Dr. Satyam Priyadarshy, Technology Fellow and Chief Data Scientist at Halliburton
Why do you believe data is an asset?
If you think of data, data is the foundation for all the processes in our industry and it is one of the assets that has been collected for hundreds of years. Nothing works without data whether it is the first principles that we use or whether we use simulations. Everything requires data, data is one of the most important assets.
What are the most important new technologies in the oil and gas market?
You have to look at technologies in multiple ways. Some of the things is, what are the data driven technologies that are there. Second is how do we actually collect the data, that said, IOT sensors, the drones, AR-VR, like augmented reality, virtual reality, becomes an important component of it, right? But more importantly, what's next actually,
the cybersecurity becomes a very big component of it. We have been using them but not at the same scale. Now, as the data volume increases, the speed of data increases
then the cyber security becomes an important component as well. And then of course you look at the Cloud paradigm, that means the Cloud, the Edge the Fog. Those are actually a big component across the whole well-life cycle, whether it's Upstream, Downstream or Midstream, because now you can actually create value from the data wherever you are and this is very important for us to run what we call and maximise the value of the asset not only get oil and gas but also the data asset.
So, what do you think 2020 looks like in Downstream Market?
I think one of the things that we should see are more implementation of IOT sensors going forward and as you saw even earlier, somebody was presenting a drone solution and how successful they have been to use it and also robots. And I think this combination of technologies will be implemented at much faster pace across the oil well lifecycle, and of course latterly in Downstream as well. And what I should say, I call it the pace at which things will be deployed will be faster than what have been in the next five years.