to Form the Basis for Long-term Sustainability
2.3 Changing Trends in Supply and Demand that Reshape the Industry Dynamics
2.4 Potential Value of Critical Development Initiatives in the Oil & Gas Industry
3.0 Key Trends Defining the Oil & Gas Critical Development Themes
3.1 Process Optimization and Sustainability
3.1.1 Process Optimization and Sustainability to Play a Pivotal Role in Shaping the Future
3.1.2 Three Primary Pillars to Future Business Enhancement
3.1.3 Unmanned Operations by Autonomous Technologies (Case Study)
3.2 Connected Asset Life Cycle Managementand Digitally Collaborative Value Chain
3.2.1 Digital Initiatives in the Upstream Industry
3.2.2 Recent Funding Deals Secured by Companies Offering Digital Solutions for the Oil & Gas Industry
3.2.3 Recent Digital Technology Investments Made by Oil & Gas Stakeholders
3.2.4 China Holds Ownership to About 45% of the Global Patents Related to Digital Innovations in Oil & Gas Sector
3.2.5 Logging While Drilling (LWD) and Cloud-Based Operations to Energize the Industry Outlook (Case Study)
3.2.6 Predictive Maintenance and Smart Pipeline Inspection to Streamline Operational Parameters (Case Study)
3.2.7 Wearables and Industrial Mobility Tools to Ensure Safety and Productivity (Case Study)
3.2.8 Common Trading Platform and 3D Printing for Effective Operational Performance (Case Study)
3.2.9 Blockchain Technology to Ease Commodity Trading (Case Study)
4.0 Innovations Shaping a Robust Future for Oil & Gas Companies
4.1 Disruptive Drilling and Pumping Innovations Fueling the Oil & Gas Industry
4.2 Disruptive Data Analytics Innovations for Oil & Gas Sector
4.3 Disruptive Aerial Imagery Innovations for Oil & Gas Sector
4.4 Disruptive Blockchain and Cybersecurity Innovations for Oil & Gas Sector
5.0 Growth Opportunities and Insights across the Oil & Gas Industry
5.1 Strategies for the Industry to Promote Radical Innovations
5.2 Strategies for Governments to Promote Radical Innovations
6.0 Impact Assessment of COVID-19 on the Oil & Gas Industry
6.1 Dropping Demand and Crashing Oil Prices to Concern Industry Participants
7.0 Key Contacts
7.1 Key Industry Influencers

Companies Mentioned

A selection of companies mentioned in this report includes:

  • BP
  • Shell