• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 1 hour US Military Spends at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 56 mins Summit: Kim, Putin To Meet Thursday in Russia’s Far East
  • 2 hours New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 28 mins Don't Climb Onto the $80+ Oil Price Greed Roller Coaster, Please.
  • 3 hours Deep Analysis: How China Is Replacing America As Asia’s Military Titan
  • 9 hours Populist Surge Coming in Europe's May Election
  • 15 hours Saudi Arabia Says To Coordinate With Other Producers To Ensure Adequate Oil Supply
  • 18 hours "Undeniable" Shale Slowdown?
  • 7 hours China To Promote Using Wind Energy To Power Heating
  • 21 hours Overheating the Earth: High Temperatures Shortened Alaska’s Winter Weather
  • 21 hours Climate Change Protests
  • 18 hours Gas Flaring
Alt Text

Top Heavy Oil Markets Continue To Rally

Oil markets continued their way…

Alt Text

New Electric Vehicles Contain Much More Lithium

Lithium carbonate equivalent deployed worldwide…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

The Next Big Innovation In Oil & Gas: Cloud Computing

Oil and gas is hardly the first industry that springs to mind when one mentions cloud computing. The tech that has been expanding at a breakneck pace, disrupting business models and enabling innovation across industry boards, has not really met with a lot of enthusiasm in the energy industry—at least not yet. But this may be about to change.

The silver lining of the 2014 oil price collapse is making itself increasingly obvious: energy companies have had a wake-up call: They must change the way they play the game. Enhancing operational efficiency, keeping costs low, and approaching new projects more cautiously and flexibly are among the changes we have already witnessed.

Deeply rattled by the price crash, Big Oil – and small independent operators, too – is striving to turn into Lean Oil, going for smaller projects to maximize and accelerate investment returns and even venturing into renewables to ensure long-term growth.

Yet, the nature of the business, which involves so much sensitive information, is not particularly conducive to eagerness to adopt cloud services. But the cloud has been evolving and data security worries attributed to the cloud are being stifled. It seems that energy companies are becoming more comfortable with the cloud, and the near future might see it strap on this new tech.

A forecast from the UK-based Oil and Gas Council, for example, argues that the oil and gas industry stands to benefit particularly from cloud computing. Using a hybrid version of the technology that combines software as a service (public cloud) and software infrastructure as a service (private cloud) could not only bring IT costs down, but could also improve the way the business is managed.

According to the forecast’s author Chris Walcot, the cloud would provide oil and gas businesses with the powerful processing capabilities that they need, while facilitating the links between multiple offices across the world and enhancing the security of sensitive information by storing it in a virtual hub rather than on local servers—all at an appealingly low cost of entry.

Still, Walcot admits, the cloud has further to go before it makes these capabilities available to the oil and gas industry.

Other industry experts believe that cloud adoption will be one of the main IT trends for oil and gas this year, alongside the Internet of things, drones, intelligent rigs, and leak-detection software. The benefits of the cloud, they note, include realizing value from projects much more quickly, and developing new solutions that are flexible and quicker to deploy. Related: Oil Price Rebound May Come Too Late For UK Oil Sector

Speed is a core element of the cloud’s appeal, regardless of the industry. The technology eliminates much of the hassle associated with using an IT network, and invariably saves time, regardless of what you do on it. Of course, breakdowns are a possibility, but the very nature of the service ensures that this downtime– which providers will strive to make sure is a rare occurrence – is quickly addressed and damages minimized.

According to the experts cited above, the early adopters of cloud tech in the oil and gas industry will stand to benefit the most, just as the first entrants in the shale oil patch were the most successful.

On the supply side, we see a growing choice of cloud solutions specifically targeting the oil and gas industry, such as the DecisionSpace 365, developed by Halliburton’s Landmark together with Oracle Cloud, and the recent partnership between Germany’s software giant SAP and Accenture, aimed at developing cloud solutions for E&Ps.

In the world of oil and gas, cloud computing is trending, and it looks like a stable trend.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • Oilracle on January 14 2017 said:
    -"The Next Big Innovation In Oil & Gas: Cloud Computing"-

    There is nothing big in "Cloud Computing," but only marketing noise.
    Oil industry is sensitive enough to keep everything in the house.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News