If you attended Offshore Europe recently, you will have noticed that a recurring theme was the adoption of big data, analytics and automation within the industry. With the forecasted continuation of low oil prices for the foreseeable future, tightening of health and safety regulations and an increasing pressure on environmental compliance, adoption of these technology initiatives is critical to the survival of the North Sea.
The oil price is dictated by the market and individual companies have very little control over the prevailing oil price, but, they can control costs. With this sector enjoying significant profit margins over decades, many inefficiencies were hidden by high profitability. This has led to processes, activity and data being siloed across business units. These processes and activities have led to data isolation that impacts the ability to reduce costs. One of the ways this can be addressed is by digitization- connecting siloed data to unlock the information that is held within.
Before embarking on a costly digitization drive, companies must firstly understand what business benefits they want to achieve – what the outcomes will be from a business perspective. Many digitization projects fail because there is no clear outcome or measurable return on technology investment.
Let’s face it – the Oil & Gas industry has never been an early adopter of technology and does not adopt new processes or activities readily. But, embracing the technology is not the major challenge – human behavior is a significant factor in the success or failure of these projects.
Global employees must be kept informed and trained in the adoption of new technologies, activities and processes. This involves the communication of complex and ongoing change, but if adoption is to be successful, this must be done rapidly while containing costs.
Video communication has proven to be a much more effective medium for communicating complex ideas and training global employees – both rapidly and cost-effectively. But, corporate content has to be secure and distributed in a way that does not impact corporate network resources. It must be time-specific, accessible across many platforms and engaging to ensure its impact is demonstrable.
Imagen is a market-leading video communications platform. We secure, manage and distribute valuable corporate video for Oil & Gas companies. In the cloud, globally accessible on any platform and cost-effective.