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The oil and gas (O&G) industry is in a state of flux. It’s facing all-time high energy prices and pressures for less carbon-intensive energy systems; demands for clean energy to address the climate crisis; ; and . The industry, well aware of these issues and the growing need to evolve for a viable future, is seeking ways to reduce CO2 and methane emissions, as well as source alternatives. But effective change will require substantial investment, innovation, and research and development, at a much faster pace than we currently see.ÌýÌý

Intelligent automation (IA) has a role in making this happen, Fig. 1. An astonishing of O&G executives agree that a digital-first workforce needs to be developed over the next ten years. Regulations and societal demands for reducing fossil fuel dependency will only continue. IA helps by driving innovation, filling some skills gaps for engineers, and enhancing data usage and operational efficiency. Much of this sector is process-driven, yet many of these tasks are still operated manually and with legacy systems. This creates value-obstructing , which IA can help break down—offering insights and analysis to inform progress promoting decision-making. Together, these outcomes enhance cash flows while helping meet emerging sustainability objectives and requirements.Ìý

FIG. 1.ÌýIntelligent automation (IA) has a role in making clean energy happen.Ìý

THE O&G ROLE IN TODAY’SÌýGLOBAL ECONOMY?Ìý

This year, O&G will make up , which shows the world’s continued dependence on these commodities. Alternative energy sources have not yet advanced to the point where we can effectively use them to replace all the world’s O&G demands. Developing economies will struggle to facilitate their industrial needs without oil and gas. They have not had the capacity of developed countries to invest in clean energies and technologies.ÌýÌý

Although the world is not at the point of saying goodbye to O&G, this does not absolve us of the responsibility to transition to a renewable energy supply. The O&G industry has a prominent role to play in bringing forward a global net-zero economy (Fig. 2), which is estimated to need through 2050. Fossil fuels—coal, oil and gas—are reputedly the , accounting for more than 75% of global greenhouse gas emissions, according to some scientific sources.ÌýÌý

FIG. 2. The O&G industry has a prominent role to play in bringing forward a global net-zero economy by bringing forth its considerable knowledge and capabilities.Ìý

The industry is working to make progress regarding environmental, social and governance (ESG) issues, as doing so has become an economic, political and reputational imperative. Several O&G companies have and are persevering with decarbonization efforts, despite the economic volatility of the past few years. For example, Occidental Petroleum, one of the largest international oil companies in the U.S., has partnered with Carbon Engineering, a Canadian-based clean energy company, to build a plant intended to . Also, in January 2022, its target to achieve net-zero greenhouse gas emissions by 2050.ÌýÌý

HOW IA HELPS THE INDUSTRYÌýREACH ESG TARGETSÌý

The sector’s efforts to mitigate the effects of climate change center around three primary areas: reducing CO2 emissions, reducing methane emissions, and recycling CO2, Fig. 3. An IA formula can support forward movement on these goals, replacing manual tasks with automation and relieving people to unleash efficiency and focus on value-adding, transformative work.ÌýÌý

FIG. 3. IA can help the industry reach ESG targets that include reducing CO2 emissions, reducing methane emissions, and recycling CO2Ìý

Any movement in this space needs substantial research and development, combined with innovation. This requires effective and complete data usage, which is impossible with outdated IT infrastructures and siloed information. Intelligent automation can connect these legacy systems; consolidate the reams of structured and unstructured data commonplace in the industry; and then process it to provide insightful and innovation-driving analytics. Free-moving data facilitates IA and maximizes its use and impact across the organization. Actionable insights sourced from these data speed up decision-making, promote fast problem-solving and assist with meeting future compliance and regulatory standards.Ìý

Employing IA can free workers to focus on experimentation, innovation and processes for detecting, measuring and mitigating emissions levels. It can be used to measure progress and success in reaching emissions targets through impact analytics and help businesses ensure they’re operating in line with regulations, which can be costly and cumbersome.ÌýÌý

We don’t know what the solutions will be in 20 years, but the faster we test and adapt different solutions—whether hydrogen, electric or something else entirely—the closer we’ll be to a long-term answer, Fig. 4.Ìý

FIG. 4. IA can assist in bringing forth electrically oriented solutions.Ìý

LOOKING TO THE FUTUREÌýÌý

As the oil and gas industry looks to the future, we’re seeing lines between this sector, the energy sector and the telecommunications sector begin to blur. The business model is evolving—O&G businesses are diversifying and , such as hydrogen and carbon capture, utilization and storage (CCUS). They’re working to establish their leadership and expertise in the renewable space for a greener future.ÌýÌý

It is easy to scapegoat the O&G industry, but we all have a role to play—landfills, agriculture and transportation, among other factors, are all . For the most part, the oil and gas industry recognizes its role, but this transformation will take time. It takes time to uncover equally capable alternatives to a commodity integral to the global economy and the living standards we have come to view as essential. However, it is a necessary transformation, if we are to leave the world a good place for our children and grandchildren. There is still time for progress on this issue, and this is an empowering reality—innovation, research and development will be critical on this journey to clean energy, which is where IA can help.ÌýÌý

About the Authors

Saranjit Singh

SS&C Blue Prism

Saranjit Singh SARANJIT SINGH is Vice President, Telecommunications and Utilities APAC, for SS&C Blue Prism. He has over three decades of diverse professional experience, employing his business understanding and expertise in the digitization and intelligent automation field. Over the course of his professional career, Mr. Singh has accumulated considerable knowledge in the Information Technology, Telecommunications, media, utilities, and energy industries. He has worked as a key member of the senior management team with global organizations like Microsoft, Oracle, SingTel Optus, Telstra and Lucent Technologies, expanding business and technology innovations. Mr. Singh earned a Master of Computer Science degree from Victoria University, Australia, wherein he was also an elected member of the University academic board.