Technology Record - Issue 27: Winter 2022

122 V I EWPO I NT Oil and gas players must adopt integrated operational and carbon data management technology to achieve their decarbonisation goals RA SHE SH MODY : AV E VA Why smart data holds the key to greening energy firms Global leaders are on an urgent path towards net zero, acknowledging that the world must slash emissions by 50 per cent within this decade to avert a climate emergency. Amid this pressured backdrop, the world has collectively undertaken colossal initiatives to decarbonise, including electrification and the increased use of hydrogen to reduce fossil fuel use. By 2050, experts expect renewable power to account for roughly 80 per cent of global demand. In the same vein, the oil and gas industry must redouble its efforts to stay relevant. To reach the lofty emissions goals leaders have set to meet social and political mandates, the world must lean on a combination of efficiency measures, renewable electricity generation techniques and proper distribution infrastructure, as well as green fuels like hydrogen, renewable diesel, ethanol and biofuels. For fuel producers, adjusting to this shifting landscape demands innovation, precision and agility, all of which are driven by quality operational and carbon data management and layers of analytics. In short, fuel producers must use every tool at their disposal – particularly foundational enabling digital technologies – to solve tomorrow’s problems today. For decades, operational data has been one of the most potent tools to help businesses in all industries optimise their processes, cut costs and empower their workforce. However, as we continue to move from an analogue to a digital world, operational data has become the most important business asset to empower the workforce, underpinning all strategic initiatives including operational excellence and digital transformation. The addition of carbon data management as an extension of environmental data management only amplifies this strategic point. However, not all information is equally useful. To produce actionable intelligence, data must be structured and accessible to those who can best use it, particularly subject matter experts who have the knowledge and experience to put data insights into action. This strategy is more vital now that fuel producers must prioritise decarbonisation alongside making profits. With AVEVA’s self-serve digital tools that are grounded in solid operational and carbon data management with streaming analytics, events and notifications with artificial intelligenceinfused information at their disposal, as well as “Our tools are designed and optimised to connect asset, data, people, sites, systems and processes”