Industry Article: Adopting the Cloud
“More E&P operators turn to cloud-based analytics in order to cut costs, streamline operations, and collect and process data efficiently.”
In an article published by Hart Energy for the Oil and Gas Investor magazine (June 2022 edition), the new approaches towards boosting performance within the energy and power (E&P) sector via the implementation of digitisation is discussed. Director of Strategy for Fennex, Nassima Brown and Information Security Officer of Cognite, Susan Perterson Sturm discuss how E&P companies can fully benefit from cloud-based analytics to truly extract value for cost discipline or otherwise.
Fennex’s BBSS™ (Behaviour Based Safety Solution) is explored as means to rise to challenges posed within health and safety management within the E&P sector.
Pictured: Benefits of the BBSS™ program created by Fennex.
The article provides a further insight as to the changing landscape within E&P from traditional to digital approaches in management systems, with BBSS™ showcasing benefits of this change such as greater risk awareness within individuals, improved carbon footprint and overall efficiency within health and safety management systems. The cloud-based intuitive platform replaced the traditional time-lagged and paper-based manual processes to deliver an efficient, automated suite with live analytics and transparent dashboards,” Nassima noted that BBSS™ technology, which continues to deliver results across Noble Drilling full fleet of 22 global assets, is now used as a fundamental tool to enhance safety and mitigate unforeseen activities, as well as supporting the offshore projects decarbonisation efforts by eliminating 500,000 paper cards used for reporting each year.
Within the article, Nassima also notes that as companies within the E&P sector begin to make the switch towards digitisation, a greater level of stringency will be required to ensure that digital systems are fully secure. This is something which Fennex is taking great care to implement within the BBSS™ programs as more organisations wish to begin embarking upon the utilisation of digital analytics.
“Our approach to developing technologies that are Microsoft-centric ensures that our digital solutions are fully accessible by Azure security services [a highly secure cloud foundation managed by Microsoft] and securely managed by the software company’s compliance features.” – Nassima Brown, Director of Strategy (Fennex).
Since the delivery of the BBSS™ program to the offshore drilling contractor Noble Corp in 2021, Fennex has been able to provide a real-world example of successful implementation of cloud-based analytics within the P&E sector, showcasing the array of benefits which may be delivered through “adopting the cloud”. As figures within traditionally-managed systems begin to notice more instances of greater efficiencies to be found within digital methodologies, a larger expanse of possibilities begin to emerge. This is echoed by Susan from Cognite, discussing the possibilities for heavy-assets industries to extracting maximum value of operational data trough the use of cloud-based technologies, believing there is considerable scope left for oil and gas industry to scale digitisation efforts
Find the full article available to members in the June edition of Oil and Gas Investor Magazine here.